HONG KONG (AP) - The Hong Kong government is attempting to confiscate significant assets, including millions of dollars and corporate shares, that it alleges are connected to crimes committed by jailed former media tycoon Jimmy Lai. This information comes from a recent court document obtained by The Associated Press.
The document does not provide details on how the assets, valued at over 127 million Hong Kong dollars (approximately $16 million), are linked to Lai's criminal activities. Although the government had previously announced its plans to pursue asset forfeiture in this case, it did not specify the financial amount at that time.
Jimmy Lai, known for his outspoken criticism of China's ruling Communist Party, founded the now-defunct newspaper Apple Daily. In December, he was convicted of conspiracy to collude with foreign forces as well as conspiring to publish seditious articles. Subsequently, in February, Lai was sentenced to 20 years in prison, which represents the harshest sentence handed down under the national security law imposed by Beijing.
Critics contend that Lai's conviction signifies a degradation of press freedoms and other civil liberties in Hong Kong, which was a British colony until its return to Chinese sovereignty in 1997. The Hong Kong government, however, maintains that the case has no correlation to press freedom, asserting that the defendants exploited news reporting as a guise while engaging in actions detrimental to both China and Hong Kong.
The court document submitted by the Department of Justice earlier this month outlines a request for an order that would compel Lai to surrender to the government money deposited in 15 bank accounts under his name, as well as funds linked to various companies and shares held by him or on his behalf. Notably, this includes Lai’s shares in Next Digital, the parent company of Apple Daily, and shares in Dico Consultants, a firm implicated in a past fraud case that was subsequently overturned.
The government also seeks to seize additional funds, which include bail money lodged in the court system and a 2 million Hong Kong dollar ($255,440) fine imposed on Lai following the 2022 fraud conviction. This particular fine could potentially be refunded to Lai after his earlier convictions are quashed in February.
On April 2, the government issued a statement confirming its application for the seizure of properties associated with Lai's alleged crimes. In its statement, the government cited the national security law, indicating that funds and tools utilized or intended for offenses should be confiscated, along with any proceeds derived from such offenses.
The government further asserted that any orders aimed at preserving national security would avert convicts, their accomplices, or agents from using their offense-related properties to conduct actions that potentially jeopardize security. A hearing related to this asset forfeiture case is set to take place in July.
Kanis Leung, The Associated Press
