A 44-year-old man from mainland China lost 35,000 yuan (US$8,270) to swindlers in a gold scam in Kowloon’s Tsim Sha Tsui on Tuesday. The man surnamed Kong, who was vacationing in Hong Kong, was approached by two men who claimed they could offer gold at a discount, Oriental Daily reported.
At 6pm, Kong met the duo, who were carrying a suitcase, at a venue on Nathan Road. They asked Kong to pay 7,000 yuan as a deposit before letting him have a look at the gold.
Kong paid, and the men took a backpack out of the suitcase and let him catch a glimpse of the “gold” inside it. They pressed him to pay the rest, and they left immediately after receiving the money.
But when Kong opened the backpack, he found a bag of sand instead of gold. He called the police.
The case has been classified as fraud and is being followed up by officers from criminal squad of Yau Tsim Police District.
Read: Taiwanese men lose money in fake gold scam in Kowloon
Read: Duo discovers discounted gold bars are fake, loses US$56,000
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The scam is simple; a sure-fire investment doesn’t yield the results it was “destined” for and you’ve lost your initial investment, the only solution to recoup your money is to “invest” again. It’s an age-old scam, the only difference this time is that it has been matched with the technology, scale and complexity of the 21st century, allowing thousands of victims from every corner of the world to be duped.
However, things are changing and the tide is turning for the victims who have been defrauded, thanks to mikecraig.recovery @ gmail . com an investigative firm that specializes in asset recovery and gathering intelligence to fight binary options scams.