Eight arrested in JPEX crypto scam, including influencers, face fraud and money laundering charges

Eight individuals, including influencers Joseph Lam Chok and Chan Yee, appeared in court on Monday over alleged fraud involving the JPEX virtual currency platform, with losses totaling around HK$110 million.

The case involves charges of conspiracy to defraud, fraud, fraudulently or recklessly inducing others to invest in virtual assets, and dealing with property known or believed to represent proceeds of an indictable offense.

The defendants are 31-year-old Cheng Chun-hei, 28-year-old Siu Wing-him, 35-year-old Joseph Lam Chok, 38-year-old Chan Wing-yee, 31-year-old shop assistant Au Cheuk-kei, 25-year-old fitness coach Chiu King-yin, 31-year-old Leung Yee-sheung, and 28-year-old Ho Kei-man.

At Eastern Magistrates' Court today, the prosecution requested an adjournment until March 16 next year to organize case files.

Magistrate Minnie Wat Lai-man approved the delay.

Seven defendants continue on existing bail terms, while one remains in custody without a bail application.