Hong Kong police have arrested a man for allegedly stealing $191,085 from a cryptocurrency trader, which turned out to be a fraudulent transaction. No money was recovered at the time of the suspect’s arrest and an investigation is underway to determine whether The man was an ally.
no money recovery
Hong Kong police recently arrested a 24-year-old thief for allegedly missing a crypto trader with $191,085 (HK$1.5 million). A report said the con artist could now face a possible ten-year prison sentence if convicted.
According to a report in the South China Morning Post, which details the suspect’s plan, no money was recovered when law enforcement agents finally arrested the 24-year-old on May 10. The information of the recovery was only a mobile phone, necklace and. The suspect was dressed at the time the crime was allegedly committed.
Explaining how the suspect went missing with the funds of the suspected cryptocurrency trader, Hong Kong Police Inspector Tong Sin-tung of the Yoo Sim Criminal Investigation Unit said:
As instructed, the victim transferred HK$1.5 million of digital money to a specified e-wallet. [buyer] claimed he needed to go to the staff room to get the money and exit [the meeting room],
further arrest likely
Hong Kong police believe the suspect may have used an exit from behind a shop in Tsim Sha Tsu. However, before disappearing, the suspect had locked the cryptocurrency trader and his associates inside the shop. The cryptocurrency trader called the police after realizing that he had been duped.
Meanwhile, the report states that spies have yet to determine whether the suspect had set up office specifically to defraud the crypto trader. Tong said police were also looking into the possibility that the suspect may have associates. The inspector said that the police is not ruling out the possibility of more arrests.
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