Youtuber granted bail as JPEX case adjourned to July

Youtuber Chu Ka-fai, who has been charged with money laundering in connection with the JPEX crypto trading platform scandal, was granted continued bail on Thursday after the case was adjourned to July 14. 

The 34-year-old, who claimed to be unemployed, faces four counts of dealing with property known or believed to represent proceeds of indictable offence. Chief District Judge Justin Ko King-sau granted the defense’s request for an adjournment pending legal advice. 

Chu will continue his bail until the next hearing in mid-July. 

The court heard that between November 23, 2020 and August 30, 2023, Chu handled approximately HK$18.8 million in funds across four digital bank accounts, specifically with ZA Bank, Mox Bank, Livi Bank and WeLab Bank, knowing or having reasonable cause to believe the funds were benefits from indictable offences. 

The JPEX investigation remains one of the city’s largest alleged financial fraud cases, with 27 individuals being prosecuted so far.