HK tycoon Lai seen as flight risk, denied bail

Hong Kong media tycoon Jimmy Lai Chee-ying was denied bail on Thursday after being charged with fraud, as a local magistrate believed he posed a flight risk and could re-offend.

Lai was remanded into custody and is expected to stay behind bars until the case is heard again on April 16.

The founder of local media company Next Digital was arrested along with two senior executives of the company－Chow Tatkuen and Wong Wai-keung－on Wednesday. Facing a joint count of fraud, the three were also arrested on suspicion of violating the National Security Law.

The prosecution said the police were investigating the alleged national security offenses, and there is still a chance they could be charged later.

Chief Magistrate of the West Kowloon Magistrates' Courts Victor So Wai-tak, one of the city's six magistrates designated to handle national security cases, rejected Lai's bail application, citing flight risk concerns and the risk of repeating the offense.

Warning about Lai's risk of absconding, the prosecution noted that Lai has few local ties but maintains close connections with other countries and has businesses in Taiwan, which hasn't signed an agreement on mutual legal assistance with the Hong Kong Special Administrative Region.

The prosecution cited travel records showing that since July 2017, Lai has left the city 87 times and spent about one-third of his time in the past two-and-a-half years away from Hong Kong.

Chow and Wong were granted bail at HK$100,000 ($12,900) and HK$200,000, respectively. They were ordered not to leave the city and to report to police regularly before the next hearing.

The three were among 10 arrested in August on suspicion of colluding with foreign or external forces to endanger national security, as well as conspiracy to commit fraud and sedition. The three had been granted bail and were apprehended again on Wednesday when they reported to the police.

According to Hong Kong laws, fraud can lead to 14 years in jail, and national security offenses carry a maximum sentence of life imprisonment.

Lai is also involved in four other cases for his role in unlawful rallies during last year's social unrest. He was accused of participating in and organizing unauthorized assemblies and inciting others to take part in such activities. These charges carry penalties of up to five years in prison.