STOCKS | Former Pegasus Entertainment Chairman Raymond Wong Begins Jail Term After Bail Revoked

Former Pegasus Entertainment chairman Raymond Wong, also known as Barry Wong, began serving his sentence immediately after his bail was revoked at a hearing at West Kowloon Magistrates’ Courts on June 17, according to Ming Pao, after his sister was convicted of insider dealing over a 2017 share purchase in Tianma Film and Television, now known as Pegasus Entertainment. Ming Pao reported that Wong’s sister made more than $1.03 million in profit and was earlier sentenced to five months in prison, fined $99,720, and ordered to pay about $374,300 in investigation costs to the SEC.