Hong Kong media have recently reported that producer Raymond Wong was granted a sentence reduction for his recent insider trading case.
The “All’s Well, Ends Well” star, who was originally sentenced to five months of prison back in June, was said to have been released before the Mid-Autumn Festival, in time to celebrate the holiday with his family.
Although Raymond has not posted any updates on social media since his release from prison, several news outlets reported that he was spotted having lunch with friends at the renowned South Sea No. 2 restaurant in Causeway Bay, Hong Kong, on 29 September.
It is noted that under the Hong Kong law, prisoners who have been sentenced to more than a month in prison has a chance to get up to one-third of their sentence reduced for good behaviour, and apparently, that was the reason for Raymond’s early release.
The producer was previously convicted of sharing insider information with his sister to trade the shares of his company, Pegasus Entertainment. He was believed to have pocketed more than HKD 1 million from it.
Aside from jail time, Raymond was also ordered to pay HKD 374,305 as costs for the Securities and Futures Commission’s investigation.
(Photo Source: MP Weekly, ST Headline)