A man has been jailed in Hong Kong for allegedly stealing $191,085 (HK$1.5 million) from a crypto dealer in a fraud transaction. The conman is 24-year-old and detained on May 10 by Hong Kong police. He may face a ten-year prison sentence if convicted of the crime.
What has been recovered by Hong Kong Police?
At the time of arrest, no money was retrieved from the conman. The only goods believed to have been found were a cellphone, necklaces, and the clothing worn by the suspect at the time of the alleged incident.
How did the incident happen?
Hong Kong police inspector Tong Sin-tung of the Yau Tsim investigating division detailed how the suspect managed to flee with the unknown crypto trader’s funds:
“The victim [a crypto dealer] followed the instructions and transferred HK$1.5 million in digital currency to a specific e-wallet. The [buyer] fled [the meeting room] claiming he needed to go to the staff room to acquire money.”
According to the investigation team, the suspect may have escaped by a back exit of a shop in Tsim Sha Tsu. However, the suspect is said to have locked the crypto dealer and her co-workers inside that shop before fleeing. The cryptocurrency trader phoned the cops after learning they had been tricked. The investigation team is yet to ascertain whether the suspect put up an office especially to defraud the crypto trader.
What next?
Tong stated that the investigation is also looking into the possibility that the suspect has more people involved. They are not ruling out the prospect of future arrests.
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