Hong Kong crypto fraud ‘licensed’ in Australia, linked to Sydney unit
Authorities in the city suggest that up to $300 million has been frozen by the exchange. Some investors are turning their attention to its local connections. JPEX, the Hong Kong cryptocurrency exchange which collapsed owing more than $300 million, was marketed as an Australian-licensed operation and registered to an apartment building in Sydney's north. The Securities and Futures Commission claims the company misled investors after telling them JPEX had applied for cryptocurrency trading licences when it had not. Jeremiah Hartmann has become the target of investor ire in Hong Kong but insists he never met the founders of the exchange. Hong Kong authorities have received more than 2400 complaints about the exchange, and assets totalling as much as $HK1.5 billion ($300 million) were frozen. Documents filed with the Australian Securities and Investments Commission show a company known as JP-EX Crypto Asset Platform was registered in 2020, describing its purpose as marketing. The sole director, Jieyi Chen, applied to deregister the company on the same day that police inHong Kong arrested several of its staff.
Pubblicato : 2 anni fa di Jessica Sier in Finance
JPEX, the Hong Kong cryptocurrency exchange which collapsed owing more than $300 million and is the focus of a major fraud operation by the city’s financial authorities, marketed itself as an Australian-licensed operation and was registered to an apartment building in Sydney’s north.
Authorities in Hong Kong last week said they had opened an investigation into alleged fraud, arresting staff. The Securities and Futures Commission claims the company misled investors after telling them JPEX had applied for cryptocurrency trading licences when it had not.
The Australian Financial Review can reveal that a Sydney voice presenter and actor has become embroiled in the collapse after performing in JPEX promotional content. Jeremiah Hartmann has become the target of investor ire in Hong Kong but insists he never met the founders of the exchange.
Hong Kong authorities said last week that they have received more than 2400 complaints about the exchange, after assets totalling as much as $HK1.5 billion ($300 million) were frozen.
JPEX, which has been in operation since 2020, promoted itself as a licensed business in Australia, Canada and the United States. Documents filed with the Australian Securities and Investments Commission show a company known as JP-EX Crypto Asset Platform was registered in 2020, describing its purpose as marketing. The entity’s sole director, Jieyi Chen, applied to deregister the company on the same day that police in Hong Kong arrested several of its staff. Ms Chen could not be reached for comment.
Temi: Cryptocurrency, Australia, Hong Kong, Fraud, Corruption