Hong Kong father and son surrender in crypto investor abduction, exposing the city’s violent crime wave and a $1.9 million financial dispute.

A Hong Kong businessman and his son surrendered to police due to their involvement in the kidnapping of a crypto investor, as reported by the South China Morning Post. Authorities arrested the 70-year-old man and his 30-year-old son on suspicion of false imprisonment and assault. Both subjects are currently undergoing interrogation at the Tai Po Police Station. Investigations revealed that while the suspects were not directly involved in the incident, the car used belonged to the duo.

The businessman reportedly invested approximately HK$15 million (around $1.9 million) in crypto with the help of a woman he had known through referrals. Preliminary investigations suggest that the businessman couldn’t retrieve the money, and the woman was occasionally unreachable, potentially leading to the escalation of criminal actions.

During the kidnapping, the woman’s husband was reportedly assaulted by an unknown individual with a stun gun when he tried to intervene, resulting in injuries. It is suspected that a group of four men was paid to carry out the job. This incident is the second kidnapping in Hong Kong within 32 hours, raising concerns about the increasing criminal activities in the city.

In early 2024, the Hong Kong Securities and Futures Commission (SFC) reported a significant rise in crypto-related crimes over the past three years, with cases totaling billions of yuan. This highlights the need for investors to exercise caution and due diligence when engaging in cryptocurrency transactions.

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