Hong Kong Businessman and Son Surrender to Police Over Kidnapping of Crypto Investor in $1.9 Million Dispute
A Hong Kong businessman and his son have surrendered to police in connection with the abduction of a cryptocurrency investor, according to a local news outlet, the South China Morning Post, citing sources familiar with the matter.
The 70-year-old man and his 30-year-old son were arrested on suspicion of false imprisonment and assault, according to police sources. As of Thursday morning, they remained in custody for questioning.
Accompanied by their lawyer, the pair turned themselves in at Tai Po Police Station on Wednesday afternoon. They were subsequently arrested on suspicion of false imprisonment and assault. Although the surrendered suspects were not directly involved in the abduction itself, investigations revealed that the vehicle used in the incident belonged to their family.
The businessman’s frustration reportedly stemmed from his investment in the cryptocurrency project approximately 18 months ago. Despite initial optimism, the inability of the investor to repay the funds led to escalating tensions and, ultimately, the unfortunate abduction incident.
The businessman had allegedly invested approximately HK$15 million (US$1.9 million) in virtual currency around 18 months ago with the assistance of the victim, whom he had known through referrals. Preliminary investigations suggest that the businessman encountered difficulties retrieving the invested funds, and the victim was occasionally unreachable.
According to Hong Kong authorities, the abduction took place in the Sheung Shui residential district, where the victim’s husband attempted to intervene and was attacked with a stun gun. Both the husband and wife sustained injuries primarily to their limbs and were subsequently hospitalized for treatment.
As of midday on
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