Crack down on online investment fraud, further five suspects arrested

Macau’s police force has intensified efforts against an online investment fraud group, leading to the arrest of 28 suspects since the start of 2024. The latest arrests occurred on September 4, when five local individuals, believed to play key roles in the fraudulent network, were apprehended.

Authorities reported yesterday in a press conference that the five suspects are linked to a scheme that defrauded victims of over RMB27 million. Investigations revealed that at least 30 individuals were scammed, with losses ranging from RMB20,000 to 8.7million each. Despite the arrests, police caution that additional suspects may still be at large and urge potential victims to come forward.

Victims reported being lured into an investment group by individuals posing as “investment assistants on WhatsApp.” Initially, they received enticing returns on their investments, which led them to trust the operation. However, as they attempted to withdraw their principal, they were unable to do so, raising suspicions of fraud.

Police uncovered a sophisticated structure within the criminal organization, with roles clearly defined among members. Some were responsible for recruiting new victims and managing fraudulent transactions, while others facilitated the movement of illicit funds. Notably, one suspect who had fled to mainland China was apprehended and returned to Macau for prosecution.

The PJ said it is committed to tackling these scams, emphasizing the importance of public vigilance. Anyone who suspects they may have been targeted is encouraged to report their experience immediately. Nadia Shaw