Three men who impersonated staff of banks and law firm were arrested for cheating six people of HK$1.1 million in telephone scams.
They even rented an office to make victims believe in them.
The three men, aged from 19 to 28, were arrested on Thursday for conspiracy to defraud.
The police said they received reports between July and August on telephone scams. The fraudsters told citizens they were staff of a reputed bank in the city and can offer citizens loans with low interest rate.
As citizens became interested in soliciting the loans, the fraudsters then handed the contact information of the citizens over to his partners, who asked citizens for their salary statements and address proof.
After citizens submitted relevant documents, the fraudsters would then tell citizens that their applications for the loans had been granted, and ask them to visit a “law firm” in Kowloon City to conduct financial assessment.