Hong Kong Film Industry Icon Raymond Wong Withdraws Bail, Begins Immediate Imprisonment

(Central News Agency reporter Chang Chien, Hong Kong, 17th) Raymond Wong, a renowned figure in Hong Kong's film industry, has been sentenced to five months in prison and fined for involvement in insider trading. Although initially granted bail pending appeal, Wong withdrew his bail today and began serving his sentence immediately.

According to local media reports, the West Kowloon Magistrates' Court handled Wong's appeal case this morning. His defense team applied in court to withdraw the bail, which the judge approved, resulting in Wong's immediate incarceration.

The 79-year-old Raymond Wong (real name Wong Pak-ming) is chairman and controlling shareholder of Skyhorse影视 Culture Holdings Limited. He was found guilty of inciting or causing another person to trade shares in Skyhorse影视 between August and October 2017.

On the 9th of this month, the court sentenced Wong to five months in prison, imposed a fine of HKD 99,000 (approximately NT$398,267), and ordered him to pay HKD 374,000 to the Securities and Futures Commission (SFC) for investigation costs.