Protesters stung by UK property scams gather in Hong Kong demo

Over 20 victims of alleged property fraud scams in the UK have protested in front of the British consulate in Hong Kong, the South China Morning Post has reported.

Democratic Party lawmaker James To Kun-sun handed in a letter on behalf of more than 150 buyers, calling on consulate officials to intervene.

To Kun-sun said he was representing in total 200 to 300 buyers who purchased property – mostly flats – in about a dozen different projects in the UK.

Most acquired property through Hong Kong-based estate agents and paid at least half of the price as a deposit.

But the investors realised that the flats would not be completed.

Some victims also discovered that one of the British developers had left the country.

To Kun-sun said: “I hope that the UK police and the Hong Kong police join hands to investigate these cases because the contracts were signed here, but ultimately the money was lost in the UK.

“Our main aim is to draw attention to the fact that there are serious fraud cases involving UK property, in which Hong Kong people have been victims of over the past years.”

Buyers reported their cases to Hong Kong Police, the UK’s national reporting centre for fraud and cyber crime Action Fraud, as well as to the Estate Agents Authority and Security and Futures Commission in Hong Kong.

So far they haven’t found a way to recover their investments.

“If these scams continue without proper investigation and rectification, the UK’s reputation at large would be at stake also,” To Kun-sun said.

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