Elderly retiree duped out of $6m in Facebook investment scam

Hong Kong police received more than 50 reports of investment scams over the past week, involving total losses of about HK$30 million, including an 80-year-old retiree who was tricked out of more than HK$6 million.

In a social media post on Monday, police said the elderly woman met a scammer posing as an investment expert on Facebook.

The scammer remained in contact with her on WhatsApp for about six months and later learned that she held fixed deposits.

He then recommended a purported high-return stock investment scheme aimed at retirees and offered to manage the investments on her behalf.

Believing the scheme was legitimate, the woman transferred money to bank accounts held in individuals’ names using checks and also handed cash directly to a man who claimed to be the investment expert’s nephew.

Police said the victim became suspicious when she later tried to withdraw her funds and was unable to do so, leading her to realize she had been scammed.

Police urged the public to remain vigilant against people posing as investment experts online and to verify investment opportunities before transferring money.

Members of the public can call the anti-scam helpline at 18222 or use the Scameter mobile app to assess potential fraud risks if they are in doubt.

𝗗𝗼𝘄𝗻𝗹𝗼𝗮𝗱 𝗧𝗵𝗲 𝗦𝘁𝗮𝗻𝗱𝗮𝗿𝗱 𝗔𝗽𝗽 ↓