The Judiciary Police (PJ) arrested on Sunday a Hong Kong “entrepreneur” for scamming a local investor, PJ spokesman Ho Wai Lok said during a regular press conference yesterday.
Ho identified the suspect as a 54-year-old businessman surnamed To.
According to Ho, the Judiciary Police received a report from the local victim on November 7, saying he suspected that he had been defrauded by To when investing in two restaurants, losing around HK$2.4 million (2.47 million patacas).
In February 2024, Ho said, To persuaded the victim to invest in two restaurants that were about to open in a hotel in the city’s central district, claiming that an investment of HK$1.2 million would secure a 10 percent stake and generate substantial returns. Subsequently, To requested an additional investment of HK$1.4 million from the victim, under the pretext that the two restaurants required renovation work, Ho said.
The victim visited the restaurants and confirmed that renovation was indeed underway, and thus trusted To, Ho said, adding that between February and November 2024, the victim made multiple transfers totalling HK$2.4 million to bank accounts provided by To.
According to Ho, the two restaurants began operations on May 1 last year, but the victim never received any notification from To or the restaurants about his investments. Upon enquiring directly to the restaurants, Ho said, the victim learnt that To was not a shareholder in the two eateries. Only then did the victim suspect that he had been deceived, so he reported the case to the police on November 7, according to Ho.
The investigation revealed that both restaurants in question had never asked To to seek investors, nor had the restaurants ever received any investment funds, Ho said.
On Sunday, PJ officers intercepted To at the Hong Kong-Zhuhai-Macao Bridge (HZMB) upon arrival at the Macau checkpoint and seized HK$3,000 and a smartphone, Ho said, adding that To claimed that he had used the proceeds from the scam to repay debts and for gambling.
To was transferred to the Public Prosecutions Office (MP) on Monday, facing a fraud charge.
The undated handout photo provided by the Judiciary Police yesterday shows evidence seized from the restaurant investment fraud suspect surnamed To upon arrival in Macau from Hong Kong on Sunday.
