Hong Kong Entrepreneur Is Accused Of Mining Scam
Wong Ching-kit, a 25-year-old businessman from Hong Kong, was arrested by the police and charged with crypto mining scam, South China Morning Post reports.
The entrepreneur, whose fortune in bitcoins is estimated at a million dollars, and his 20-year-old comrade were arrested by employees of the counter-commercial crime department at Hong Kong law enforcement authority.
According to sources, the businessmen are being held in custody and are accused of a conspiracy to deceive investors in connection with the sale of mining equipment. The police did not report what exactly was this deception about.
In early January 2019, Wong was accused of misleading many investors, urging them to acquire Filecoin token mining devices. Wong Ching-kit claimed that this asset will pay off investments and begin to make a profit in three months. However, the token has not entered the turnover.
Since October 2018, the Hong Kong Democratic Party, which provides assistance to victims of fraud, has received more than twenty complaints. The total loss of investors amounted to three million Hong Kong dollars, or about $383,000. Investors demanded a full return of their funds.
Law enforcement authorities promised to launch an investigation against Wong, as he was also suspected of money laundering. The businessman rejected all the accusations against him and stated that he was surprised by this attitude since he only sells mining equipment.
As previously reported, the police of Thailand received a collective statement from investors accusing the organizer of the CryptoMining.Farm's fraudulent scheme.