Hong Kong Influencer Joseph Lam Released on Bail in HK$1.6 Billion JPEX Crypto Fraud Case
The post Hong Kong Influencer Joseph Lam Released on Bail in HK$1.6 Billion JPEX Crypto Fraud Case appeared on BitcoinEthereumNews.com.
TLDR Joseph Lam and seven others granted bail over the alleged HK$1.6B JPEX cryptocurrency fraud case in Hong Kong. Lam allegedly misled investors by claiming JPEX held multiple international licenses between July and Sept 2023. Prosecutors requested the case be moved to the High Court, with a committal hearing set for December 15, 2025. One defendant, Cheng Chun-hei, was denied bail, while others were released under conditions with cash up to HK$300,000. Interpol issued Red Notices for three suspects who fled; over 2,700 investors reported HK$1.6B in losses. Hong Kong influencer Joseph Lam and several others were granted bail following charges linked to the HK$1.6 billion JPEX crypto scandal. Lam, previously a barrister and now a well-known crypto promoter, appeared in the Eastern Magistrate’s Court alongside seven others on Thursday. They face multiple charges involving fraud, conspiracy to defraud, and inducing investments in unlicensed virtual assets. Allegations of False Investment Claim As reported by Blockonomi earlier, between July and September 2023, Lam allegedly made misleading statements to promote the JPEX platform. Authorities said Lam claimed JPEX held multiple international licenses and that he had exclusive insider knowledge. Police said these statements led investors to place funds into JPEX, which was later declared unregulated by Hong Kong’s Securities and Futures Commission. Lam was among a group of eight who arrived in court under custody. The group included YouTuber Chan Wing-yee, 38, known as “Chan Yee,” and 31-year-old former TVB actor Cheng Chun-hei. Also present were several over-the-counter crypto trading house operators and influencers, all facing related charges. Prosecutors Ask to Move Case to High Court Prosecutors requested that the case be transferred to the High Court, citing the severity of the offenses. The magistrate scheduled a committal hearing for December 15. Lam and Chan were granted bail with a cash deposit…
Filed under: News - @ November 6, 2025 11:29 am