Police said on Wednesday they have arrested six alleged scammers in connection with a HK$95 million fraud scheme involving the sale of gold bars, with one alleged victim claiming to have lost as much as HK$22 million, RTHK reports. According to officers from the commercial crime bureau, 11 men and 9 women had bought 279 kilograms of gold bars from an investment company run by the syndicate. The victims were then allegedly asked to lease the gold bars to a listed company for a guaranteed annual return of between 6.6 and 7.5 percent. One of the alleged victims is a local resident while the rest are from the mainland, including businessmen, lawyers, and students. Yip said police are looking for several others linked to the fraud scheme.

Source: The Standard November 04, 2020 09:11 UTC