Edison Chen owes entertainment group CEO 20 million HKD

1 August 2013 / 3 years 2 months ago

After Edison chen's shocking sex scandal in 2008, several companies withdrew their advertising contracts with him and demanded that he compensate them.

Blacklisted and with no income, Edison was unable to fork out the huge amounts of money. Fortunately, media mogul Peter Lam paid for Edison’s long-term rental at the Four Seasons Hotel and compensated the six advertising companies, reports Next Magazine #1220 via ihktv.com.

Peter also continued to finance Edison’s multimedia production company, Clot Media Division (CMD).

In November 2011, Edison was the subject of another scandal, this time with 16-year-old model Cammi Tse.

Furious with this lifestyle, Peter decided to stop backing Edison and demanded he repay all the money owed, amounting to more than 20 million HKD ($3,267,331).

Despite his lack of income from movies, television shows, and attending large-scale events, Edison is still able to earn a decent living through endorsement deals and holding mini concerts in bars in China.

With his celebrity status, Edison can easily hold up to seven concerts in a month. His concerts are reportedly packed, and his clothing company Juice is making good profits.

Edison also moved to an apartment in South Bay where the rental can be as high as $100,000 HKD a month. Edison is still able to live rather luxuriously, but he does not seem to be taking any steps towards repaying Peter.

The insider continued, “For the first year or so, Edison completely had no income. At that time he did not report the numbers to the main company. Everyone understood. But these couple of years, he has many more jobs. His income every month is not too bad but he continued to delay. The boss (Peter Lam) had a good impression of him but the company has other shareholders, plus the senior executives have their own opinions and suggested the boss not to give in to him anymore. As a result, the boss has left everything to the administration department to handle.”

Read the full report in Next Magazine #1220 via ihktv.com

Join in the talk