Hong Kong man loses HK$2.8 million in investment scam, among 50 cases in past week

A 60-year-old Hong Kong man has lost over HK$2.8 million (US$357,000) in an online investment scam, according to police. The victim was tricked by fraudsters who claimed to be employees of electricity companies CLP Power and State Grid Corporation of China. The scammers told the man that the companies were collaborating on a "recyclable waste project".

The victim, who met the scammers on Facebook, transferred HK$1.5 million to different bank accounts following their instructions. When questioned, the fraudster assured the victim that the project had a high return and showed a forged identity card to reinforce their claims. The victim then transferred another HK$1 million.

Subsequently, another fraudster contacted the victim on WhatsApp, posing as a State Grid employee and providing forged staff cards and a fake HK$9 million cheque. The scammer demanded further payments, claiming the project had already yielded profits. The victim, believing he was receiving "dividends", continued to transfer money.

Police warned residents to verify the identities of company employees through official channels and not to disclose sensitive personal data to anyone claiming to be an "internal employee" of an organisation. They advised against investments promising "high returns with zero risk" and transferring money to unknown personal bank accounts.