Hong Kong and Macau Jointly Crack Down on Virtual Currency Investment Fraud, 8 Arrested in 234 Cases Involving Over 97 Million Yuan

TechFlow news, August 5, according to reports from Hong Kong Wen Wei Po, the Hong Kong Police Commercial Crime Bureau, jointly with the Macau Judicial Police Bureau, launched a cross-border joint law enforcement operation codenamed "Junli" from August 1 to 3, successfully cracking down on a criminal fraud group under the guise of virtual currency investment. The Hong Kong police arrested 1 man and 5 women (aged 51 to 64) on charges of "conspiracy to defraud"; the individuals involved included company directors, shareholders, company secretaries, and key promotional members; the Macau Judicial Police Bureau also arrested 2 involved women on charges of "aggravated fraud". As of August 3, the Hong Kong police received a total of 225 reports, involving losses of approximately HK$94 million; the Macau police received 9 reports, involving losses of approximately MOP3.6 million, totaling over 97 million yuan.