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.
Manulife Names Wilton Kee As CEO For Hong Kong And Macau
Manulife has appointed Wilton Kee as the new Chief Executive Officer for its Hong Kong and Macau operations, effective ... Read more
Banks Are Not Ready For AI | Singapore AI CxO Roundtable
In this exclusive roundtable jointly hosted by Fintech News Network and Alteryx, senior banking leaders in Singapore sh... Read more
Mizuho Bank To Invest In Rakuten Bank In October
Mizuho Bank will shift its investment into a 5.81% stake in Rakuten Bank, according to Japan Today. The move allows the... Read more
Forthright Subsidiaries Secure SFC Approval For Virtual Asset Services Across 3 Licenses
Forthright Securities and Forthright Capital have received approval from the Securities and Futures Commission (SFC) to... Read more
SFC Names Elisa Ng To Lead Investment Products, Reappoints Lisa Chen
The Securities and Futures Commission (SFC) has appointed former J.P. Morgan Asset Management executive Elisa Ng as its... Read more
Mastercard And JD.com Partner To Expand Cross-Border Payment Options In China
Mastercard and JD.com have entered a strategic partnership to develop cross-border supply chain finance tools for busin... Read more
