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Hong Kong court hears tycoon Jimmy Lai transferred tax haven company to middleman who linked him up with global lobbying group
- Court told by ex-Lai executive that control of British Virgin Islands-based firm was given to Wayland Chan, a former member of an anti-government campaign group
- Lacock Inc. was wholly owned by Lai until its control was transferred to Chan in 2020 as reward for help
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Hong Kong media tycoon Jimmy Lai Chee-ying agreed to hand over ownership of one of his private companies to a middleman for a global lobbying group as a reward for “help” given in 2019, the height of civil unrest in the city, a court has been told.
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Royston Chow Tat-kuen, a former executive in Lai’s Next Digital group, appeared at West Kowloon Court on Tuesday as the sixth prosecution witness to testify in the Apple Daily founder’s marathon trial under the Beijing-imposed national security law.
He was asked to explain a plan in September 2019 to give ownership of Lacock Inc. to Wayland Chan Tsz-wah, a paralegal and former member of the “Fight for Freedom. Stand with Hong Kong.” (SWHK) campaign group.
The court heard the dormant company, based in the British Virgin Islands, a UK Overseas Territory and tax haven, was wholly owned by Lai.
The tycoon, his right-hand man Mark Simon and Chow were the authorised signatories for its bank account before Chan took control in January 2020.
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