Hong Kong Charges 16 Individuals in JPEX Crypto Scandal
The Hong Kong police have charged 16 individuals involved in the crypto platform JPEX scandal, including a renowned internet celebrity.
Hong Kong police have formally charged 16 individuals in the JPEX scandal. They include Joseph Lam Chok, a former barrister, insurance manager and renowned social media influencer. The charges include «conspiracy to defraud». Three more individuals, identified as two masterminds and a core member of the group, have fled overseas and Interpol notices have been issued for them.
The scandal was first uncovered in September 2023 and investigations led to 80 arrests and the freezing of HK$228 million ($29 million) in assets, including HK$14.5 million of cryptocurrencies, property holdings, luxury vehicles, bank balances and cash.
The case is one of Hong Kong’s largest fraud probes with total reported losses of approximately HK$1.6 billion from 2,636 complainants, as of February 2025.
