TLDR
- Prosecutors have added three more money laundering charges against influencer Chu Ka-fai in the JPEX fraud case.
- The total number of charges against Chu now stands at four, involving over HK$18 million in suspected illegal proceeds.
- The case will move from the Eastern Magistrates’ Courts to the District Court for further legal proceedings.
- Magistrate Lin Zikang scheduled the next court date for March 27 to allow time for preparing transfer documents.
- Chu remains free on bail and is reported to be unemployed according to court statements.
Hong Kong prosecutors have added new charges in the ongoing JPEX case, targeting internet influencer Chu Ka-fai with four counts of money laundering, escalating the case to the District Court, while over 2,700 investors report losses exceeding HK$1.6 billion, and more suspects face legal action as the investigation progresses.
Influencer Faces More Charges in District Court Escalation
Prosecutors have charged influencer Chu Ka-fai, known as “Zhu Gongzi,” with three more counts of money laundering. The Eastern Magistrates’ Courts heard the revised charges on March 2, bringing the total to four counts. The case will now move to the District Court for further proceedings.
Chu, 34, remains on bail and allegedly has no formal employment. Local outlet Wen Wei Po reported his latest court appearance this week. Magistrate Lin Zikang adjourned the matter to March 27 for transfer document preparation.
Authorities say Chu’s charges stem from HK$18 million in suspected illegal funds. Prosecutors confirmed they had received advice from the Department of Justice. They stated, “We plan to proceed with trial at the District Court.”
JPEX Investigation Expands with New Defendants and Evidence
The JPEX investigation has widened since the Securities and Futures Commission flagged the platform in September 2023. Regulators warned it operated without a license and misled investors. Soon after, JPEX suspended withdrawals and increased fees sharply.
As complaints surged, police launched a large-scale operation into the case. They have now arrested over 80 individuals linked to the platform. Among them are influencers, legal professionals, and OTC operators.
Prominent names include barrister-turned-influencer Joseph Lam Chok and YouTuber Chan Wing-yee. Both were granted bail after their arrests in late 2025. However, former actor Chengg Cheng remains in custody for failing to meet bail conditions.
Interpol red notices are active for three suspects believed to have fled Hong Kong. Police continue coordinating internationally to locate these individuals. The case involves a large volume of digital and financial records.
More Charges Filed as Civil Action Progresses
On December 15, 2025, prosecutors requested more time due to the case’s extensive evidence. The court rescheduled trials for eight key defendants to March 16, 2026. Prosecutors cited ongoing evidence organization during the two-year investigation.
New charges were filed in late December against three additional individuals. These relate to laundering HK$7.79 million and attempting to obstruct justice. Investigators are continuing to build the case.
Parallel to criminal proceedings, some victims have turned to civil courts. Civil cases are helping to recover some frozen assets. This process is running alongside the criminal trial timelines.
Police have so far frozen HK$228 million in assets. These include cryptocurrency, cash, property, vehicles, and gold bars. Authorities are also verifying ownership links to suspects.
Hong Kong authorities maintain that over 2,700 victims have come forward. The total reported loss now stands at HK$1.6 billion. Investigations are still active with more arrests possible.
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