A 70-year-old local jobless man has told the police that he has been cheated out of 400,000 yuan (MOP 483,170) in a retirement investment scam, Judiciary Police (PJ) spokesman Chan Wun Man said at a regular press conference on Wednesday.
According to Chan, the victim told the police that he met someone in a WeChat group in February and they became friends. That scammer later persuaded him to invest in a retirement plan in the mainland called “Alliance Foundation”, claiming that the plan offered a return on investment of 0.0005 per cent per day.
The victim paid 400,000 yuan in various instalments between February and August via his WeChat payment app and initially received 20,000 yuan in return.
However, at the end of September, the payments stopped. He then contacted the customer service of the foundation but there was no reply. He finally suspected that he had been defrauded and reported the case to the police, according to Chan, who said that investigations into the case were continuing.