In the wake of the high-profile JPEX suspected fraud case, a gripping narrative unfolds as authorities grapple with a staggering 2,407 reports and requests for assistance received.
Over 300 individuals have already been contacted, shedding light on a reported sum of approximately 1.49 billion Hong Kong dollars that may be ensnared in this labyrinthine scheme.
Thus far, it has already led to the arrest of 15 individuals who are now inextricably linked to the case.
Simultaneously, authorities have undertaken a series of high-stakes manoeuvres, conducting searches at 16 over-the-counter (OTC) cryptocurrency exchange shops.
In these operations, they have seized a substantial cache of 8 million Hong Kong dollars in cash.
A pivotal twist in this saga lies in the freezing of assets exceeding 77 million Hong Kong dollars, a treasure trove of properties and cryptocurrencies whose true origins are shrouded in mystery.
The commitment of the authorities to a thorough investigation is palpable, and their resolve extends beyond Hong Kong’s borders.
If any of the implicated individuals seek refuge beyond these shores, the machinery of international cooperation will be set in motion.
Their determination knows no bounds as they vow to employ every conceivable means to bring the perpetrators to justice.
Who Are Those Newly Arrested In The JPEX Case?
Among the arrested individuals is the apprehension of a 29-year-old internet celebrity bearing the moniker Xiang Xiang, and the surname Leung.
Known for her persona as a “resident analyst at Unicoin,” she frequently imparts her investment insights via a personal YouTube channel, garnishing her online presence with Instagram snapshots.
On the virtual landscape, she has earned the title of the “goddess of the cryptocurrency world.”
Her Instagram profile states that is under Unicoin
Curiously, an investigation reveals that neither “Katrina Ho” nor “Ling Tam,” as professed by “UNICOIN,” appear on any official registration documents.
The director of the affiliated “Rose And Shield Digital Limited” is identified as “Cheng Chun Ming Eric.”
“UNICOIN,” once an advocate for JPEX, made a public about-face after a stern warning from the Securities and Futures Commission (SFC), citing a temporary suspension of their collaboration with unlicensed exchanges, ceasing all promotional activities and advertising tied to unlicensed exchanges.
Netizens reported a police raid at the “UNICOIN” store situated on Nathan Road in Prince Edward.
Among the cast of characters, two more have come under the spotlight.
One is a 23-year-old man bearing the surname Chung, serving as a director at Lupin, another off-site cryptocurrency exchange shop.
Intriguingly, a similar arrest transpired on 26 September, with a 28-year-old man, surname Wong, who shares the same directorial title at Lupin.
As the police underscore, the investigation continues its relentless pursuit, leaving open the possibility of additional arrests.
The Commercial Crime Bureau’s officers are tenaciously tracing leads, providing vital threads of information that are instrumental in the ongoing narrative.
Yet, while recoveries are made, and the list of detainees expands, the shadowy figures orchestrating this grand deception remain elusive.
Secretary for Security Chris Tang Ping-keung emphasises the crucial necessity of apprehending the central operators, recognizing their role as linchpins in unravelling the intricacies of this elaborate scheme.
Furthermore, he divulges an intent to collaborate with regulatory bodies, charting a course towards implementing measures aimed at preventing such fraudulent undertakings in the future.