STOCKS | Former Pegasus Motion Pictures Chairman Raymond Wong Convicted of Insider Dealing

Former Pegasus Motion Pictures chairman and businessman Raymond Wong (also known as Wong Pak-ming) was convicted of insider dealing involving Pegasus Motion Pictures, now known as Transmit Entertainment, after he induced his sister to buy the company’s shares in 2017. According to Ming Pao, a magistrate at West Kowloon Magistrates’ Courts sentenced Wong to five months in prison, fined him HK$99,720, and ordered him to pay HK$374,000 in SFC investigation costs. Wong attended court with two of his children and said he intends to apply for an appeal.