Nearly 100 Hongkongers lose HK$90 million in 1 week through investment scams
Fraudsters pose as investing gurus with insider knowledge on stocks and crypto, with one victim scammed out of HK$10 million, police say
Nearly 100 Hongkongers have been scammed out of HK$90 million (US$11.6 million) in just one week by online fraudsters posing as investment experts to lure victims into betting on cryptocurrency and stocks by offering fake insider knowledge and tips.
An 84-year-old businessman suffered the largest single loss when he was deceived into investing in cryptocurrency, losing nearly HK$10 million, according to police.
The businessman encountered the scammer, who posed as the CEO of a data company, through the messaging platform WeChat.
“He transferred close to HK$10 million to accounts controlled by the scammers through 14 transactions,” the force revealed on its CyberDefender Facebook page.
Another victim, a 43-year-old clerical worker, lost her HK$1.8 million savings along with a HK$1 million loan she had taken out.
The woman connected with a supposed investment expert on Telegram and was tricked into investing in Hang Seng Index futures on a bogus trading platform.
“In just two weeks, she made 17 transactions, transferring over HK$2.8 million to accounts provided by the scammer,” police said. “Sadly, she lost all her savings and ended up HK$1 million in debt.”