A jobless man was arrested for writing three bad cheques that he used to buy three cars and profit from reselling them, Apple Daily reported Thursday.
The man, surnamed Wong, reportedly has a criminal record.
He contacted a car seller on a second-hand car sales website on April 15, and agreed to buy a Volkswagen Golf for sale at HK$109,000 (US$14,060).
Wong, 29, deposited a cheque into the seller’s bank account and showed the seller the bank-in slip.
Without confirming whether the cheque had been cashed, the seller went to the Transport Department to transfer the ownership of the vehicle to Wong.
Wong subsequently put up the vehicle for sale on a website for HK$100,000.
He repeated the trick on May 6, scamming another seller out of a Toyota race car for HK$251,000.
Wong WhatsApped the bank-in slip to the seller, who was unaware of the fraud.
Both sellers called the police after realizing the cheques had bounced.
Police identified Wong as a suspect and noticed he had just “bought” a Mercedes two days earlier for HK$428,000 and immediately posted it for resale online.
Officers posing as potential buyers arrested Wong after calling him and asking for a test drive in Sham Shui Po.
New Territories North Senior Inspector Chow Tsz-hin said the three victims were between 32 and 50 years of age, and the total value of the three cars was estimated at HK$780,000.
Chow called for prospective car sellers to verify the collection of funds before transferring the rights to their vehicles.
Buyers should also exercise extra caution if a car is being put up for sale at a significantly low price or if documents showed that it changed hands within a short period of time.
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