Hong Kong Government Applies for Confiscation of Jimmy Lai's Assets Totaling Over HKD 127 Million

The Hong Kong government earlier this month applied to the court for the confiscation of assets belonging to Jimmy Lai, founder of Next Digital Group, in connection with national security offenses. Court documents show that the government is seeking to seize assets including shares in 17 of Lai's companies and deposits in multiple bank accounts, with the total amount currently known exceeding HKD 127 million (approx. TWD 510 million). According to reports from Sing Tao Daily, the Secretary for Justice filed the application to confiscate assets held directly or indirectly by Lai. This includes HKD 32.3 million in 15 personal accounts at HSBC, Hang Seng, and Shanghai Commercial Bank; HKD 12.11 million in 47 corporate and crime-related accounts; shares in 17 companies including Next Digital Limited; and HKD 10 million in bail money. The writ also lists shares in two companies valued at HKD 71.39 million. High Court hearing is set for July 8 to facilitate the 'prevention and suppression of acts endangering national security.'