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The appeals court rightly overturned Jimmy Lai's fraud conviction after finding that the prosecution failed to prove the offense and that the trial judge ignored key intent factors. Using just 0.16% of office space for a consultancy hardly constitutes criminal fraud, and the legal system has finally corrected this overreach.
Lai exploited public resources for over 20 years by using leased office space for personal business in clear violation of lease conditions. The appeals court acknowledged that this breach had occurred since 1999, and regardless of technicalities about criminal thresholds, Lai must still face 20 years for endangering national security.