There is a new development in the JPEX fraud case involving more than HK $1.60 billion of non-licensed virtual asset trading platform in Hong Kong in 2023. The Hong Kong Police Force announced on November 5, 2025 that it will formally charge 16 people, including 6 JPEX core members. In addition, three core individuals are fleeing overseas, and the Hong Kong Police have issued a red notice (hereinafter referred to as the "red notice") through the International Criminal Police Organisation.
Chief Superintendent Wong Chun-yu of the Commercial Crime Bureau of the Hong Kong Police Force disclosed at the media briefing that a total of 80 people have been arrested in the JPEX case so far, including 14 core members of the JPEX crime syndicate, 16 people are the person in charge of the over the counter platform (OTC) and the "Internet celebrity" who promotes it, and 50 people are the holders of the puppet account involved. The police froze assets 228 million Hong Kong dollars, including cash, luxury cars, bank accounts, gold bars, virtual assets, etc.
New developments in Hong Kong virtual asset platform JPEX fraud case: 16 people prosecuted
2025-11-06 04:21:15
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