Cake Shop Boss Arrested Over Chain's Sudden Closure
"); jQuery("#212 h3").html("

"); });
2022-09-22 HKT 15:56
Customs officers on Thursday said they had arrested a director of the cake shop chain Crostini which closed down without warning last week, leaving some customers with prepaid coupons they can't redeem.
A man, 55, was arrested on suspicion of violating the Trade Descriptions Ordinance and has since been granted bail pending further investigations.
"After investigation, it was revealed that customers who had purchased cake coupons or gift vouchers were unable to redeem the products concerned nor receive any refund of payments after the bakery chain suddenly announced that it had suspended its business. Customs officers therefore arrested a 55-year-old male director of the bakery chain today," a statement said.
Officers said they had received 104 complaints about the bakery chain, involving coupons and vouchers worth a total of around HK$270,000.
Lui Ngai-kuen, deputy head of the Customs and Excise Department, said one customer was owed products to the tune of HK$17,500.
Crostini earlier cited a downturn in business due to the pandemic for its decision to stop trading.
Vietnam And South Korea Launch Cross-Border QR Payments
Vietnam and South Korea have launched cross-border QR payments that allow Korean users to pay merchants in Vietnam thro... Read more
WeChat Pay Integrates With Local QR Networks In 5 Asian Countries
WeChat Pay has integrated its service with national QR code networks in five Asian countries, simplifying cross-border ... Read more
Global Transition Finance Ecosystem Gains Momentum
The global transition finance ecosystem is gaining momentum. According to new research by the Hong Kong Institute for M... Read more
Banking Circle Taps PayGate To Ease KRW Cross-Border Payments Into South Korea
Global payments bank Banking Circle will now handle cross-border transactions and settlement flows for South Korean pay... Read more
Equinix AI Discovery Hub Opens In Hong Kong For Enterprise AI
Digital infrastructure company Equinix is partnering with Hewlett Packard Enterprise (HPE) to launch the Equinix AI Dis... Read more
Tencent, Alibaba Eye DeepSeek Stake As AI Startup Tops US$20B Valuation
Chinese tech giants Tencent and Alibaba are in discussions to invest in AI startup DeepSeek, The Information reported, ... Read more
