c7332d52-39e1-11eb-9b80-f4f1a4017c77_image_hires_181844
HONG KONG, Dec 13 (SCMP): A lawyer and 11 insurance agents were among 24 Hongkongers arrested recently in connection with an investment scam that duped 263 people out of HK$475 million (US$61.2 million) over five years.
Police said they had frozen bank accounts held by members of the syndicate with balances totalling HK$50 million. They were also considering applying to freeze and confiscate 11 properties across the city, worth HK$370 million, believed to have been purchased with criminal proceeds the racket pocketed.
Already a subscriber? Log in.
Subscribe or renew your subscriptions to win prizes worth up to RM68,000!
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
