JPEX Scandal: Social Media Star Joseph Lam Chok Breaks Silence at Press Conference

The HK police have arrested 11 people, including social media stars Joseph Lam Chok and Chan Yee, for allegedly running an illegal cryptocurrency exchange platform called JPEX. The case has attracted 2,197 complaints so far, with a total amount of HK$1.37 billion involved. Joseph Lam Chok, who was released on bail on Tuesday (Sept. 19), said on Instagram that he would hold a press conference today (Sept. 22) at 3pm to update the public on the situation.

Joseph Lam Chok showed up at 3pm sharp, with his lawyer by his side, for the press conference, while his girlfriend, Hiromi Wada stood behind him. He said that he was not charged when he left the police station on the 19th and was granted bail. He would not make any public or private comments on any aspect of the case, he added.

In addition, Joseph Lam Chok mentioned that his office in Central was terminated yesterday and all operations were halted. He said that he was still optimistic and wanted to help and participate in various activities, but he could not do so because of the ongoing criminal investigation.

According to Joseph Lam Chok, he would try to help those affected as much as he could and as legally as possible once he was cleared of all charges. He also promised that he would cooperate with the law enforcement agencies until the truth of the incident was revealed, and hoped that the masterminds behind the scene would be brought to justice soon.

He declined to answer any questions related to the JPEX case, saying that they involved the details of the case. However, he did say that he had done his best to cooperate with and assist the police in their investigation.

As Fazzaco reported earlier this week on Monday, the JPEX crypto exchange has been accused of operating without a license​, leading to the arrest of 11 people for suspected conspiracy and fraud. Actor Julian Cheung and actress Jacqueline Ch'ng are also expected to assist the police in their investigation.

Joseph Lam Chok, who is involved in the JPEX scandal, recently entered the crypto investment market with a high profile. In late August this year, Lam rented a unit of more than 2,900 square feet in Central's Entertainment Building for about HK$260,000 per month. He set up an OTC exchange and officially opened it on September 9th.