One of the brothers, a 29-year-old bank officer surnamed Li, allegedly convinced the elderly man in 2023 that he could set up an internet banking account for investment purposes, police said on Saturday.
He then asked for the victim’s bank information and subsequently transferred about HK$2.6 million in multiple transactions over nearly a year to various accounts belonging to his family and friends.
His brother, 33, is alleged to have allowed his bank account to be used for laundering more than HK$1 million of the money.
Police said they began investigating the case in mid-February when bank staff alerted authorities about suspicious transfers involving around HK$2.6 million in total from the 79-year-old’s account. The man’s son had questioned the bank after discovering the case.
Following intelligence analysis and an in-depth investigation, officers arrested the 29-year-old in Tai Po on Thursday and the 33-year-old in Sham Shui Po the following day.
