TechFlow news — The Washington Post has learned that a Hong Kong financial manager lost over HK$17 million (US$2.1735 million) investing in gold and cryptocurrency through a fraudulent trading platform, after initially being lured by HK$2.6 million in fake "profits."
A source familiar with the case said the 57-year-old woman received the fake returns from more than ten transfers into her bank account during the first three months of investment. The payments were designed to deceive the victim into believing it was a legitimate trading platform and served as bait to encourage her to make further transactions and invest more funds.
Police stated: "Between May last year and February this year, the victim was deceived into transferring HK$12.5 million into 29 bank accounts in Hong Kong for 45 investment transactions."
