Police arrested the 22-year-old man in Yuen Long Monday night for planning a terrorist attack, arson, conspiracy to commit arson, conspiracy to defraud and money laundering.

Officers said investigations revealed that the man was related to several local crime syndicates, including Returning Valiant. He was found to have provided monetary assistance to the group.

Back then, police arrested 14 members of the group in July last year and said they had smashed the group for good.

The man was a member of another group called Black Bloc as well, and set fire to a Covid-19 testing center in Tsuen Wan on May 28 last year, according to police.

He also plotted to set fire to other government testing centers alongside a 20-year-old man and a 52-year-old woman. The other two were arrested Monday night in North Point and Kowloon City respectively for conspiracy to commit arson.

Besides, the 22-year-old man and four other people also cheated about HK$4.7 million of loans from a bank through the government's Special 100% Loan Guarantee Scheme. The four, two men and two women aged 36 to 43, were arrested Tuesday for conspiracy to defraud and money laundering.

All seven of them are remanded in custody. Police said investigations are ongoing and more arrests may be made.