21st September 2023 – (Hong Kong) Julian Cheung, a well-known Hong Kong singer and actor, assisted in the investigation related to the ongoing controversy surrounding the virtual asset trading platform JPEX. It is reported that Julian Cheung participated in a recorded video session during the investigation and has now been permitted to leave the enforcement department. Local media contacted Julian Cheung, who promptly answered the phone without any hesitation, displaying a composed demeanour. He mentioned that Anita Yuen, his wife, was present during the interview and stated, “I was invited. I had been in contact with the police for the past two days. Currently, I am consulting with my legal team to determine whether a formal statement is necessary. Thank you all for your concern. Everything is fine!”
Previously, Julian Cheung served as the brand ambassador for JPEX in the Hong Kong region. However, his management clarified that he had not been involved in any investments. After completing an advertisement shoot last year, Julian Cheung’s team sent a written notice to JPEX, stating that if the platform failed to obtain a licence, they would not be allowed to use his image for promotional purposes, reserving the right to take legal action. Later in the evening, Julian Cheung issued a statement through his company, revealing that in March 2022, his company had engaged an advertising agency to film commercials and take promotional photos for JPEX. Subsequently, upon learning that JPEX had been listed as an “unlicensed company and suspicious website” by the Securities and Futures Commission, the company officially notified the advertising agency in September 2022 to terminate the collaboration agreement immediately.
Official statement issued by the management company:
“We, as the management company of artist Julian Cheung, hereby provide a clarification statement concerning recent reports linking the artist to the virtual asset trading platform JPEX:
- In March 2022, our company engaged an advertising agency to film commercials and take promotional photos for JPEX.
Subsequently, upon learning that JPEX had been listed as an “unlicensed company and suspicious website” by the Securities and Futures Commission, our company officially notified the advertising agency in September 2022 to terminate the collaboration agreement.
According to the agreement, no person shall use or publicly release any advertising materials, including commercials, promotional photos, behind-the-scenes footage, or any related content containing the artist’s image or voice without our company’s authorised approval.
- Recently, our company discovered unauthorised circulation of the aforementioned artist’s photos and videos online. We hereby sternly demand that no person engage in any infringing activities such as publishing, uploading, or reposting without proper authorisation. Our company reserves all legal rights to pursue this matter.
- Regarding the JPEX incident, the artist was invited to assist in the investigation on 19th September.
We hereby issue this statement to clarify the situation and express our gratitude for the concern shown by various parties.
Two Pigs Limited”
While Julian Cheung’s termination of the contract demonstrates his proactive approach in severing ties with JPEX after being informed of its unlicensed status, it does not necessarily absolve him or his management company from potential legal consequences for the period prior to the termination. Contracts are binding agreements, and parties are generally expected to fulfill their obligations until a valid termination occurs.
In this case, the legal implications would depend on the specific terms and conditions outlined in the contract between Julian Cheung’s management company and JPEX. If the contract had specified that JPEX must maintain a valid licence throughout the agreement, and failure to do so would result in termination, then Julian Cheung’s claim of terminating the contract in September 2022 could be viewed as a lawful action, relieving them of any further obligations.
However, if the contract did not explicitly address the licensing requirement or did not provide provisions for termination in such circumstances, there might be legal complexities. The management company’s failure to conduct due diligence regarding JPEX’s licensing status before entering into the contract raises questions about their responsibility in ensuring the legality and compliance of the partnership. It may be argued that they should have taken reasonable steps to verify the licensing status of JPEX to protect their client’s interests and avoid potential legal entanglements.
Ultimately, the legal implications and liability would need to be assessed based on the specific contractual terms, applicable laws and regulations, and any relevant evidence or documentation pertaining to the case. Legal experts and authorities may need to further investigate the situation to determine the extent of any potential liability on the part of Julian Cheung or his management company for the period between March 2022 and September 2022.