KUALA LUMPUR, Feb 21 — The High Court here yesterday dismissed the appeals filed by two individuals against their one-year jail sentence and RM1 million fine each imposed by the...
No more walk‑ins: Malaysia to roll out MyVISA 2.0 in Japan on March 1, ending face‑to‑face visa applicationsThe Kuala Lumpur High Court upheld the Sessions Court’s 2022 decision sentencing two Jalatama officers to jail and RM1 million fines each.
— Picture by Shafwan Zaidonand enjoy FREE RM10 & when you sign up using code VERSAMM10 with min. cash of RM100 today! T&Cs apply.KUALA LUMPUR, Feb 21 — The High Court here yesterday dismissed the appeals filed by two individuals against their one-year jail sentence and RM1 million fine each imposed by the Sessions Court in 2022 for offences relating to carrying on unlicensed regulated capital market activities. Justice Datuk Mohd Arief Emran Arifin, in dismissing the appeals by Su Eng Kooi and Yap Choong Seong, held that there were no errors of law or fact by the lower court and that the convictions were safe. The court further agreed that the sentences imposed on the duo were not manifestly excessive to warrant appellate interference. However, the court granted a stay of execution of the sentences pending the appellants’ final appeal to the Court of Appeal. The two were first charged at the Sessions Court on July 5, 2017, with two charges each under Section 58 of the Capital Markets and Services Act 2007 , read together with Section 367 of the same Act. The charges were related to the conduct of Jalatama Management Sdn Bhd in carrying on a business of trading in futures contracts and dealing in derivatives without a Capital Markets Services Licence. The appellants, who were officers of Jalatama at the material time, were deemed to have committed the offences between July 2011 and September 2013. Following a full trial, both were found guilty and convicted by the Sessions Court on December 12, 2022. They were each sentenced to one year’s imprisonment and fined RM1 million, with a further one-year jail term in default of payment. In a statement issued by the Securities Commission Malaysia, it viewed the judgment positively and added that dealing in derivatives is a regulated activity and any person carrying on a business in regulated activities requires a licence from the SC under the Capital Markets and Services Act 2007. SC Deputy Public Prosecutor Annarina Chacko Jacob and prosecuting officers Mohd Shafiq Azman, Mark Rohan Mahadevan and Danial Imran Nasaruddin represented the Commission. — Bernama
Su Eng Kooi Yap Choong Seong Capital Markets And Services Act Jalatama Management Sdn Bhd Securities Commission Malaysia
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