Three locals report HKD1.73m loss in suspected investment scam

Three young residents have reportedly fallen victim to an online investment scam, with combined losses totaling approximately HKD1.73 million, the Judiciary Police revealed yesterday.

Two male victims said they were lured in separately through investment advertisements on social media platforms in April.

After clicking the ads, they were added to chat groups and approached by individuals claiming to be investment assistants. These so-called advisors persuaded the victims to invest in stocks through a designated mobile app.

The men followed instructions and deposited HKD79,000 and HKD550,000 respectively into accounts within the app.

The scam came to light when both victims recently attempted to withdraw funds from their app accounts and were unable to do so.

They became suspicious and discussed their experiences in the group chat, eventually deciding to report the matter to police.

A third victim, a woman, was also defrauded in a similar manner, reporting a loss of HKD1.1 million.

Authorities are urging the public to remain vigilant and avoid engaging in online investment schemes promoted through unofficial channels or unfamiliar apps, especially those introduced via social media. PJ said investigation into the case is currently underway. Times Reporter