Bogus financial experts have duped a Hongkonger out of HK$200,000 by employing a new scamming tactic that police had warned the public about. In the latest round of scams, three men aged between 23 and 48 were arrested for allegedly asking a victim for a large sum of deposits in return for low-interest loans. “The con men had disappeared with HK$200,000 of the victim’s money in February, after promising to loan out HK$300,000 in return,” said chief inspector Sin Kwok-ming from the crime unit on Friday. New tactics: Phone scammers pretend to be Hong Kong immigration officers to collect HK$1m from about 20 victims It was understood the victim and the scammers had met once to sign documents. Police received the report in March and on Thursday took action against an office located on Hennessy Road in Wan Chai. Officers seized documents, phones and computers. Sin believed the busted syndicate had operated for three months and that at least one victim had fallen prey. Hong Kong businessman cheated out of record HK$58m in phone scam He said fraudsters in previous cases rented out an office and had workers make cold calls to victims. “They posed as bank representatives,” Sin explained. “Then they lured the victims to cash in their housing mortgage and use the money towards low-interest loans.” Since last July, Wan Chai police station received reports of loan scams from at least 43 victims. The cases totalled HK$15 million and involved 10 financial intermediaries – nine in Wan Chai and one in Central. To date 28 people have been arrested.