Odaily Planet Daily News The Hong Kong police have smashed a local fraud group that used London gold and virtual investment investment businesses as cover. The fraud group also used 50 shell companies and puppet accounts to clean up more than 320 million Hong Kong dollars in fraudulent funds in the past year.
Duan Yuheng, Chief Inspector of the Serious Crime Unit of Hong Kong East Kowloon Region, said that the fraud group used the form of cold call to sell investment projects such as London gold and virtual currency to the deceived to lure the victim to participate. Claiming to be in cash or transferred to a specific account, these application accounts are just a virtual trading platform and have nothing to do with London gold and virtual currencies in the market. Hong Kong police have arrested 19 men and women on suspicion of "money laundering" and "conspiracy to defraud". (Hong Kong 01)