6 arrested over HK$14m agarwood and crypto investment scam that ran for 9 years
Por Jess Ma — South China Morning Post – News feed
Advertisement Crime in Hong Kong Hong Kong Law and Crime 6 arrested over HK$14m agarwood and crypto investment scam that ran for 9 years
BBB Group allegedly offered fake agarwood, crypto and car-wash ‘investment’ plans before SFC placed firm on watch list
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Jess Ma Published: 7:13pm, 15 Oct 2026
Hong Kong police have arrested six people allegedly tied to a nine-year scam run by a suspected cross-border criminal syndicate offering business opportunities in agarwood and cryptocurrency, with funds involved reaching HK$14 million (US$1.78 million).
Superintendent Allan Chu Ming-lun of the commercial crime bureau said on Thursday that investigations began in September after the force received 21 reports from victims, mostly elderly people, saying they had been investing in various products offered by BBB Group (Hong Kong) as early as 2017.
“The firm involved would use various excuses to delay investors’ cash withdrawals, in a bid to evade their responsibility of paying them back,” Chu said.
Most of the victims were aged between 52 and 82. Individual investment amounts ranged from HK$30,000 to HK$1.9 million, with the total from the 21 victims reaching HK$14 million.
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