Hong Kong JPEX Probe Deepens as Influencer Faces New Money Laundering Charges
Hong Kong's crackdown on the collapsed JPEX cryptocurrency platform has intensified with fresh charges against internet personality Chu Ka-fai, known as 'Zhu Gongzi.' The 34-year-old now faces four counts of money laundering tied to HK$18.78 million allegedly processed through accounts at Chung An Bank, Mox Bank, Lee & Wah Bank, and HSBC.
Prosecutors allege Chu knowingly handled proceeds from indictable offenses between November 2020 and August 2023. The case forms part of a broader investigation into JPEX, which authorities claim defrauded thousands of investors through its VIRTUAL asset trading operations.
The Eastern Magistrates' Court has adjourned proceedings as prosecutors prepare to escalate the case to the District Court. This development underscores Hong Kong's tightening regulatory stance on cryptocurrency-related financial crimes.
