By Mark L. Clifford and L. Gordon Crovitz

The most recent present trial of Hong Kong’s most well-known political prisoner will conclude this week. All that’s left is the responsible verdict.

Jimmy Lai, founding father of the pro-democracy newspaper Apple Day by day, stands accused of fraud. His alleged crime? Subleasing a small nook—effectively lower than 1%—of the headquarters of his media firm, Subsequent Digital, to a Lai household firm. Mr. Lai paid market lease to the publicly traded Subsequent Digital, which disclosed the association to shareholders.