KUALA LUMPUR: A director pleaded not guilty in the Sessions Court here today to a charge of transferring RM859,750 of company’s funds to another company two years ago.
Chin Wai Lan, 50, who is a director of Infinity Trustee Berhad, was accused of transferring the funds from her company’s Alliance Bank Berhad current account to Pixelvest Sdn Bhd’s current account at CIMB Bank Berhad.
This action was allegedly taken to facilitate Pixelvest Sdn Bhd’s illicit involvement in regulated fund management activities, despite the company not possessing a Capital Markets Services Licence. The offence was purportedly committed at Alliance Bank Malaysia Berhad, Petaling Jaya, on Oct 11, 2022.
She was charged under Section 58(1) of the Capital Markets and Services Act 2007, which is punishable by a fine of up to RM10 million, or imprisonment of up to 10 years, or both, upon conviction.
Judge Azrul Darus granted the application by Chin’s lawyer Datuk Tan Hock Chuan, to maintain the previously set bail of RM10,000 with additional conditions of surrendering her passport to the court and reporting to the nearest police station once a month.
The court then set July 10 for the case mention.
Securities Commission (SC) deputy public prosecutor, Muhammad Izzat Fauzan appeared for the prosecution.
In another Sessions Court, Ang Jen Chuen, 31, representing Pixelvest Sdn Bhd, pleaded not guilty to a charge of engaging in regulated fund management activities despite not possesing a Capital Markets Services License.
The offence was allegedly committed at Emporis SOHO, Kota Damansara, between Dec 15, 2020, and Aug 31, 2022, under Section 58(1) of the Capital Markets and Services Act 2007.
Judge Norina Zainol Abidin scheduled June 6 for the case mention.
Muhammad Izzat appeared for the prosecution, while the company was represented by lawyer Fakrul Redha Paridul Adras.
