MTR Corporation manager loses HK$74 million in green bond scam

A senior manager at MTR Corporation has been defrauded of approximately HK$74 million (US$9.4 million) in a sophisticated two-year investment scam involving fake green bonds.

The victim, a 59-year-old expatriate, reported that the fraud began in early 2024 when he received a call from an individual posing as a senior executive at HSBC UK. The scammer lured the victim into investing in high-yield “fixed-rate equity-linked green bonds.” To build trust, the fraudsters deposited approximately £350,000 in fake dividends into the victim's account between 2024 and 2025.

Between February 2024 and January 2026, the victim made 12 separate transfers totaling roughly £5 million (HK$74 million) to various overseas accounts, including one at Barclays Bank PLC in the United Kingdom. The scam was discovered after the victim requested further investments and the fraudulent dividend payments ceased.

Following the victim's report to the Hong Kong Police Force, investigations revealed that the balances in the recipient accounts were minimal. The case has been classified as obtaining property by deception, and no arrests have been made.