Hong Kong freezes listed shares of media tycoon Lai under security law

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HONG KONG - Hong Kong authorities on Friday froze assets belonging to jailed media tycoon Jimmy Lai, including all shares in his company, Next Digital - the first time a listed firm has been targeted by national security laws in the financial hub.

Also among assets targeted were the local bank accounts of three companies owned by him, Hong Kong's Secretary for Security John Lee said in a government statement.

He faces three alleged charges under a sweeping new national security law imposed by Beijing, including collusion with a foreign country. There have been signs of capital flight since the law was imposed last June, to foreign countries including Canada, according to government agencies, bankers and lawyers.Beijing said it imposed the law on the former British colony to restore order after months of pro-democracy, anti-China protests in 2019.

The firm's employees pledged to continue to "uphold their duty and keep reporting", in a statement posted on the Facebook page of Next Digital's trade union.

 

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