Hong Kong's "BBB Group" agarwood investment suspected to be a scam, selling over-the-counter stocks and digital assets, police arrest four individuals.

BlockBeats news, October 17 - According to Hong Kong media HK01, Hong Kong's "BBB Group" (Chinese name: Haohaohao Group) claims to invest in agarwood industry in Malaysia and sell over-the-counter stocks and digital assets, suspected of being a scam. The company stated it will convert OTC stocks into "digital asset" cryptocurrencies by February 2027 or earlier. It is reported that Hong Kong police have received reports from 21 people, involving investment projects amounting to $14 million. The Commercial Crime Bureau is investigating under "conspiracy to defraud" and has launched arrest operations, with four people arrested so far.

Additionally, according to the official website of the Hong Kong Securities and Futures Commission, "Malaysia Agarwood Plantation Investment / Agarwood Tree Plan / Agarwood Potted Trees / APT4.0" has been listed as a suspicious investment product.