Police Arrest 60 Over Dozens Of Alleged Fraud Cases

Police said on Monday that 60 people have been arrested in the past two weeks in connection with dozens of suspected fraud cases.

Detectives in Mong Kok said around HK$75 million was believed to have been swindled in total, in 44 alleged scams.

Superintendent Billy Ching said a number of the suspects were arrested on suspicion of lending their bank accounts for money laundering.

Five people were suspected of pretending to be from a construction company and of using fake employment and revenue records to cheat HK$6 million from a bank under the government's 100% loan guarantee scheme.

The scheme was set up to help companies affected by the pandemic.

Five of the other suspects were believed to have swindled HK$5.3 million from a woman, 48, in a cryptocurrency investment scam.