Criminal case against Raymond Wong Pak-ming kicks off

Hong Kong's securities watchdog has commenced criminal proceedings against businessman Raymond Wong Pak-ming for insider dealing involving the shares of an entertainment company.

Wong is suspected to have counseled or procured another person to deal in the shares of Transmit Entertainment, formerly known as Pegasus Entertainment, between August 25, 2017 and October 17, 2017, according to the Securities and Futures Commission.

During this period, Wong was chairman and the controlling shareholder of Pegasus, and had information which he knew was inside information in relation to the company.

No plea was taken and the court adjourned the case to March 27.

He was granted bail on HK$200,000 cash and other conditions related to his residency.

Wong, born in 1948, is also a noted comedic actor and film producer who appeared in around 60 motion pictures.

STAFF REPORTER