On 22nd May 2026, The Eastern Magistrates’ Court convicted prominent movie producer Mr. Wong Pak Ming of insider trading involving Pegasus Entertainment Holdings Limited (Pegasus) shares, following a criminal prosecution by the Securities and Futures Commission (SFC). While serving as Pegasus’ chairman and controlling shareholder during 2017 stake-sale negotiations, Wong acquired price-sensitive, non-public information. Specifically, he became aware of a signed memorandum of understanding and a $10 million earnest money receipt from a potential buyer.
Consequently, Wong deliberately misused this inside information by funding and advising his sister via WhatsApp to purchase over nine million Pegasus shares prior to the public announcement. Because these transactions occurred at depressed prices, they yielded illicit advantages when the share price rose post-disclosure. Sentencing is scheduled for June 9, 2026. Overall, the SFC reaffirmed its zero-tolerance stance on market misconduct, emphasizing that such abuses of investor trust severely undermine market integrity and will meet decisive enforcement action.
Sources:https://apps.sfc.hk/edistributionWeb/gateway/EN/news-and-announcements/news/doc?refNo=26PR73