Hong Kong and Macau join forces to crack down on virtual currency investment fraud, arrests 8 people involved in 234 cases involving more than 97 million yuan

Comparative news, according to Hong Kong's Wen Wei Po, the Commercial Crime Investigation Division of the Hong Kong Police and the Macau Judicial Police launched a joint cross-border enforcement operation codenamed “Shun” from August 1 to 3, successfully cracking down on a criminal fraud syndicate in the name of investing in virtual currency.

The Hong Kong police arrested 1 male and 5 women (aged 51 to 64) on charges of “conspiracy to defraud”. The persons involved included company directors, shareholders, company secretaries and key promotion members; the Macau Judicial Police also arrested 2 women involved in the case for “aggravated fraud”. As of August 3, the Hong Kong police had received 225 reports involving losses of about HK$94 million; the Macau police had received 9 reports involving losses of about MOP 3.6 million, totaling over $97 million.