KUALA LUMPUR, May 10 — A director pleaded not guilty in the Sessions Court today to a charge of transferring RM859,750 of company funds to another company two years ago.
Chin Wai Lan, 50, 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 committed at Alliance Bank Malaysia Berhad, Petaling Jaya, on October 11, 2022.
She was charged under Section 58(1) of the Capital Markets and Services Act 2007, which is punishable by up to RM10 million in fines, up to 10 years imprisonment, or both upon conviction.
Judge Azrul Darus granted the application by the accused’s lawyer Datuk Tan Hock Chuan to maintain the previously set RM10,000 bail 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 engaging in regulated fund management activities despite not possessing a Capital Markets Services License.
The offence was allegedly committed at Emporis SOHO, Kota Damansara, between December 15, 2020, and August 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.
Izzat appeared for the prosecution, while the company was represented by lawyer Fakrul Redha Paridul Adras.
— Bernama
