Key Takeaways
- Hong Kong prosecutors have charged Chu Ka-fai, an internet celebrity, with three additional counts of money laundering connected to the JPEX crypto fraud case.
- Chu is accused of laundering approximately HK$18.8 million through several banks between November 2020 and August 2023.
Hong Kong prosecutors have added three new money laundering charges against Chu Ka-fai, a crypto influencer known as “Master Zhu,” in connection with the JPEX crypto fraud case, according to local reports.
The 34-year-old defendant played a key role in promoting the JPEX crypto exchange, which allegedly defrauded thousands of investors in Hong Kong. The case is seen as the city’s largest crypto fraud on record, resulting in losses of over $206 million and affecting more than 2,700 investors.
Prosecutors told the court on Friday that they had amended the original charges against Ka-fai, accusing him of laundering about HK$18.78 million through four bank accounts between 2020 and 2023. He now faces four counts of money laundering in total.
The case will be transferred to the District Court for trial, with a further hearing scheduled for March 27 while transfer documents are prepared. The defendant remains on bail.
Police have charged 16 people in connection with the JPEX investigation, including internet personalities Lin Zuo and Chen Yi. More than 80 arrests have been made to date, and Interpol red notices have been issued for three alleged ringleaders who are still at large.
Source: https://cryptobriefing.com/jpex-crypto-fraud-case-january-2026-update/
