Directors hunted in alleged HK$75 million bitcoin investment scam
Police arrest five Hongkongers after more than 50 clients claim they were unable to withdraw funds from investment accounts
Police are searching for the directors and shareholders of an investment company after more than 50 clients of a Hong Kong-based bitcoin trading platform claimed they had been cheated out of HK$75 million.
The hunt was revealed after officers from the commercial crime bureau picked up five Hongkongers yesterday in connection with the case.
Two brothers, aged 34 and 37, and three women, aged from 48 to 55, were arrested for conspiracy to defraud.
The arrests follow the sudden collapse of bitcoin trading platform MyCoin last month. The collapse sparked fears that up to 3,000 Hongkongers would lose their investment in the virtual currency, which has soared in popularity in recent years but has also been at the centre of a string of controversies.
One of the women was picked up when officers boarded a casino ship anchored off North Point yesterday morning.
Police caught the other four at their homes in Yuen Long, Tin Shui Wai, Wong Tai Sin and North Point. The source said four of those arrested were unemployed and the fifth suspect was an insurance agent.