TL;DR
- Hong Kong influencer “Zhu Gongzi” faces 4 new cash laundering costs tied to $2.4M (HK$18.78M) linked to the JPEX crypto platform investigation.
- The broader JPEX case entails over 2,700 victims and reported losses of ~HK$1.6B, with greater than 80 arrests and HK$228M in belongings frozen.
- Trials for key defendants, together with barrister-influencer Joseph Lam, are actually scheduled for March 2026.
Prosecutors in Hong Kong filed 4 money-laundering counts in opposition to web influencer “Zhu Gongzi” (Chu Ka-fai) tied to HK$18.78 million routed by means of accounts at Chung An Financial institution, Mox Financial institution, Lee & Wah Financial institution, and HSBC.
The Division of Justice supplied steerage, and the prosecution plans a District Courtroom switch. Justice of the Peace Lin Zikang set March 27 for administrative steps. Chu appeared in courtroom and stays on bail.
Authorities folded the submitting into the broader probe of JPEX, a virtual-asset platform accused of defrauding a big investor base. The Securities and Futures Fee (SFC) warned in September 2023 that JPEX operated with out a license. Shortly after the warning, the platform froze withdrawals and raised withdrawal charges, a transfer that triggered a surge in complaints from customers unable to entry funds.
Timeline and scale of alleged losses
Police reviews point out greater than 2,700 victims and losses close to HK$1.6 billion by early 2026. Investigators arrested over 80 folks and froze about HK$228 million in belongings, together with cryptocurrency, money, luxurious autos, actual property, and gold bars. In November 2025, prosecutors filed costs in opposition to 16 people, amongst them barrister-turned-influencer Joseph Lam Chok and YouTuber Chan Wing-yee; each obtained bail.
Former tv actor Chengg Cheng stays in custody after failing to fulfill bail situations. Police additionally issued Interpol pink notices for three suspected masterminds believed to have left town.
Courtroom schedules proceed to shift underneath the load of proof. On December 15, 2025, the Japanese Magistrates’ Courtroom rescheduled fundamental trials for eight defendants to March 16, 2026, giving prosecutors time to arrange materials collected throughout a two-year investigation.
The Chu Ka-fai cost sheet outlines exercise from November 23, 2020 to August 30, 2023. Prosecutors argue Chu knew, or had cheap grounds to consider, that funds represented proceeds of indictable offenses and nonetheless processed them. The courtroom retains bail in place whereas the switch bundle strikes ahead.
Hong Kong tightens crypto oversight because the legal case advances
Regulators and law-enforcement models have stepped up critiques of buying and selling promotions, over-the-counter venues, and influencer campaigns that entice customers with out clear authorization or investor-protection safeguards. Authorized practitioners count on further administrative actions on advertising and marketing and custody preparations, alongside legal prosecutions the place proof helps fraud or laundering allegations.
For victims and token holders, instant priorities embody forensic tracing of flows, asset restoration, and accountability for promoters and facilitators. The following key date is March 27, when the prosecution intends to finish switch steps for District Courtroom proceedings.
The March 16, 2026 trials will middle on banking data, on-chain evaluation, and forensic accounting, with skilled testimony aimed toward linking pockets exercise, fiat actions, and alleged promotional conduct.
Key details at a look: 4 new costs, HK$18.78 million in questioned flows, >2,700 complainants, HK$1.6 billion in reported losses, >80 arrests, and HK$228 million in frozen belongings.
