National security law: Jimmy Lai’s Hong Kong bankers warned that handling assets could land them in jail
- Security minister John Lee says he is only following the law by informing banks about risks of dealing with the frozen assets
- Lai, the controlling shareholder of Next Digital that publishes Apple Daily, is being investigated under the national security law
“I am exercising the power because Lai has been charged with two offences of collusion with other countries or external forces to endanger national security,” he said. “It is my duty to specify in my notice to the relevant parties what will be the consequences if they fail to comply with my direction.”
The Security Bureau froze nearly HK$500 million (US$64 million) of Lai’s assets earlier this month, including his 71 per cent stake in Next Digital, which publishes the Apple Daily tabloid, as well as the local bank accounts of three other companies he owns.
The move marked the first time authorities had invoked new powers to freeze or take control of assets of a listed company that could be related to the commission of a national security crime.
