The Commercial Crime Bureau of the Police arrested Lin Zuo on suspicion of connection with the JPEX case, a virtual asset trading platform named by the SFC, and searched Lam Zuo's office in Central Entertainment Bank. As a prominent figure in recent years, Lam's remarks have been irritated, and he has appeared on the Hong Kong news and entertainment news pages from time to time. He first appeared in the eyes of the public as "Qing Hong Disciple" and "Mak Ming Shi's Old Love", and then gave up practicing barrister to switch to various professions, each turning point is like a serial. He joined the insurance industry as a financial planner, but was fired from the insurance company for the Pumping Hollywood Square murders. He then switched to virtual currencies, announced in July that he had applied to become a partner of JPEX, and introduced JPEX at a lecture.
Lin Zuo himself has a lawsuit, and was convicted by a judge of careless driving and fined 2000,<> yuan. Dissatisfied with the outcome of the trial, he decided to appeal to the High Court. This time, Lam was involved in the JPEX case and was arrested by the Commercial Crime Bureau.
▼ Multiple figures. Lin Zuo was escorted by the police to the office of the Central Entertainment Company for search▼
The 33-year-old Lin Zuo often makes out-of-character remarks and appears in entertainment news from time to time because of gossip with his artist girlfriend. He was admitted as a barrister and studied under senior barrister Ching Hong. After applying to give up his practice, he switched to multiple industries, and occasionally participated in the entertainment industry. In February 2017, Lin Zuo signed a ten-year contract with Zun Li School to become an IELTS course instructor and an education consultant for overseas IELTS courses. In 2, he sparked an online swear battle with Chung Pearson, the "father of e-sports in Hong Kong", and then fought in the ring, and finally won by Chung Pearson.
From April 2020, he joined the insurance industry and worked as a financial planner at Prudential until June 4, when he made a statement on social media about the murder in Place de Holywood, and was dismissed by Prudential for allegedly making inappropriate remarks.
He then switched to virtual currencies, announced in July that he applied to become a JPEX partner, and introduced JPEX at a lecture to rent an OTC OTC for an over-the-counter cryptocurrency changer at Central Casino for a monthly rent of 7,26 yuan. JPEX has not been licensed by the SFC and has not applied to the SFC for a licence to operate a virtual asset platform in Hong Kong. The SFC also noted that JPEX and those who actively promote JPEX to the Hong Kong public and money changers were observed to be suspicious.
Lam Zuo went to the police station earlier to provide information to clarify his relationship with JPEX, denied being a partner, and claimed to "come up with a role to help people get justice", but was arrested by the Commercial Crime Bureau this morning (18th). At about 12 noon, the police seized large stacks of cash and boxes of evidence, and Lam Chok was escorted into a private police car by two detectives accompanied by a man believed to be a lawyer and taken to the Central Police Station.
Lin Zuo also got into trouble with officials earlier. Lam was charged with one count of careless driving while driving a red sports car into a pillar at the parking lot of the Cheung Kong Group Centre in Central in June last year. Lam Zuo earlier denied the charges and was convicted at the Sha Tin Magistrates' Court on 6 March this year and fined $3,10. Lin Zuo was not satisfied and decided to appeal to the High Court, saying: "This fine of 2000,2000 mosquitoes is expensive for me, of course, I should tie it, oh!" However, I appealed hard, and frankly said that it was part of the process, and I only tied the first half of the episode, and I will go to the Admiralty High Court in the second half of the episode. 2000,<> mosquitoes are only tied as if for insurance."
Following the SFC's press release on Wednesday, Lam posted on IG in the early hours of Thursday morning, stating that he and Lam Chok OTC would not publicly promote and mention any unlicensed exchanges in Hong Kong. (Lin Zuo IG)
JPEX was warned by the Securities Regulatory Commission 01 Multiple countries raided and uncovered the registered "heads" in various places The actual person in charge is a mystery, JPEX was named and warned by the Securities Regulatory Commission and listed 6 suspicious points and was asked to stop promoting services and products
The China Securities Regulatory Commission listed six major doubts and asked Internet celebrities to stop promotion
The SFC said on Wednesday (13th) that it noticed a virtual asset trading platform called "JPEX", which was actively promoted through online celebrities and over-the-counter money changers (OTCs). The SFC clarified that none of the entities under JPEX Group are licensed by the SFC and have not applied to the SFC for a licence to operate a virtual asset trading platform in Hong Kong. The SFC also listed six major suspicious points:
(1) JPEX states on its website that it is "a licensed and recognized digital asset and virtual currency platform". It claims on its website and in local editorial advertisements that it has obtained licenses from a number of overseas regulators to operate virtual asset trading platforms, which is actually inconsistent with the facts.
(2) JPEX offers extremely high returns on some of its products.
(3) The SFC received complaints from retail investors and noted media reports that retail investors had failed to withdraw virtual assets from their accounts opened with JPEX or found that their account balances had been reduced and changed.
(4) Some of the products offered by JPEX appear to involve virtual asset arrangements, such as "deposits", "savings" or "income" of virtual assets that are not permitted under the SFC's virtual asset trading platform regulatory regime.
(5) JPEX advertised on its website and local editorial advertisements that it had entered into a business partnership with and received investment from a Hong Kong listed company, when in fact the cooperation had been terminated and the listed company had not actually made any investment.
(6) Influencers and OTC money changers made false or misleading statements on social media that JPEX had independently or jointly applied for a virtual asset trading platform licence in Hong Kong with a Hong Kong listed company, when in fact none of the JPEX Group entities had submitted any application for a virtual asset trading platform licence to the SFC.
After the SFC issued a statement, JPEX responded on its website, saying that it had previously announced that it "intended" to apply for a Hong Kong license, was preparing documents, and had not yet submitted an application.