Hong Kong influencer Joseph Lam has disassociated
himself with the crypto platform JPEX, denying any allegation in the unfolding
JPEX investigation. Lam, who had recently made headlines for his association
with JPEX, held a press conference today (Friday), revealing that he had not
only closed his own company but also terminated the rental contract for his
office.
Lam’s abrupt disassociation from JPEX comes in the
wake of his arrest earlier this week, along with 10 others, all linked to an
alleged conspiracy to defraud that has sent shockwaves through Hong Kong’s
financial landscape. The case in question involves a staggering HK$1.37
billion, making it the largest of its kind in the city.
Lam, who was released on bail without any formal
charges, had been wearing multiple hats as an insurance agent and a former
barrister, but it was his involvement in an over-the-counter (OTC) crypto
exchange store that brought him into the JPEX fold. In July, Lam had taken to
social media to announce his application for partnership with JPEX, confirming
his status as a partner to Ming Pao, a local news outlet that uncovered his
promotional activities for the crypto platform.
However, during his recent press conference, Lam
remained tight-lipped about the extent of his involvement with JPEX, refusing
to provide any specifics beyond announcing his cessation of operations with the
platform and the closure of his company.
Lam Chok, known for his substantial Instagram
following, was apprehended by Hong Kong authorities on Monday. His arrest is
closely linked to the suspension of trading activities on the cryptocurrency
exchange
