20th September 2023 – (Hong Kong) 33-year-old ex-lawyer turned social media influencer Joseph Lam Chok, who was implicated in the JPEX case, has been arrested and detained at the Central Police Station for two days and one night. He was released on a HK$300,000 bail and must report to the police in mid-October. Last night (19th), in an attempt to evade the media waiting at the front entrance, Lam discreetly left through the back door with his girlfriend, Hiromi Wadai, covering his face and quickly boarding a car. Lam, who had previously made high-profile investments in the cryptocurrency market, leased a unit in Entertainment Building in Central measuring over 2,900 square feet for approximately HK$260,000 per month. He opened an over-the-counter (OTC) exchange called “Lam Chok Coin Speculation” in Central on 9th September.
Unexpectedly, following the turmoil surrounding the JPEX case, Lam is suspected to have terminated his lease today (20th). The office has been cleared out, with the prominent “Lam Chok Coin Speculation” sign removed, and even the company name has been taken down from the building’s ground floor sign. Online photos show that while the reception area still displays orchids gifted to Lam on the opening day, the “Lam Chok Coin Speculation” sign above the entrance has been taken down, and some items have been packed and placed on a trolley, ready to be removed.
During this evening, it was discovered that the massive sign “Lam Chok Coin Speculation” above the office entrance had been dismantled and the two glass doors were covered with white paper. The signage for Chok Station Limited in the lobby on the respective floor has not been covered yet, but the building’s ground floor sign no longer bears the names “Lam Chok Coin Speculation” or “Chok Station Limited”.
Joseph Lam had previously mentioned in a media interview that he rented units A and B on the lower floors, with a combined area of 2,908 square feet, at a monthly rental of approximately HK$260,000. Based on a two-year lease, the total rental expenses amount to over HK$6 million. If Lam does indeed terminate the lease, he may be required to provide compensation.