Hong Kong police arrest 7 over bogus HK$10 million bankruptcy loan scheme

Hong Kong police have arrested seven members of a fraud syndicate accused of swindling nearly 100 victims out of HK$10 million (US$1.3 million) by luring them into taking out loans under a bogus bankruptcy scheme and then charging hefty handling fees that left them even further out of pocket. The case first surfaced last year after four victims reported receiving cold calls offering help in securing low-interest loans. They were later invited to an office in Kwai Fong, which falsely claimed to...