************************************************
Police arrested three men and five women for conspiracy to defraud in Kowloon Bay yesterday (May 25) afternoon.
The eight arrested persons (APs) were the directors and core members of a company located at the Hong Kong International Trade & Exhibition Centre, Kowloon Bay.
Police investigation revealed that between February 2005 and May this year, the APs had conspired and induced about 200 victims into fraudulent cash-planting schemes.
All the victims were told to pay about HK$2,100 for joining the scheme and in return they would receive a net profit of HK$9,200 in 18-month period.
The loss of the victims involved is approximately HK$2.16 Million.
All the arrested persons, aged between 29 and 52, are still being detained for further questioning.
The police will continue to monitor the activities of pyramid scheme related fraud. Any one who might have fallen prey to such fraud schemes are encouraged to call the Commercial Crime Bureau hotline 28605012.
Police Report No.2
Issued by PPRB
Ends/Friday, May 26, 2006
Issued at HKT 03:03
NNNN
