HK movie producer Raymond Wong Pak-ming convicted of insider dealing

The Eastern Magistrates' Court on Friday convicted well-known movie producer Raymond Wong Pak-ming of insider dealing in Pegasus Entertainment shares in a criminal prosecution brought by the Securities and Futures Commission.

Wong had previously sent WhatsApp messages advising his sister to buy Pegasus' shares. The defense argued this was merely a unique communication style between the two sides and that Wong meant the exact opposite.

The magistrate dismissed the claim, deeming it "both absurd and far-fetched."

Wong is charged with deliberate misuse of inside information acquired through his role as chairman and controlling shareholder of Pegasus and his decision to advise his sister to trade the company’s shares well before the inside information was disclosed to the market.

𝗗𝗼𝘄𝗻𝗹𝗼𝗮𝗱 𝗧𝗵𝗲 𝗦𝘁𝗮𝗻𝗱𝗮𝗿𝗱 𝗔𝗽𝗽 ↓