Millions Lost In Investment Fraud, Say Investors

A group of investors who allegedly lost millions of dollars on Tuesday called on the authorities to take action against a financial service firm, saying it is still continuing to defraud more people.

The group said they were lured by the company which offered high returns to invest in foreign currencies, stocks and gold.

The company, Maxim Capital, has been linked to investment scams in Malaysia, Taiwan and Singapore, and the Securities and Futures Commission here got a court order to freeze the firm's assets in 2015.

But the investors said they were told to transfer their money to another trust company before it took effect.

The group said the company has now stopped paying returns and told them it won't be able to repay their investments. One investor, who said he lost HK$1.7 million, alleged thousands of people like him have been cheated by the company.

DAB lawmaker Ann Chiang is helping the group to submit a police complaint.