Local businessman Frederico dos Santos Rosário has been arrested by the Judiciary Police (PJ) for suspected fraud involving cryptocurrency investments with local investors, the PJ informed.
According to information from a PJ spokesperson heard by TDM Radio yesterday afternoon, on August 1, Rosário filed a complaint with the police, saying he had been tricked into a cryptocurrency investment scheme.
The PJ investigation concluded that the businessman is, in fact, a partner of Dennis Lau, the Hong Kong investor whom Rosário was complaining about. Both had colluded in a scheme to attract investors in Macau, and are potentially guilty of having misled the local investors while claiming that the scheme was a “low-risk investment with high profits.”
Rosário was bailed out of police custody last night for a sum of MOP50,000. He is now obliged to present himself at the police station on a weekly basis.
The case involves a total of 71 victims and a total of MOP14.2 million that has gone missing. The scam allegedly promised the investors that they would receive a monthly return of 25 percent.
Following a disagreement between the partners, last month Rosário announced that he was filing a lawsuit against Lau for defamation.
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