Key Takeaways
- Hong Kong prosecutors have charged Chu Ka-fai, an web celeb, with three further counts of cash laundering linked to the JPEX crypto fraud case.
- Chu is accused of laundering roughly HK$18.8 million by a number of banks between November 2020 and August 2023.
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Hong Kong prosecutors have added three new cash laundering prices towards Chu Ka-fai, a crypto influencer often known as “Grasp Zhu,” in reference to the JPEX crypto fraud case, in accordance with native studies.
The 34-year-old defendant performed a key function in selling the JPEX crypto alternate, which allegedly defrauded hundreds of traders in Hong Kong. The case is seen as town’s largest crypto fraud on file, leading to losses of over $206 million and affecting greater than 2,700 traders.
Prosecutors advised the court docket on Friday that that they had amended the unique prices towards Ka-fai, accusing him of laundering about HK$18.78 million by 4 financial institution accounts between 2020 and 2023. He now faces 4 counts of cash laundering in whole.
The case will likely be transferred to the District Court docket for trial, with an additional listening to scheduled for March 27 whereas switch paperwork are ready. The defendant stays on bail.
Police have charged 16 folks in reference to the JPEX investigation, together with web personalities Lin Zuo and Chen Yi. Greater than 80 arrests have been made thus far, and Interpol pink notices have been issued for 3 alleged ringleaders who’re nonetheless at massive.
