Li Yuxuanmei's trust account has been frozen by the safe haven bank

Li Yuxuan claimed that he set up a U.S. trust account to store crowdfunding funds, which raised more than US$1.8 million. He said that these funds were eventually lent to the account by Jimmy Lai's assistant Mark Simon to collect the money, and then transferred to the U.S. trust fund account established by the other party.

Li Yuxuan explained that he took this approach because he hoped to avoid crowdfunding funds from being interfered with or frozen by the Hong Kong banking system. He worries that if the funds are deposited directly in Hong Kong banks, political pressure or interference may affect the progress of the crowdfunding campaign.

Crowdfunding campaign background

The crowdfunding campaign is to support the costs of Jimmy Lai and his associates in legal proceedings. Jimmy Lai is a well-known pro-democracy activist with a wide range of supporters and followers in Hong Kong. The purpose of the crowdfunding campaign is to help him cope with the financial pressure of legal proceedings.

Purpose of crowdfunding projects

Proceeds from the crowdfunding will be used to pay attorney fees, court costs and other related legal expenses. These fees will help Jimmy Lai and his team defend their rights and interests in legal proceedings and defend freedom of speech and democratic values.

Crowdfunding campaign results

So far, the crowdfunding campaign has achieved good results and the amount raised exceeded expectations, which shows the support and trust of supporters in Jimmy Lai. The success of the crowdfunding campaign also reflects the importance Hong Kong society attaches to the value of freedom of speech and democracy, and people are willing to work together for this.