Personal Assistant to Listed Company’s Chairman Convicted of Insider Dealing


Mr Wong Pak Wai has been sentenced by the Eastern Magistrates’ Court to 240 hours of community service and ordered to pay a fine of $25,000, along with investigation costs, after pleading guilty to insider dealing in the shares of Elec & Eltek International Company Limited (E&E). The SFC brought the prosecution against Wong, who was the personal assistant to the chairman and executive director of Kingboard Holdings Limited (KBH) at the time. Wong purchased 3,000 E&E shares based on inside information about a possible privatisation, making a profit of $19,080. Despite the seriousness of the offence, the court considered Wong’s early admission of liability and the relatively small profit involved, leading to a community service order instead of immediate custodial sentence. The SFC emphasizes its zero tolerance for insider dealing, as it undermines public confidence in the financial system.



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