Hong Kong investment firm conned out of US$5.25 million when buying private jets in email scam
- Company loses handling fee when duped by email scam during US$300 million purchase of private aircraft
- Fraudsters hacked into emails of intended recipient for the commission before setting up account with similar address
An investment company in Hong Kong was duped out of US$5.25 million (HK$41 million) when buying private jets to become the city’s latest victim of email fraud.
The firm was scammed this month while trying to pay a handling fee to its overseas business partner for a US$300 million aircraft deal, a law enforcement source told the Post.
“We believe the fraudster hacked into its business partner’s email account to study its history and monitor its business,” the source said.
“While the two companies were negotiating the payment of the handling fee, the swindler pretending to be the overseas business partner, sent a deceptive email to the Hong Kong firm, requesting money transfer to a bank account in Hong Kong [controlled by the scammer].”
The company – which has an office in the city’s tallest building, the International Commerce Centre in Kowloon West – has not been named.