Two more caught in expanding JPEX web

A TVB actor and another man have been detained over alleged links to the scandal-hit cryptocurrency exchange platform JPEX, taking the number of those arrested to 20, according to sources.

Sources said police arrested 29-year-old TVB actor Cheng Chun-hei in Tai Po and a 28-year-old man surnamed Lau in Tuen Mun.

It is understood that Cheng is a TVB contract artist, having appeared in two popular drama series and started gaining fame in reality show 7-List Stars aired last year.

JPEX was named by the Securities and Futures Commission on September 13 for operating without a license, with the regulator subsequently alleging fraud and referring the case to police.

The scandal involved at least HK$1.5 billion and over 2,500 victims.

Police arrested Lau, believed to be a member of a criminal syndicate, and raided his residence in The Bloomsway in Tuen Mun, where a white Porsche sports car was seized.

Commercial Crime Bureau officers arrested Cheng in Tai Po on suspicion of conspiracy to commit fraud and seized a white Porsche worth about HK$1.4 million - believed to be proceeds from the crime - in Nam Hang Tsuen, Yuen Long.

TVB said it was trying to "understand the situation and [Cheng's] personal behavior does not represent the position of the broadcaster."

Meanwhile, two men linked to the case who were arrested in Macau and transferred to Hong Kong on Saturday have been released on bail. Both have to report to police later this month.

Cheng has a YouTube channel offering weekly highlights of the crypto trade. His latest video was uploaded on August 2.

Cheng is understood to have been arrested and charged with disorder in public places in August after he and five companions shouted at social workers and doctors at Alice Ho Miu Ling Nethersole Hospital in Tai Po.

A dispute erupted at the hospital corridor after the six were refused to visit the victim of a child-abuse case who was receiving treatment at the hospital on August 2.

All six appeared in Tuen Mun Magistrates' Courts on August 4. The next hearing is scheduled for tomorrow.

In a separate development yesterday, police announced the setting up of a dedicated joint working group with the Securities and Futures Commission following a meeting last week to enhance cooperation in monitoring and investigating illegal activities related to virtual asset trading platforms.

The working group comprises representatives from the force's commercial crime, cyber security and technology crime, and financial intelligence and investigation bureaus, and SFC's enforcement and intermediaries divisions.

Assistant police commissioner Chung Wing-man said the joint police-SFC working group will be instrumental to facilitate "vital intelligence exchange in response to the challenges arising from [virtual asset trading platform issues].

stacy.shi@singtaonewscorp.com