Hong Kong's Court of Appeal has overturned the fraud conviction and sentencing of media tycoon Jimmy Lai, according to court records released Thursday.

Lai, 78, had been convicted on fraud charges in a separate case from his ongoing national security trial. The appellate court's decision reverses both the conviction and the associated sentence that had been imposed by a lower court.

Despite the successful appeal, Lai remains in detention facing charges under Hong Kong's national security law. The media mogul, who founded the now-defunct Apple Daily newspaper, has been held in custody as his national security case proceeds through the courts.

The fraud case that was overturned was distinct from the national security charges that have kept Lai detained. The Court of Appeal's ruling addresses only the fraud conviction and does not affect his detention status related to the national security proceedings.

Lai's legal battles have drawn international attention as part of broader concerns about press freedom and the application of national security legislation in Hong Kong. The successful appeal represents a legal victory in one aspect of his multiple court cases, though his overall legal situation remains unchanged due to the separate national security charges.