Hong Kong Police Detain Businessman Tied to Crypto Investor’s Abduction

A businessman from Hong Kong, linked to four individuals implicated in the kidnapping of a cryptocurrency investor, was recently taken into custody after surrendering to law enforcement. Authorities allege that the vehicle used in the investor’s abduction is owned by the businessman’s family.

Crypto Investor Fails to Repay More Than $1.9 Million

Hong Kong law enforcement recently detained a 70-year-old businessman accused of involvement in the disappearance of a cryptocurrency investor. According to a report in the South China Morning Post, the businessman and his 30-year-old son were arrested shortly after surrendering themselves.

The pair is alleged to be part of a conspiracy that resulted in an unnamed crypto investor being falsely imprisoned over her failure to return more than $1.9 million (HKD15 million) that the businessman had invested in her virtual currency project. Although the businessman and his son were not directly involved in the abduction, the report said they were still being held for questioning as of May 9.

According to Hong Kong officials, a seven-seater vehicle belonging to the businessman’s family had been used to abduct the crypto investor in the Sheung Shui residential district. Meanwhile, during the attack, both the crypto investor and her husband reportedly suffered injuries that required hospitalization.

Following the arrest, Hong Kong police said they were also still searching for the victim’s four captors who may have been paid to commit the act.

“We do not rule out the possibility that the four men were paid to carry out the job,” stated an unidentified source in the report.

As detailed in the report, a businessman from Hong Kong invested in a cryptocurrency project approximately 18 months ago. However, the septuagenarian grew frustrated with the cryptocurrency investor when it became clear that she was unable to return the invested funds.

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