Hong Kong police have detained a 70-year-old businessman and his 30-year-old son after they surrendered to authorities over their alleged involvement in the kidnapping of a cryptocurrency investor. The incident stems from a dispute involving more than $1.9 million (HKD 15 million) that the businessman had invested in the victim’s virtual currency project.
Details of the Incident
The kidnapping, which took place in the Sheung Shui residential district, involved the use of a seven-seater vehicle owned by the businessman’s family. According to the South China Morning Post, the cryptocurrency investor and her husband were both injured during the abduction and required hospital treatment.
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Investigation and Arrests
While the businessman and his son were not directly involved in the abduction, their connection to the vehicle used in the crime led to their arrest. They are currently being held for questioning. Authorities are continuing their search for four additional suspects believed to be directly responsible for the kidnapping. There is a suspicion that these individuals were hired to carry out the abduction.
The conflict originated 18 months prior when the businessman invested a significant sum in the crypto investor’s project. Over time, it became apparent that the investor was unable to repay the invested funds, leading to growing frustration on the part of the businessman.
Implications and Ongoing Investigation
This case highlights the risks and volatility associated with cryptocurrency investments and the disputes that can escalate into criminal activities. Hong Kong police are actively investigating the case and seeking the four remaining suspects involved in the kidnapping, as they work to uncover all aspects of this complex situation.
