Hong Kong has applied to seize more than HK$127 million in assets linked to jailed media tycoon Jimmy Lai. The forfeiture filing targets cash in 15 bank accounts, corporate shares (including holdings in Next Digital and Dico Consultants), court-held bail funds and a HK$2 million fine related to a quashed fraud conviction. Lai was convicted under the national security law and sentenced to 20 years; a hearing on the government's forfeiture application is set for July.
Hong Kong Moves To Forfeit Over HK$127 Million From Jailed Media Tycoon Jimmy Lai
FILE- Jimmy Lai walks through the Stanley prison in Hong Kong, on July 28, 2023. (AP Photo/Louise Delmotte, File)(ASSOCIATED PRESS)
The Hong Kong government has filed a court application seeking to seize more than HK$127 million (about $16 million) in cash, corporate shares and court-held bail funds it says are linked to crimes committed by jailed former media proprietor Jimmy Lai, according to a court document seen by The Associated Press.
What the Filing Says
The Department of Justice asked the court to order forfeiture of money held in 15 bank accounts registered in Lai's name, funds held in accounts owned by several companies, and shares in various firms held by Lai or third parties. The list explicitly includes Lai's holdings in Next Digital, the parent company of the now-defunct Apple Daily, and stakes in Dico Consultants — a firm tied to a prior fraud case involving Lai whose conviction was later overturned.
Legal Basis And Government Rationale
Authorities cite the national security law as the basis for the forfeiture, saying assets "used, intended for use, or obtained" in committing an offence may be confiscated. The government argues a forfeiture order is necessary to prevent convicted persons, accomplices or agents from continuing to use offence-related property to carry out activities that endanger national security.
Case Background
Lai, an outspoken critic of China’s ruling Communist Party and founder of Apple Daily, was convicted in December of conspiracy to collude with foreign forces and conspiring with others to publish seditious articles. In February he was sentenced to 20 years in prison — the harshest punishment imposed so far under the Beijing-imposed national security law. Critics say the prosecution and penalties reflect a sharp decline in press freedoms in Hong Kong; the government maintains the prosecutions are unrelated to press freedom, saying defendants masked long-running unlawful activity as news reporting.
Other Assets Included
The government's application also seeks to seize bail money lodged with the courts and a HK$2 million fine (about $255,440) imposed after a 2022 fraud conviction that was later quashed; that fine would otherwise have been refundable after the overturning of the conviction.
Next Steps
A hearing on the forfeiture application is scheduled for July. The court will consider the government's evidence linking the listed assets to Lai's alleged offences and decide whether to grant the requested confiscation order.
Note: The filing summarizes the assets and their estimated value but does not detail in court papers how each asset is connected to the alleged criminal conduct.
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