Millionaire Who Gave Away $12 Million USD In Cash In Hong Kong Was Not A Bitcoin Millionaire

Millionaire Who Gave Away $12 Million USD In Cash In Hong Kong Was Not A Bitcoin Millionaire

A very curious story happened in Hong Kong recently. The story, which was reported by many of the major media outlets, tells the story of a millionaire who reportedly sprayed more than $12 million USD in cash in one of the poorest districts of Hong Kong.

He simply threw the cash off an apartment building and it was reported that he was a Bitcoin millionaire. The information turned out not to be the truth, though.

The man, which was arrested after the event, was actually a Ponzi scheme millionaire. The president of the Bitcoin Association of Hong Kong, Leonhard Weese, has affirmed that the man, which was called Wong Ching Kit, was 24 years old and was known for being a very wealthy person.

Weese affirmed that his wealth had nothing to do with Bitcoin. Instead, he made money off uncautious investors operating a Ponzi scheme. The pyramid-like scheme was very harmful to the community in the country and Weese affirmed that it was “disappointing” to see him getting so much praise uncritically as people did not make their research to know how the money was gained.

The Man’s Scam

Originally, Wong was reported to have operated a very large pyramid scheme. The promise was that you would get at least four times more money than you invested and people gained money when they convinced other people to join.

Not only this, but the man was also arrested in 2012 for stealing mobile phone at the time that he was working at Kowloon Park as a swimming instructor. Basically, the guy is a criminal, not any reputable Bitcoin investor.

He was linked in 2017 to gold trading scams by local publications in which female brokers approached investors to put money in gold and then ran away with the cash. According to the information we have seen, the girls claimed to be investment consultants and had social media profiles full of deluxe cars and watches.

The scam was actually very successful as many investors did not even meet personally with the scammers and allowed them to open accounts and sign documents for them. Wong was involved in this scam and in many others across the years.

It is possible that the crypto link appeared because he had been recently promoting a crypto mining computer that cost over $3,000 USD and was possibly a sort of a scam, too, as most crypto miners are cheaper.

Won could almost be considered a professional scammer. He put so much money together during the last years by fooling people and taking their money.

Not Actually Related To Bitcoin

Despite the “crypto computer”, there is no real reason to explain why the man has been linked to Bitcoin. He never actually invested in Bitcoin during his whole life and only in the last scam we cited he was actually talking about cryptos.

There were also dozens of reports stating just how much of a scammer the man was, so it was really a big mix-up to have confused him with a proper Bitcoin investor.

The money that Wong distributed, among $300,000 USD in cash (and not actually $12,000,000 USD as it was first reported), came from scams. The Hong Kong media has covered so many of the scams that it is strange how people have forgotten about it and everybody was thinking that he was a Bitcoin investor.

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