Hong Kong Police arrested 14 people aged between 19 to 60 suspected to be connected with a syndicated insurance fraud case during an operation on Wednesday.

According to a Police report released on Wednesday, the Commercial Crime Bureau (CCB) officers on Wednesday arrested 10 men and four women after raiding 20 residential and commercial premises across the city.

The 14, including four syndicate members, two other insurance agents, two middle-men and six insurance policy-holders, were arrested for offenses of conspiracy to defraud, obtaining pecuniary advantage by deception and perverting the course of justice.

All arrested are still being detained for further inquiries. The operation is ongoing.

The CCB officers made the investigations after receiving a complaint lodged by a local insurance company early this year that five of its insurance agents were suspected of conspiring with other people to apply for a large number of high commission rate insurance policies in order to meet sales quota and obtain lucrative performance bonuses and various remuneration packages.

Source: Xinhua