Hong Kong Influencer Zhu Gongzi Charged with Money Laundering in JPEX Crypto Fraud Case
Zhu Gongzi, whose real name is Chu Ka-fai and who is 34 years old and described as a jobless internet influencer, faces four counts of money laundering. These charges were revised to include three additional counts related to approximately HK$18.78 million in illicit proceeds. The prosecution is seeking to transfer the case from the Eastern Magistrates Court to the District Court, with a hearing adjourned until March 27 to prepare the necessary transfer documents under Magistrate Lin Zikang.
These charges are part of the broader JPEX fraud case involving the collapse of the unlicensed cryptocurrency exchange in 2023, which authorities say defrauded thousands of investors. Hong Kong police and prosecutors have received reports from over 2,700 victims claiming losses amounting to about HK$1.6 billion, approximately US$206 million, as of early 2026. More than 80 individuals have been arrested, and authorities have frozen around HK$228 million in assets including cryptocurrencies, cash, luxury vehicles, real estate, and gold bars.
In November 2025, sixteen people connected to JPEX, including promoters and over-the-counter operators, were charged. Among them, notable figures Joseph Lam Chok and Chan Wing-yee were released on bail. Interpol has issued red notices for three suspected key masterminds believed to have fled Hong Kong. On December 15, 2025, the main trials for eight primary accused individuals were rescheduled to March 16, 2026 to allow prosecutors additional time to organize the extensive evidence gathered during a two-year investigation. Later in December 2025, three more individuals were charged with laundering about HK$7.79 million and attempting to obstruct justice.
