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A 44-year-old man was sentenced to a 57-month imprisonment at the District Court today (October 5) after he pleaded guilty to five counts of conspiracy to defraud and one count of money laundering.
The court heard that the defendant had conspired with eight persons to create companies with intent to defraud their employees between August 2000 and May 2002. The defendant and his co-conspirators employed the victims and then induced them to invest in a Loco London Silver scam. Twelve victims were deceived and suffered a total loss of approximately HK$4 million.
The defendant was arrested in Jan 2001 and was charged in October 2004 but he absconded before the trial hearing. The defendant later surrendered to the Police in June this year and was subsequently charged on September 28.
Police appeal to job seekers to be vigilant in seeking jobs. They should understand more about the company background, business, job nature and work location before attending recruitment interviews, and should be cautious to lucrative job offers which do not require any job-related skills. Members of the public are reminded to seek expert advice before buying complicated investment products, and should make a report to police if they suspect a fraud.
Police report No. 317
Issued by PPRB
Ends/Friday, October 5, 2012
Issued at HKT 21:39
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