FORMER DIRECTOR CHARGED WITH 41 COUNTS OF TRANSFERRING RM16.35 MLN

KUALA LUMPUR, Oct 8 (Bernama) -- A former director of a manufacturing company was charged in three Sessions Courts today with 41 counts involving the transfer of RM16.35 million, which allegedly caused losses to the company.

Choong Lee Aun, 59, pleaded not guilty after 15 charges were read to him before Judge Suhaila Haron, 14 before Judge Azrol Darus and 12 before Judge Norma Ismail.

According to the charges, Choong, as a director of a listed corporation, AT Systematization Berhad (now known as Erdasan Group Berhad), had allegedly caused the company to transfer RM16.35 million to Delta Million Dynamic Sdn Bhd and Midas Mode Sdn Bhd with the intention of causing wrongful loss to AT Systematization.

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The offences were allegedly committed at a bank in Kota Damansara between June 20, 2020 and Nov 30, 2021.

The charges were brought under subsection 317A(1) of the Capital Markets and Services Act 2007 [Act 671] and are punishable under subsection 317A(3) of the same Act, which provides for imprisonment of not less than two years and up to 10 years, and a fine of up to RM10 million, upon conviction.

Deputy public prosecutor from the Securities Commission (SC) Shoba Venu Gobal, assisted by DPPs Hashley Tajudin and Izuddin Mohamad as well as prosecuting officer Puteri Maryam Sofia Megat Joha, proposed bail of RM3 million in six local sureties for all charges, citing the seriousness of the case and the large sum involved.

“The prosecution is also seeking additional conditions, namely that the accused surrender his passport to the court until the conclusion of the case and report physically to the SC office every month,” she said.

Choong’s counsel Nicholas Cheoh sought to have the sum reduced, saying his client has to support his wife and two children who are still studying at university, in addition to health problems and having undergone three angioplasty procedures.

“My client is a professional in the technology field and had intended to retire before joining the company. He also returned voluntarily from Thailand to Malaysia before being detained by the SC,” he said.

The court set bail at RM420,000 in six local sureties, ordered the accused to surrender his passport, report to the SC office in Kuala Lumpur once a month, and set Nov 7 for mention of the case.

-- BERNAMA