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Executive director Gan Boon Aun convicted for furnishing misleading statement, with intent to deceive, relating to company’s revenue
Updated 3 hours ago · Published on 25 Jan 2022 9:57PM
KUALA LUMPUR – The high court today allowed the Securities Commission’s (SC) appeal and increased the jail sentence of former Transmile chief executive officer and executive director Gan Boon Aun from one day to 24 months.
The high court also upheld the initial fine of RM2.5 million imposed by the sessions court on August 27, 2020, the commission said in a statement here today.
Gan was convicted for furnishing a misleading statement, with intent to deceive, relating to Transmile Group Bhd’s revenue in the company’s Quarterly Report on Unaudited Consolidated Results for the financial year ended December 31, 2006.
The misleading statement on the revenue amount comprised over RM333 million of fictitious sales. Gan’s conviction is under Section 122B read together with Section 122(1) of the Securities Industry Act 1983.
High court judge justice Mohamed Zaini Mazlan observed that from the efforts made by the SC to execute the warrant of arrest against Gan, he has been evading arrest, thus failing to attend the hearing of the appeal.
Gan remains at-large and the SC is requesting members of the public who may know of his whereabouts to come forward to assist the SC in locating Gan, it said. – Bernama, January 25, 2022
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Fresh arrest warrant to be issued against Transmile founder, hearing to proceed on Jan 25
Hafiz Yatim / theedgemarkets.com
December 13, 2021 14:52 pm +08
KUALA LUMPUR (Dec 13): The High Court on Monday (Dec 13) said it will issue another warrant of arrest against Transmile Group Bhd founder Gan Boon Aun, and fixed Jan 25 as the hearing date for the Securities Commission Malaysia’s (SC) cross-appeal — against the one-day jail sentence and RM2.5 million fine imposed on Gan — to be heard with or without his appearance.
The court earlier dismissed Gan’s appeal against his conviction and sentence due to his non-attendance, and a warrant of arrest was issued.
SC Deputy Public Prosecutor (DPP) Shoba Venu Gobal informed Justice Mohamed Zaini Mazlan that they had not been successful to execute the warrant of arrest against Gan and are seeking another two months from the court before enforcing Section 314 of the Criminal Procedure Code (CPC).
Shoba also sought another warrant of arrest against Gan.
Section 314 of the CPC stipulates that:
(1) If, in the hearing of the appeal, the respondent is not present and the Court is not satisfied that the notice of appeal was duly served upon him, then the court shall not make any order in the matter of the appeal adverse to or to the prejudice of the respondent, but shall adjourn the hearing of the appeal to a future day for his appearance, and shall issue the requisite notice to him for service through the registrar.
(2) If the service of the last-mentioned notice cannot be effected on the respondent, the court shall proceed to hear the appeal in his absence.
Justice Zaini asked Shoba who appeared with Munira Masood why the SC needs two months before enforcing Section 314, and she replied that efforts to seek Gan are ongoing.
The judge then asked when was the first warrant of arrest issued, and the SC DPP replied that it was Oct 18 — and it had been almost two months since then.
Following this, the court only allowed one month and fixed Jan 25 for the hearing of the appeal with or without Gan.
On Oct 18, The Edge reported that a warrant of arrest was issued against Gan after he was absent when the case was called up.
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weehingthong 