Hong Kong Celebrity Julian Cheung Assists Police in JPEX Investigation Amid Scandal

Hong Kong's entertainment scene has been rocked as popular singer and actor Julian Cheung Chi-lam, widely known as Julian Cheung, became the latest figure to assist the police in their investigation into the JPEX scandal. This development follows the recent arrests of 11 individuals, including social media influencer Joseph Lam Chok, in connection with the controversial virtual asset trading platform, which is embroiled in a financial scandal amounting to HK$1.3 billion.

Julian Cheung's involvement in the investigation stems from his previous association with JPEX as the brand ambassador for the platform in the Hong Kong region. Despite his non-involvement in any financial investments with JPEX, the actor has found himself at the center of the unfolding controversy.

The actor's management company clarified that Julian Cheung's cooperation with the investigation was voluntary and stemmed from his commitment to upholding legal and ethical standards. In a statement issued by Julian Cheung's management company, Two Pigs Limited, they detailed the timeline of their involvement with JPEX and their actions once they became aware of the platform's dubious status.

In March 2022, Julian Cheung's company engaged an advertising agency to film commercials and promotional photos for JPEX. The collaboration was seen as a significant move, with Julian Cheung lending his star power to the burgeoning virtual asset trading platform. However, their cooperation took an unexpected turn when they learned that JPEX had been classified as an “unlicensed company and suspicious website” by the Securities and Futures Commission.

Upon discovering this troubling information in September 2022, Julian Cheung's management company took swift action. They officially notified the advertising agency to terminate the collaboration agreement immediately, emphasizing that no one should use or publicly release any advertising materials featuring Julian Cheung without their authorized approval.

Furthermore, the management company clarified their stance on the matter in the statement: “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 authorized approval.”

In light of the ongoing JPEX investigation, Julian Cheung willingly participated in a recorded video session during the police inquiry on September 19, 2023. Following this, he has been allowed to leave the enforcement department, displaying a composed demeanor during interactions with the media.

Julian Cheung expressed gratitude for the concerns shown by the public and stated that he is consulting with his legal team to determine whether a formal statement is necessary. This cautious approach underscores his commitment to navigating the situation responsibly.

While Julian Cheung's decision to sever ties with JPEX demonstrates a proactive approach in response to the platform's unlicensed status, the legal implications surrounding his involvement remain complex. The resolution will largely depend on the specific terms and conditions outlined in the contract between Julian Cheung's management company and JPEX.

If the contract stipulated that JPEX must maintain a valid license throughout the agreement, Julian Cheung's termination of the contract in September 2022 could be viewed as a lawful action, relieving him of any further obligations. However, if the contract did not explicitly address the licensing requirement, questions about the management company's responsibility in ensuring legal compliance may arise.

The JPEX scandal serves as a stark reminder of the intricate legal intricacies that can accompany high-profile endorsements and business partnerships in the

cryptocurrency

industry. As the investigation into JPEX continues to evolve, the extent of Julian Cheung's and his management company's liability for the period between March 2022 and September 2022 will become clearer through legal experts' assessments and authorities' investigations.

In a city where celebrity endorsements carry significant weight, this case highlights the importance of due diligence and the potential legal ramifications that can arise when individuals or entities are associated with controversial ventures. The JPEX investigation serves as a cautionary tale for both celebrities and businesses looking to forge partnerships in the ever-evolving world of cryptocurrency and virtual asset trading platforms.