The Buzz | Judiciary Police: Fake Scheme traps more than 400 investors

The Judiciary Police have reported that a woman claiming to be from the Macau Trade and Investment Promotion Institute (IPIM) has conned more than 400 people in an investment scam. The amount transferred to the fraudster is around RMB2.7 million (almost MOP3.2 million), according to the police.

The scheme is believed to have been disguised as a special project for handicapped individuals. Public broadcaster TDM reported yesterday that some disabled people might have been tricked into investing in the fraudulent scheme.

The woman told investors that they could earn a return on their investment as high as 300 percent. One victim that she conned allegedly spread news about the investment to his friends in Macau, which led to more people depositing their money within the scheme.

The fraud was uncovered when more than 20 people from mainland China arrived in Macau on Saturday. They were told that IPIM would host a talk about the investment.

However, upon realizing that the institute was closed and that the con artist was unreachable, the concerned investors reported their case to the police.

IPIM warned residents to be vigilant against schemes such as these, reported TDM.