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JPEX Crypto Fraud Case Intensifies as Influencer Faces Additional Money Laundering Charges

JPEX Crypto Fraud Case Intensifies as Influencer Faces Additional Money Laundering Charges

Author:

Global Cryptocurrency

Published:

2026-01-02 22:17:02

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BTCCSquare news:

Hong Kong authorities have escalated their investigation into the JPEX cryptocurrency exchange scandal, with influencer Chu Ka-fai now facing four counts of money laundering. The case, which has left over 2,700 investors nursing combined losses exceeding $206 million, represents one of the city's most significant crypto fraud probes.

Prosecutors allege Chu laundered HK$18.78 million through four digital banks between 2020 and 2023. The Eastern Magistrates' Court has adjourned proceedings until March 27 as the case prepares to MOVE to the District Court, reflecting the gravity of the allegations.

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