The media tycoon has long been accused of colluding with foreign powers and is believed to be one of those fuelling social unrest in Hong Kong for the past months. Some gatherings and protests defied police disapproval.

In November, Lai met four leading United States Republicans and enlisted their support for the anti-government movement in Hong Kong, according to local media reports.

Anyone who breaks the law in Hong Kong will be brought to justice in accordance to the rule of law, former chief executive Leung Chun-ying said in a post on his social media account after the arrests.

Political power should not be allowed to stand above the law, no matter what powerful connections the criminal suspects have or whether they are supported by foreign powers, Leung noted.