The sentencing hearing for the cryptocurrency mining business scam trial involving local businessman of Frederico Rosário and Hong Kong businessman Dennis Lau has been delayed to April 6 following some last-minute proposed changes today (Friday) to the accusation facts by the Court of First Instance presiding judge.
Lau and Rosário are standing trial for 48 counts of fraud involving some HK$12 million (US$1.4 million) in money lost by investors in a crypto mining business set in Hong Kong.
In September 2018, Rosário was arrested by police authorities, questioned by the Public Prosecution Office (MP) and later released after paying a bail set at MOP50,000.
The next year the MP put forward charges against Rosário and his business partner for fraud, however, while the local businessman was detained and attended the court sessions in Macau, Lau has never been detained in Macau and never attended any court session.
Rosario and Lau held several seminars at the Macau Civil Servants Association (ATFPM) in which an investment opportunity into Forger Tech a company engaged in a cryptocurrency mining business in Hong Kong was presented to possible local investors.
Cryptocurrency mining receives bitcoin as a reward for completing “blocks” of verified transactions, which are added to the blockchain.
Rosário’s parents Rita Santos and Frederico Alexandre do Rosário, director of the Administration Council of local broadcaster…
