Hong Kong police arrest two men in latest JPEX case

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Hong Kong police arrest two men in latest JPEX case

The Hong Kong police have arrested two men in connection with the JPEX cryptocurrency scandal, resulting from their return by Macau authorities.

The Hong Kong Police have arrested two men in relation to the scandal over the cryptocurrency platform JPEX after Macau authorities returned them to the city. On Friday, the force announced that two Hong Kongs, both 29, had been detained in neighbouring Macau, with HK$6.5 million in cash and valuables seized. They also frozen about HK$8.2 million in their casino accounts. While Hong Kong and Macau do not have official extradition agreements, assistant police commissioner Chung Wing-man said it was up to courts in the casino hub to decide what to do with the suspects.

The pair arrived handcuffed and covered at the Hong Kong-Macau ferry terminal in Sheung Wan at 6pm on Saturday, and were hauled into vans by police before being driven away. Hype, celebrities and talk of easy money: a look behind Hong Kong's JPEX scandal police said yesterday that two other men, both 28 years old, had been detained in connection with the case. The men in the latest bust were described as being close to the core of JPEX, which is the largest fraud case in Hong Kong. The number of people arrested in the city has increased to 18, with the force saying that more could be expected. He said police had also traced several people who had fled the city and the force would ask for international cooperation. Hong Kong security chief Hong Kong security chief says they had received 2,417 complaints against the trading platform involving more than HK$1.5 billion in alleged losses as of Friday. Earlier arrests included social media influencers who had advertised the trading platform and set up their own over-the-counter shops. The group was led by Sheena Leung, Joseph Lam Chok and Chan Wing-yee. The dramatic collapse of JPEX began on September 13 when Hong Kong's Securities and Futures Commission accused the platform of operating without a license and a number of other'suspicious' activities. However, JPEX has denied claims and started implementing excessive withdrawal fees for users hoping to take out their virtual assets.