"WeChat female" pretends to be an expert

Burst

Written by: Huang Weimin, Chen Haoran, Li Jingshan

2021-03-05 12:56

Last update date: 2021-03-05 16:33

The police and the Securities and Futures Commission (SFC) took a joint operation code-named "Combined" to crack down on the "sing high bulk" group.

According to the news, the officers arrested 7 men and 5 women, aged between 23 and 65, on charges of money laundering or fraud, frozen and seized more than HK$900 million in assets.

The Wealth Investigation Team of the Police Narcotics Bureau and the China Securities Regulatory Commission held a joint press conference. Senior Superintendent Zou Xiangyou said that the 12 arrested persons reported separately as employees of securities companies, renovation workers, and businessmen. Some of them included couples, mothers and children, and brothers. , Former colleagues of a securities company, etc., including the mastermind of a criminal group or the transfer of proceeds of crime.

Regulators are very concerned about the use of social media to "sing high in bulk". Earlier, the China Securities Regulatory Commission issued a press release on related behaviors and requested 15 brokerage firms to freeze the accounts of suspicious clients.

The "sing high bulk" technique is to use social platforms to tout the potential and price of stocks, misleading investors to buy at high positions, and then illegal groups sell large amounts of stocks at high positions to make profits.

According to the news, the police and the Securities Regulatory Commission took a joint action and eventually arrested 12 locals on money laundering or fraud charges. They were 7 men and 5 women, aged between 23 and 65.

During the operation, the SFC and the police froze a number of securities and bank accounts, and seized a large amount of cash and valuables, with a total value of more than HK$900 million, involving a number of different stocks.

The criminal group became active last year

The police and the Securities and Futures Commission (SFC) took a joint operation code-named "Combined" to crack down on the "sing high bulk" group.

The operation yesterday (5th) mobilized more than 160 people and raided a total of 27 places in Hong Kong, 18 of which were joint searches.

The search locations included luxury houses in The Peak, Central District and Wan Chai, and securities companies on Hong Kong Island. The police arrested 7 men and 5 women, aged between 23 and 65, on charges of money laundering or fraud. They were reported as employees of securities companies, renovation workers and businessmen. Some people have relationships such as couples, mothers and children, brothers, and former colleagues of securities companies, including the masterminds of criminal syndicates or transfer of proceeds of crime. Assets of more than HK$900 million have been frozen and seized, including more than 80 million yuan and more than 9 million yuan. Yuan property.

The police believe that they have successfully dismantled a huge local securities market manipulation group. The Acting Senior Superintendent of the Narcotics Bureau (Wealth Investigation) Zou Xiangyou said that he had received a referral from the SFC to investigate a crime that started operation at the end of 2018 and was active last year. Groups, which are involved in market manipulation, laundering of criminal proceeds, and other activities, use banks or stock accounts to conduct unusual stock transactions or transfer operations in a few months or a year.

The police reiterated that money laundering is a serious crime, punishable by a fine of HK$5 million and imprisonment for 14 years.

Zou pointed out that there are 210 fraud reports in 2020 compared to 2019, but they mainly come from virtual currencies and have no record of high bulk cargo.

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