MTR Corporation manager allegedly defrauded of HK$74 million in green bond scam

A senior manager at Hong Kong rail giant the MTR Corporation was allegedly conned out of HK$74 million (US$9.4 million) in a two-year-long scam by a fraudster posing as an employee of HSBC UK who lured the victim into investing in green bonds.

Police said on Friday they had received a report from a 59-year-old man who claimed he had been scammed. The case has been classified as obtaining property by deception, and no arrests have been made.

“The victim said he received a phone call from a scammer claiming to be an HSBC UK employee, who lured him into investing in green bonds,” the force said.

Following the scammer’s instructions, the victim made 12 transfers totalling about HK$74 million to designated overseas bank accounts – including an account at Barclays Bank in the United Kingdom – between February 2024 and January this year.

“The victim subsequently failed to recover the funds, suspected he had been scammed, and reported the case,” police said.

A source said the victim was a senior manager at the MTR Corp and that the scammer had used the Barclays Bank account to receive the money.