Hong Kong tycoon Jimmy Lai sentenced to more than 5 years in prison for fraud charges

Hong Kong billionaire and media mogul Jimmy Lai who is known for his pro-democracy stance has been sentenced to imprisonment for more than 6 years. On Saturday, the Hong Kong media mogul was found guilty by the Hong Kong Court of subletting an office space illegally. On Saturday, the BBC reported that the media mogul will now face a 5 years 9 months prison sentence and was fined 2 million Hong Kong dollars ($256,734.56). 

According to BBC, the judge showed “no remorse” to the 75-year-old Billionaire after he pled guilty to the fraud. The billionaire is known for his numerous business ventures. He is the founder of an Asian clothing retailer called Giodano, a Media Company Next Digital, and a popular newspaper in Hong Kong, Apple Daily in Hong Kong. Lai is known for his pro-democracy stance and supported numerous events of activism held in Taiwan. China’s Draconian national security law that engulfs the city of Hong Kong can be considered as part of the reason why Jimmy Lai had a run-in with police and legal authorities numerous times.

Hong Kong media mogul was sentenced to jail for 13 months over Tinemen square Virgil

The recent verdict against the Hong Kong billionaire was not the first time he had a run-in with Hong Kong legal authorities. In December 2021, Lai was sentenced to 13 months in jail for participating in a vigil marking the 1989 Tiananmen Square massacre that took place in Beijing. The court charged him with inciting others to take part in the vigil.  

According to BBC, more than dozens of prominent personalities and politicians were sentenced to jail for participating in the banned vigil. Lai was sentenced along with popular journalist turned politician Gwyneth Ho. While this sentence looms over the media mogul, Lai is involved in a separate court trial. He was about to go on trial over national security charges on December 1, however, the trials were postponed at the request of Hong Kong leader John Lee Ka-Chiu.