HONG KONG (AP) — Authorities in Hong Kong are moving to take control of more than $16 million in assets belonging to imprisoned former newspaper publisher Jimmy Lai, court documents obtained by The Associated Press revealed Tuesday.
The legal paperwork estimates the value of the targeted property at over 127 million Hong Kong dollars but provides no details about how these assets connect to Lai’s alleged criminal activities. While officials previously announced their intention to pursue asset seizure in this case, they had not revealed the monetary scope until now.
The 76-year-old Lai, who established the shuttered Apple Daily newspaper and was a vocal opponent of China’s Communist leadership, received guilty verdicts in December on charges of conspiring with foreign powers and working with others to publish materials deemed seditious. In February, he was handed a 20-year prison term — the harshest punishment yet delivered under the national security legislation imposed by Beijing.
Those who oppose the conviction argue it demonstrates how press freedoms and civil liberties have deteriorated in the territory, which transitioned from British to Chinese control in 1997. Government representatives maintain the case is unrelated to media freedom, claiming the accused exploited journalism as cover for activities that damaged both China and Hong Kong over many years.
Court filings submitted to Hong Kong’s judicial system this month show the Department of Justice wants Lai to surrender cash held in 15 personal bank accounts, funds in various corporate accounts, plus stock holdings registered to him and other parties.
Among the targeted investments are Lai’s ownership stakes in Next Digital, which operated Apple Daily, and Dico Consultants, a firm connected to an earlier fraud case against Lai that resulted in overturned convictions.
The government’s seizure request also encompasses bail funds deposited with the courts and a 2 million Hong Kong dollar ($255,440) penalty imposed following Lai’s 2022 fraud conviction, money that could have been returned to him after those convictions were reversed in February.
On April 2, officials announced their application to confiscate properties tied to Lai’s crimes in a public statement. The announcement referenced the security law, explaining that assets used or planned for use in criminal activities must be forfeited, along with any profits gained through illegal conduct.
According to the government, asset forfeiture orders designed to protect national security can stop convicted individuals, their associates, or representatives from continuing to use crime-related property for activities that threaten security.
Court proceedings on this matter are set for July.
