The Eastern Magistrates’ Court today convicted movie producer Mr Wong Pak Ming of insider dealing in the shares of Pegasus Entertainment Holdings Limited in a criminal prosecution brought by the Securities and Futures Commission (SFC).

The conviction, after a 16-day criminal trial, arises from Wong’s deliberate misuse of inside information acquired through his role as chairman and controlling shareholder of Pegasus and his decision to advise his sister to trade the company’s shares well before the inside information was disclosed to the market.

The Court adjourned the case to 9 June 2026 for sentencing.

The Court heard that while negotiations were underway in 2017 for Wong to sell his controlling stake in Pegasus, he became aware of price-sensitive and non-public information, including the signing of a memorandum of understanding and the receipt of $10 million as earnest money from a potential buyer.

Upon receiving the earnest money on 25 August 2017, Wong immediately started to transfer $2 million in total to his sister who started buying Pegasus shares on the same day. From 30 August 2017 onwards, Wong sent multiple WhatsApp messages to his sister, advising her on the timing and the price to buy Pegasus shares.

Consequently, between 25 August 2017 and 17 October 2017, Wong’s sister bought over nine million Pegasus shares at prices well below Pegasus’ ensuing market share price after the deal was announced on 25 October 2017.

His sister paid for the vast majority of Pegasus shares she bought with the monies he had transferred to her.

In arriving at the verdict, the Court found that Wong advised another person namely, his sister, to deal in Pegasus shares while he was the chairman and controlling shareholder of Pegasus and in possession of information which he knew was inside information in relation to Pegasus.