Chu Ka-fai, also known as ‘Master Zhu,’ now faces four counts of money laundering. Allegations include laundering about HK$18.78 million through several banks from November 2020 to August 2023.
This fraud case represents the largest cryptocurrency-related fraud in Hong Kong, impacting over 2,700 investors and resulting in losses exceeding $206 million. A total of 16 individuals have been charged as part of the ongoing investigation.
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