So then Jimmy Lai is just using these protests to distract from his other troubles. Resigning because he was arrested at a protest site... the two seem unrelated.
Sorry but you got it all wrong.
Jimmy Lai has been the local anti-government faction's kingpin for at least 2 decades, alas during the colonial days it was specifically targeting Mainland China (with some clandestine backing from London, obviously), so things went way back before this coloured revolution. Those corruption charges were more than about this year's happenings - there has been for several years of rumours that he has been supporting the anti-government faction with more than just providing a mass media platform - his Next Media Group publications - in the likes of cash donation and such, but it was only this year, a few months before the coloured revolution, that substantial evidence (in forms of email communiques, scanned copies of receipts, etc.) were "leaked" to the public, triggered the anti-corruption investigation against him. The scale was shocking, because the politicians involved were pretty much more than half of the entire anti-government lawmakers, went as far as this NeoCon tycoon financing known leftist labour unionists (that was the first time I heard the word "strikebreaker" uttered in HK)...
As for his resign after his arrest at the coloured revolution scene, they are unrelated, because it's just standard procedure for listed corporations to insulate themselves from any possible criminal activities (alleged or otherwise) by its Board members or chairman.