32-year-old woman charged with money laundering in connection with JPEX scam

A 32-year-old woman was charged with five counts of money laundering in connection with the sprawling fraud investigation into the virtual asset trading platform JPEX, involving over HK$40 million, and appeared in the Eastern Magistrates' Courts for the first time on Monday. 

The defendant Ng Hoi-yee, who did not enter a plea, had her case adjourned after the prosecution requested time to combine her charges with related cases before transferring the matter to the District Court for trial.

Magistrate David Cheung Chi-wai adjourned the case to June 18 and granted the defendant's bail application. Bail was set at HK$300,000.

Ng, reportedly unemployed, is charged with five counts of dealing with property known or believed to represent proceeds of indictable offense.

The charge alleges that between July 2020 and April 2023, Ng handled over HK$40 million through accounts at several local banks, despite allegedly knowing the funds were linked to indictable offenses.