Hong Kong authorities move to confiscate over HK$127 million from Jimmy Lai, citing national security laws after his conviction for foreign collusion
HONG KONG: The government is attempting to seize more than HK$127 million (USD 16.22 million) from jailed media tycoon Jimmy Lai. The move follows the city’s biggest national security case, according to a court document.
The High Court writ details bank accounts, several small factory properties and private company shareholdings linked to Lai. He built his fortune in the garment trade before moving into media.
The seizure case is due to be heard on July 8. A spokesperson for Lai’s lawyers said they had no comment for now.
Lai was sentenced to 20 years in jail in February on two counts of conspiracy to collude with foreign forces. He was also convicted on one count of publishing seditious materials.
The veteran pro-democracy advocate was the city’s most vocal China critic. His case sparked global concerns over the national security clampdown in Hong Kong.
Pro-Beijing media and officials have repeatedly described Lai as a pro-American traitor. They called him the mastermind of the pro-democracy protests that rocked the city for months in 2019.
The single biggest item listed involves Lai’s shareholdings in two privately-held companies, Comitex Holdings and Dico Consultants. The document values these at more than HK$71.3 million (USD 9.10 million) given the firms’ property and bank holdings.
The government is also seeking to seize HK$12 million (USD 1.53 million) in bail funds provided by Lai. The rest involves a range of deposits in more than 50 bank accounts linked to him and privately held companies.
The seizure order is made under the implementing rules of a national security law imposed by Beijing in 2020. Lawyers say the rules grant the government extensive powers to freeze and then seize assets linked to national security cases.
Hong Kong and Chinese officials have said the law was needed to ensure stability after the sometimes-violent protests. Some foreign governments and international rights groups criticised its impact on the former British colony.
