Hong Kong: A Hong Kong court has sentenced media moghul Jimmy Lai to five years and nine months in prison for fraud, media reports said on Saturday.

Lai was found to have breached the terms of lease for the headquarters of his now defunct Apple Daily newspaper after concealing the operation of a consultancy that provided corporate secretarial services to private firms Lai controlled, reports CNN.

Lai has also been fined  2 million Hong Kong dollars ($257,000).

He has been disqualified as a company director for eight years.

Wong Wai Keung, the director of administration of Apple Daily’s parent company Next Digital and a co-defendant, was sentenced to 21 months in jail, the American news channel reported.

The same court had convicted the duo in October.

Both had pleaded not guilty.