Police Arrest 3 over 'Craft Beer Machine' Investment Scam as 6 Elderly Victims Lose More Than $4 Million

Police have cracked an investment scam fronted by 'craft beer machines', arresting 2 men and 1 woman aged 46 to 54 in Yau Ma Tei yesterday at an office and related residences on suspicion of conspiracy to defraud. From November last year the gang claimed the beer machines were leased out on the mainland, guaranteed a 60 per cent annual return and the return of principal after 2 years; from July this year it suspended payouts for 3 months on the grounds of preparing for a listing, and when payouts resumed in October the return had dropped to an annual interest rate of 6 per cent. Six victims aged 55 to 81 lost a total of about HK$4 million, and police said the gang had no actual operations or listing action in Hong Kong.