Frederico dos Santos Rosario a shareholder of a Hong Kong-based technology company arrested Monday by the Macau Judiciary Policeover a cryptocurrency investment scam was released today on bail.
Rosario was subject to the payment of a security of 50,000 patacas and forced to make weekly presentations to the authorities.
The coercive measures were applied by the criminal investigating judge early in the evening.
The businessman was arrested Monday afternoon and taken to the Public Prosecutor’s Office for questioning.
Frederico dos Santos Rosario is suspectedover a cryptocurrency investment scam.
The Judiciary Police (PJ) said that Rosario, 34 -year-old local businessman, is suspected to defraud a total of 71 locals – aged between 22 and 63 – that have invested 14.2 million patacas.
They invested between 10,000 and 1.8 million patacas each.
Under investigation the police discovered that Rosario and a Hong Kong man surnamed Lau held multiple e-sports and cryptocurrency mining investment seminars on the premises of a local group in Zape between January and June, persuading attendees to get involved in the investment.
Rosario himself is also a shareholder who owns a 10 percent share of the company.
The meetings were held at the headquarters of the Macau Civil Servants Association (ATFPM), of which Rosario’s mother, Rita Botelho dos Santos, is the president of the general assembly.