Hong Kong, Macau police arrest 8 over HK$100m Vietnam coffee investment scam

Hong Kong and Macau-police" class="entity-link entity-organization" data-entity-id="43355" data-entity-type="organization">Macau Police have arrested eight people in a crackdown on an investment scam syndicate that cheated more than 200 people out of nearly HK$100 million (US$12.75 million) by promoting itself as a pioneer of “kinetic coffee philosophy”.Operating under the name Fun Coffee, the syndicate established a presence in Hong Kong last year, claiming on its website to be a coffee investment enterprise based in Phu Quoc, Vietnam, with assets of more than US$1 billion and a team of more than 5,000.On the English-language website, which remained live on Tuesday, Fun Coffee described itself as a pioneer of “kinetic coffee philosophy” and promoted what it called the world’s first “sports-coffee-value ecosystem”, offering customised coffee-based nutritional support to runners.