TechFlow news, December 18 — According to Ming Pao, the case involving the suspected fraud of virtual asset trading platform JPEX has made new progress. Three male suspects appeared at Eastern Magistrates' Courts today and were granted continued bail: Yu Guanlin, a 27-year-old student; Wong Tsz-kin, 30; and technician Tang Chi-chung, also 30.
Yu Guanlin faces two money laundering charges related to laundering HK$7.79 million between August and December 2023. His case has been approved for referral to the District Court and will be heard on January 8 next year. Wong Tsz-kin is charged with obstructing justice, accused of conspiring with a man known as "Brother Lo" in September 2023 to dispose of items at a premises on Tsing Shan Road in Cheung Sha Wan to hinder official investigations. Tang Chi-chung faces dual charges of obstructing justice and money laundering, involving disposal of documents and items from a unit in Star Boulevard, Cheung Sha Wan, on September 28, 2023, as well as handling approximately HK$880,000 in cash and two Rolex watches valued at around HK$240,000 in total. The cases of Wong Tsz-kin and Tang Chi-chung have been adjourned to January 16 next year at Eastern Court for prosecution preparation of referral documents.
JPEX was exposed in 2023 for suspected fraud, with a total of 16 individuals prosecuted in connection with the incident.
