Billionaire Who "Owed Hong Kong Everything" Faces Life in Prison

A Hong Kong billionaire is facing a potential life sentence after a trial seen as a test of China's legal limits. Jimmy Lai, the 76-year-old founder of the now-defunct Apple Daily newspaper, was convicted of fraud and collusion with foreign powers. The charges stem from his media work and pro-democracy activism. During the trial, Lai stated he always felt he "owed Hong Kong everything," calling the city his home. Prosecutors argued his actions threatened national security. The verdict is one of the most high-profile under Hong Kong's national security law. It signals Beijing's firm stance on dissent in the semi-autonomous region. Sentencing is expected soon. Lai's legal team has indicated they will appeal.