A Hong Kong woman in her 50s has fallen victim to a "running for profit" Ponzi scheme, losing more than HK$1.1 million over nine months.
The police revealed details of the case on their CyberDefender anti-fraud Facebook page on Tuesday, urging the public to stay vigilant against fraudulent investment schemes promising guaranteed high returns.
The scam began when the victim received an unexpected call from an old acquaintance she had not spoken to in years, who invited her to serve as a "team leader" recruiting participants to film promotional running videos.
She was then introduced via WhatsApp to an individual claiming to be "Director Li," who instructed her to open an account on a designated cryptocurrency platform, supposedly to receive funding to cover production costs for the video shoots.
About a month later, Li claimed the company had launched a mobile app that rewarded users with lucrative returns for completing daily running tasks.
Enticed by promises of steady profits, the woman began transferring funds into a designated cryptocurrency wallet.
Her trust in the scheme grew after she was invited to attend several lavish in-person banquets featuring celebrity guests, leading her to inject more than HK$1.1 million across multiple deposits over nine months.
She only realized she had been duped when her requests to withdraw her principal and earnings were repeatedly blocked.
To protect citizens from similar investment scams, police reminded the public that scammers usually packaged the “opportunity” with empty promises.
Officers highlighted several red flags, including early payouts to create a false sense of high returns, lavish banquets to appear legitimate, high commissions for recruiting friends and family, and the use of cryptocurrency for transactions.
Authorities emphasized that physical offices and celebrity appearances do not guarantee a venture’s legitimacy, reiterating that any investment scheme promising high returns with zero risk is a scam.
Anyone suspecting fraudulent activity is urged to call the police Anti-Deception Coordination Centre's Anti-Scam Helpline at 18222.
