Joseph Lam Chok holds press conference after bail release, revealing latest developments

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Joseph Lam

22nd September 2023 – (Hong Kong) The cryptocurrency exchange platform JPEX has come under scrutiny for its alleged unlicensed operation, leading to the arrest of 11 individuals, including social media influencers Joseph Lam Chok, and Chan Yee. As of yesterday, the police have received 2,197 reports related to the case, involving an estimated amount of HK$1.37 billion.

Joseph Lam Chok, who was granted bail on Tuesday, announced via Instagram yesterday evening that he would hold an urgent press conference today at 3pm to provide the latest updates on the case.

Joseph Lam Chok appeared punctually at 3pm, with a solemn expression, accompanied by his representative lawyer, for the press conference, while his girlfriend, Hiromi Wada stood behind him. He stated that he left the police station on the 19th without being charged and was granted bail. He mentioned that he will not comment on any aspect of the case publicly or privately. Furthermore, he revealed that the lease for his office in Central had been terminated the day before, and all operations had been suspended. Despite facing the situation, he chose to remain positive and expressed his desire to assist and engage in various activities. However, due to the ongoing criminal investigation, he is currently unable to do so. He expressed his intention to help those affected within the limits of his abilities and within the confines of the law once he is cleared of all charges. He also pledged his cooperation with law enforcement agencies until the truth behind the incident is unveiled, hoping that the individuals behind the scenes will be brought to justice as soon as possible. Regarding questions related to the JPEX case, he refrained from commenting, stating that they involve the specifics of the case. However, he did mention that he had “slept well” in the past two days. He also highlighted that the office lease at Entertainment Building in Central has been terminated.

He mentioned that while he was in the police station, he had a meal of char siu rice and iced lemon tea brought to him by his girlfriend. As for leaving the police station through the back door, he responded by saying it was a result of “police-public cooperation.” Throughout his time at the police station, he stated that he had tried his best to cooperate with and assist the police in their investigation. Meanwhile, he also agreed with netizens’ comments describing his girlfriend for being fully supportive.

When asked if he regrets getting involved with JPEX, Lam responded by saying that when something happens, one must face it bravely and do their best to resolve it. He emphasized that he takes full responsibility for his actions. However, his mother is extremely worried about the situation. From a traditional parental perspective, the situation is already very serious. Not every Chinese person is familiar with the concept of the presumption of innocence in common law, so there is great concern. She expressed her apologies and worries. As for whether his mother will provide him with financial support, he jokingly acknowledged that he knows people will criticise his occupation as being a “son,” but he mentioned that he will handle the situation on his own. He also casually mentioned that the current situation has put a strain on his relationship with his girlfriend, and he expressed his deep concerns about the matter.

The JPEX cryptocurrency exchange platform has been implicated in unlicensed operations, resulting in the arrest of 11 individuals for alleged conspiracy and fraud. Notably, actor Julian Cheung and actress Jacqueline Ch’ng are also expected to assist the police in their investigation.

Recently, Joseph Lam Chok, who has become embroiled in the JPEX controversy, made a high-profile entrance into the cryptocurrency investment market. In late August of this year, Lam leased a more than 2,900 square feet unit in Central’s Entertainment Building for approximately HK$260,000 per month. He set up an over-the-counter (OTC) exchange and officially opened the establishment on 9th September.