Odaily Odaily reports that Hong Kong police have released updates on the investigation into the JPEX virtual asset trading platform fraud case. The investigation, which began in September 2023, has resulted in the arrest of 80 people and the freezing of assets totaling approximately HK$228 million. On March 26, another round of prosecutions was launched, charging 10 individuals with "money laundering" and "conspiracy to launder money."
Chief Inspector Han Chenghao of the Commercial Crime Bureau of the Hong Kong Police Force stated that the JPEX case is the largest in terms of both the number of victims and the amount of money defrauded in Hong Kong in recent years. Over 2,700 victims have filed reports, involving more than HK$1.6 billion. To date, no company or individual has claimed to be the true operator. The police need to conduct extensive investigations to identify the mastermind, core members, or accomplices behind the JPEX case. (Hong Kong Commercial Daily)
