Overview
- Sixteen defendants, including Joseph Lam, appeared in Eastern Court to face about 50 counts spanning fraud, inducing investment and money laundering.
- Lam and several others were released on bail under travel and reporting conditions, while former TVB actor Cheng Chun-hei was remanded in custody.
- Prosecutors asked to transfer the case to the High Court, and the magistrate scheduled a committal hearing for December 15, 2025.
- Interpol red notices are in place for three fugitives — Mok Tsun-ting, Cheung Chon-cheong and Kwok Ho-lun — whom authorities say played central roles.
- Police cite more than 2,700 victims with reported losses of roughly HK$1.6 billion, around 80 arrests and HK$228 million seized, in a prosecution that for the first time uses Hong Kong’s anti-money-laundering law for a crypto case.