Owners of Hong Kong money changer stores suspected of HK$11.7 million scam
- They were licensed to run seven stores across Kowloon, and had been in the business for about a decade
- Officers were called to one of the stores when it failed to transfer cash into clients’ mainland Chinese bank accounts
A Hong Kong couple who own a chain of money changer shops were arrested on Wednesday evening after they turned themselves in to police over a HK$11.7 million (US$1.5 million) scam involving 174 victims.
Authorities earlier suspended two licences belonging to the woman, to run the seven shops in Mong Kok, Sham Shui Po and Cheung Sha Wan, after one of her outlets failed to transfer cash into its clients’ bank accounts in mainland China.
She is suspected of having pocketed the cash with her partner.
Customs officers were also investigating whether another money exchange shop, also in Sham Shui Po but was unlicensed, was controlled by the same pair. All eight shops had ceased operations.
A law enforcement source said earlier in the day that the woman was known to have "run money exchange and transfer businesses in the city for about 10 years”.
He said he believed the woman had cash-flow problems.
