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Hong Kong arrests 20 people for false document MPF withdrawals


Hong Kong’s Independent Commission Against Corruption (ICAC) announced the arrest of 20 individuals for allegedly using false documentation to unlawfully withdraw from government pension funds early. This comes amidst heightened scrutiny of Hong Kong pension funds after over 140,000 residents relocated to the UK post-2020, following China’s implementation of the national security law. The UK’s British National (Overseas) passport offer to these migrants has been a point of contention, with the local pension authority, deeming it invalid for fund withdrawals. The mastermind behind the fraud, an insurance agent, allegedly produced fake documents suggesting pension scheme members were moving to mainland China, taking bribes amounting to thousands of Hong Kong dollars. All suspects, including 10 pension scheme members, have been released on bail.

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