A section of Pedder Street where the man was arrested. Photo: Wiki Commons

A 27-year-old man involved in 10 phone scams in Hong Kong, cheating victims out of HK$3.89 million (US$500,738) was arrested and charged on Tuesday afternoon.

The suspect belonged to the same cross-border criminal group with another man and woman caught earlier this month, police said.

A woman, 27, received a call from a man, claiming to be an officer from Wan Chai Police Station and accused her of being involved in a financial crime in mainland China.

During the phone call, the woman was then transferred to another man pretending to be a mainland official, who demanded a HK$720,000 deposit as proof of innocence, Headline Daily reported.

The woman reported the case police and met a man on Pedder Street in Central. Police arrested the man and charged him with obtaining property by deception. Police found a fake mainland police certificate in his pocket, Apple Daily reported.

One man and nine women, aged between 27 and 81, had reportedly fallen victim to phone scams. The group carried out phone scams from March 6 to March 28, with suspects claiming they were from the Department of Immigration or a delivery company, then requested payments from victims to prove their innocence in fictitious criminal cases.