Hong Kong Busts Fake Tycoon 'Sugar Daddy' Scam; Victims Include Teachers, Students, Medical Staff

Hong Kong police held a press conference on the 10th, stating that on August 4th they dismantled an online compensated dating scam syndicate. The syndicate posed as wealthy individuals, proposing 'sugar daddy' arrangements and scamming victims out of a 'security deposit.' When victims realized they’d been deceived, the group would then impersonate lawyers offering to recover their losses, essentially carrying out a 'second wave' of fraud.

According to reports from Hong Kong media, on the 4th, police arrested 4 men and 4 women, including the syndicate’s ringleader and core members, on conspiracy to defraud, money laundering, and possession of dangerous drugs. The case involves 80 separate incidents, with a total amount exceeding 6.2 million HKD (about 3.23 million MYR), and in one case a victim lost as much as 480,000 HKD (about 250,000 MYR). Police stated that the victims this time come from a wide range of professions, including service industry workers, students, teachers, and medical personnel.

Cybercrime unit superintendent Cheung Hiu-yee described the details of the case, saying the syndicate would first approach victims on social media platforms, pretending to be tycoons and offering 'sugar daddy' arrangements with lucrative monthly payments of 50,000 to 70,000 HKD (about 26,000 to 36,500 MYR) to lure the targets into signing so-called 'confidentiality contracts.' Victims would then be added to chat groups where accomplices pretended to be lawyers and tycoons, even showing business cards to create a professional and authoritative image and gradually win the victims’ trust.

During discussions about sugar daddy arrangements, the scammers would require victims to transfer money for legal fees and breach of contract penalties to various accounts, also claiming that the full amount would be refunded after contract completion. Once victims completed the transfers, the scammers would cut contact, and the victims would then realize they had been scammed—the so-called 'sugar daddy' scheme never really existed.

Some victims, upon discovering the scam, were then contacted by fraudsters impersonating lawyers again, claiming they could help recover the losses and luring victims into paying 'service fees.' After making these payments, victims would finally realize they had fallen for a 'second wave' of fraud.

Of the 80 victims, 65% were female. The victims' ages ranged from 19 to 41, with 69% aged between 19 and 29. The victims came from a variety of backgrounds: the largest group from the service and retail sector (such as sales staff and waitstaff) and clerical support staff, accounting for 52% in total; students made up 20%. Among them were also professionals, including teachers and medical personnel, who made up 15%.