Four suspects detained in serious fraud and money laundering case

Authorities in Macau have discovered a major fraud and money laundering scheme, resulting in the arrest of four suspects. The case involves a criminal syndicate that defrauded a victim from mainland China of over MOP650,000.

The investigation began on June 3 when a mainland Chinese victim came to Macau to report losing MOP650,000 in an online investment scam. Investigators then identified four bank account holders as suspects: Chiu, 32; Chui, 33; Liang, 38; and Mok, 37 – all residents of Macau excepting Mok, who is from the mainland.

According to the police, the first suspect, Chiu, 32, admitted to contacting the victim on social media and persuading him to invest in virtual currency trading platforms. From June 15 to July 9, Chiu allegedly transferred the victim’s money through five different Macau bank accounts linked to the four suspects. When the victim was unable to withdraw any returns, he reported the crime.

Police made contact with the four suspects on the mainland on July 15 and brought them to Macau for investigation. Chiu told investigators he had received the fraudulent funds, converted them to Chinese yuan, and transferred the money to payment platforms controlled by unnamed criminal group members. In exchange, Chiu said he was given 12% of the stolen funds, with 10% designated as his cut and 2% reserved for any middle man involved. The other three suspects received a 10% cut.

Chiu further implicated the other three suspects, saying he had recruited the other Chui, Liang, and Mok to open additional bank accounts and help launder the money. According to the case, Chui and Mok received a total of MOP350,000, while Liang received MOP140,000 after transferring funds between the various accounts.

During questioning, all four suspects refused to cooperate with police. Further investigations revealed Chui and Liang had past involvement in multiple fraud schemes using their bank accounts. In total, the cases linked to the four involved over MOP360,000.

The Public Security Police Force stated the cases would be transferred to Public Prosecutions Office for formal charges. They indicated they would investigate whether the suspects participated in any other related criminal activities.

Authorities are urging the public to refrain from opening bank accounts or lending their accounts to others for the purpose of illegal activities as they can be easily exploited for money laundering and the transfer of illicit funds.

Victoria Chan