[ad_1]
A flashy car, a flamboyant villa and a showcase – a young cryptocurrency promoter left a strong impression on Saturday's Hongkongers, after being linked to at least HK $ 6,000 in cash from a Sham Shui Po building, the district poorer than the city.
Wong Ching-kit, who denied being behind the acrobatics that sent the spectators to the streets below in a money-laden frenzy, was arrested on Sunday after making a second appearance in the area.
The drama continued after he was granted bail and released on Tuesday. Wong then donated $ 92,000 HK to a Sham Shui Po restaurant to feed the poor.
As expected, the incidents have attracted interest in Wong, but he bit more than he can chew in his clash with the police?
Who is "Coin Young Master"?
Wong, 24, is best known as "Coin Young Master" online – a name proudly displayed in his Sai Kung villa in the New Territories. Paying attention to its sparkling image are a handful of luxury cars, including a Maserati and a Mercedes-Benz, parked outside the sumptuous house.
Cash from the sky sends the crowd in delirium to Sham Shui Po
From the beginning of this year, Wong has published a Facebook page and various online groups promoting investments in cryptocurrencies, including "File Cash Coin", which he claimed to have co-founded.
The name was also emblazoned on Wong's luxury car which drove on Sham Shui Po on Saturday, and mentioned in a promotional video he had published.
Although many thought the incidents were an attempt to promote cryptocurrency, the value of File Cash Coin plummeted on Sunday at $ 4.44 from the US $ 14.69 peak.
Look for the list of Wong records as director and owner of Coin & # 39; s Group, a company with an office in Tsuen Wan.
Francis Fong Po-kiu, president of the Hong Kong Information Technology Federation, warned that the trading of File Cash Coin was not regulated, as those who followed him never collected funds from the public through an "initial offer of coins" – similar to a public offer for stocks.
"By skipping this step, they may have avoided falling under the regulation of the Monetary Authority," Fong said.
Andrew Powner, a veteran criminal defense attorney at Haldanes, said the cryptocurrency was not regulated, but perfectly legal in Hong Kong at the moment, even though it had a reputation for criminal activity.
The man lives stop streams on banknotes falling from the sky in Sham Shui Po
Asked by Tuesday's press if his cryptocurrency business was a scam as some have claimed, Wong said, "I reject all charges and if a person thinks he is a victim of fraud, he should report it to the police."
Before being known as "Coin Young Master", Wong was born Kwan Tsz-kit and previously worked as a swimming instructor. He was convicted of theft and sentenced to 160 hours of civil service in 2012 and changed his name later.
Wong is behind the acrobatics?
A few moments before the stacks of banknotes waved from a building on Saturday, Wong was seen coming out of a flashy car and making a short speech in the area.
"Do you think money can fall from the sky?", He asked Shui Po in a video he posted online.
But after the accident, he denied any involvement, saying that he was not the one who threw the money.
Wong later announced that he would distribute food stamps outside a restaurant in the district at 4:00 pm on Sunday, but was arrested when he showed up.
The police said they suspected that Wong was behind the acrobatics on Saturday, adding that other people could be arrested.
The man tied to the money thrown away from the building gives HK $ 92,000 to a charity restaurant
Why Wong was caught?
The police brought Wong to public for disorder.
The offense is punishable by a maximum fine of 5,000 HK $ and 12 months imprisonment.
Veteran attorney Osmond Lam said that Wong's high profile promotion both on the spot and online suggested his role in the prowess, and that his actions could have caused chaos in public.
"If you distribute money privately, who cares?" Lam said. "He was doing everything in public, apparently to attract media attention."
Lam added that Wong could be further investigated for other potential cryptocurrency crimes, as the police raided his Tsuen Wan office on Monday.
Viewers broke the law by collecting money?
Although some lawmakers have claimed to believe that those who have collected the money run the risk of committing theft, Lam does not agree. "If money has fallen from a van, then it belongs to the bank, but this money has been thrown out of a building, [supposedly] as a present. "
Lam's opinion that passers would not be held responsible, lawyer Daniel Wong Kwok-tung said police probably prevented people from withdrawing money as a "precaution".
He added that there was a possibility that the money owner had not authorized the act of giving it away. "Then money will still be seen as his or that".
Police said around 6,000 dollars in banknotes were collected at the scene.
Two arrested in the case of Christmas Eve cash spills in Hong Kong
Have there been similar cases of money paid on the streets?
A spill from a transport van hired by the Bank of China has sent drivers and passersby in delirium on Christmas Eve 2014.
Three people who used the money were sentenced for theft in 2015.
One of them, a janitor, suspended his one-month prison sentence for 18 months for taking HK $ 8,000.
Another person, who fled with HK $ 161,500, was sentenced to five months in prison.
The third man who cashed HK $ 500,000 had his sentence reduced to 240 hours of community service after spending two weeks in prison.
What could be next for Wong?
Wong is on bail and must report regularly to the police. On Wednesday, no charges against him were pressed.
Meanwhile, a police source said that the police were investigating the case and seeking legal advice.
For the latest news from the South China Morning Post, download our mobile app. Copyright 2018.
[ad_2]Source link
