Hong Kong producer Raymond Wong to plead not guilty to insider trading
79-year-old allegedly advised another person to deal in shares of a company he was the chairman and controlling shareholder of in 2017
Film producer and actor Raymond Wong Pak-ming plans to plead not guilty to insider trading charges brought by Hong Kong’s securities watchdog, according to his legal representative.
Wong, 79, is being prosecuted by the Securities and Futures Commission for alleged insider trading concerning shares in Transmit Entertainment, a television series production company previously known as Pegasus Entertainment Holdings.
The watchdog alleges that the defendant, who was 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 informed Acting Principal Magistrate David Cheung Chi-wai at the Eastern Court that the defendant planned to enter a not guilty plea.
The case has been adjourned until August 25 for further proceedings. The delay is to allow the defence to confirm whether they will contest the chain of custody for the WhatsApp records in question, the defendant’s video conferencing, and the identity of the expert witness, as noted by Magistrate Cheung.
Cheung said that the court aimed to commence the trial on November 24, with an estimated duration of 15 days.