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Fiona Chow

A Hong Kong court has extended veteran movie producer and actor Raymond Wong Pak-ming’s bail and granted him more time to negotiate with the city’s securities watchdog over the handling of an alleged insider trading offence.
Wong, who appeared at Eastern Court on Friday for the hearing, is being prosecuted by the Securities and Futures Commission for alleged insider trading involving shares in Transmit Entertainment, a TV series production firm formerly known as Pegasus Entertainment Holdings.
The watchdog alleges that the defendant, Pegasus Entertainment’s chairman and controlling shareholder at the time, counselled or procured another person to deal in the company’s shares between August 25 and October 17, 2017.
Wong’s legal representative told Principal Magistrate Don So Man-lung that the defence had entered into negotiations with the watchdog about how the case should be handled.
The lawyer asked the court for an adjournment until June 5.
Prosecutors said they had no objection to the adjournment, but added that Wong should enter his plea at the next hearing.
Magistrate So granted the defendant bail under the conditions, with Wong also required to pay a cash bail of HK$200,000 (US$25,800) and report any travel plans to authorities.

Wong started Pegasus Entertainment with his son Edmond Wong Chi-woon in 2009. The company was renamed Transmit Entertainment in March 2018 after the movie producer sold his controlling stake.
Raymond Wong has been a prominent figure in the local movie industry over the decades, working as a director, screenwriter and producer. He is also best known for his comedy acting roles, performing in a string of past Lunar New Year box office hits.


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News

Hong Kong

Law and Crime

Wong is being prosecuted by the city’s securities watchdog for alleged insider trading involving shares in Transmit Entertainment


Wong is being prosecuted by the city’s securities watchdog for alleged insider trading involving shares in Transmit Entertainment.


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Crime in Hong Kong