Hong Kong authorities have filed charges against 16 individuals linked to the JPEX cryptocurrency scam, marking a significant move against a large-scale financial fraud that left over 2,700 investors financially devastated. The alleged perpetrators, including former lawyer and social media influencer Joseph Lam, allegedly defrauded these investors of $205.8 million by operating without the required licenses. Hong Kong police have already arrested around 80 people and seized HK$228 million in funds related to this case. The 16 charged individuals are expected to appear before the Eastern Court on November 6th, where they face charges of conspiracy to defraud, fraudulent investment inducement, and money laundering.