Previously, it was reported that 'cryptocurrency millionaire' Wong Ching Keet started the "rain" of money in one of the poorest areas of Hong Kong. As it turned out, Wong is well known to the local community, and not in the best light.
Hong Kong's Bitcoin Association President Leonard Weese, in a conversation with CCN, said that 24-year-old Wong, who was detained by police immediately after organizing this performance, is not a cryptocurrency millionaire and made a fortune at the financial pyramid.
He’s not a Bitcoin Millionaire. He is running a pyramid-like scheme well known in the community. Disappointed this is getting so much uncritical attention.
President, Hong Kong Bitcoin Association
According to earlier media reports, Wong organized a large financial pyramid that guaranteed more than four times more investment. He was arrested and found guilty of stealing mobile phones in 2012 when he worked as a swimming instructor.
In 2017, Wong was tied up with the so-called “London gold trading scam”, where women brokers were invited to attract investors without any prospects for a refund.
The girls claimed to be successful investment consultants. They also displayed a posh lifestyle on social media by showing off deluxe cars and watches. Some victims hadn’t even met the so-called financial stars before they agreed to open accounts, signed documents to authorise brokers to trade on their behalf and passed the account password to the girls.
Marina Yin Hiu-yu
Chief inspector, Hong Kong’s Commercial Crime Bureau
Even then, many investors suspected that Wong was associated with this and other similar schemes.
Recently, he started promoting cryptocurrencies minners worth more than $ 3,000, which exceeds the average price for equipment of a similar purpose.
The young man has given media interviews under various monikers, promoting investment products, including a HK$27,500 computer he claimed could be used for cryptocurrency mining. Company search reports showed Wong owns a company called Coin’s Group. The firm was initially called Oscar Holding Group in 2017 but the name was changed on July 3 this year.
South China Morning
Presumably, most of the wealth of Wong came to him from the organization of various fraudulent schemes.
Numerous scandals involving Wong have been actively covered over the past five years in the local media. Obviously, the “act of charity”, committed by him on Sunday, which according to one sources is estimated at $ 300,000, and others - at $ 12 million, was not funded by successful investments in Bitcoin and other cryptocurrencies.