Tycoon Jimmy Lai was denied bail in case of fraud because of the escape risk
Jimmy Lai and two Next Digital executives, Royston Chow and Wong Wai-keung, are accused of fraud in dealings with the local government.
Hong Kong media magnate Jimmy Lai Chee-ying was denied bail after being accused of fraud because the judge believes there is a risk that we would escape.
Lai is likely to spend Christmas behind bars after he and two senior Next Digital executives, Royston Chow Tat-kuen and Wong Wai-keung, were accused of harming a state-owned company by violating the land lease terms.
The tycoon was taken to West Kowloon Court last Thursday alongside his comrades to face a joint charge of fraud, a charge of detention that the Hong Kong justice department said was made in order to keep the defendants into custody while prosecutors prepared more serious national security allegations.