Ten jobseekers' complaints to police after they were talked into investing in fictitious silver trading uncovered a syndicate that had swindled $2 million out of the victims, a court heard yesterday.
Four men and three women who were staff of Link Legend Enterprise Ltd pleaded guilty in the District Court to a joint charge of conspiracy to defraud. Deputy Judge David Dufton adjourned sentencing the seven until October 23. They are Lee Yeuk-sing, 44, Wong Fuk, 36, Lee Tak-yuen, 36, Mak Yat-lung, 35, So Lai-nar, 42, Ng Kwai-chu, 23, and So Choi-mui, 36.
Cheung Chi-yuet, 31, Wong Fung-ming, 51, and Mak Wai-mei, 27, employees of the same company, denied the charge and their trial starts today before Deputy Judge Dufton. Two other staff of the company, Walter Yip Shu-wai, 27, and Leung Wai-shan, 20, failed to attend court yesterday and the judge issued arrest warrants. They also are charged with conspiracy to defraud.
Prosecutor Flora Cheng Suk-yee said 10 people had made complaints to the police between May and July 1999 that they had lost substantial sums after being persuaded by the company staff to invest in silver trading. The 10 had responded to advertisements for office and warehouse positions but were not given any real work after they were employed.
They lost between $20,000 and $510,000 each, with the total loss amounting to $2 million, the prosecution said.
Police raided the company's office in Tsuen Wan on July 15, 1999.