2 Companies Ex Director Charged Over Unlicensed Capital Market Activities

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The Securities Commission said it views the seriousness of unlicensed activities and is committed to investor protection through enforcement action.PETALING JAYA: The Securities Commission (SC) has charged two companies and one individual in the Kuala Lumpur sessions court with three offences related to unlicensed capital market activities.
The companies charged are Pixelvest Sdn Bhd and Infinity Trustee Berhad (ITB).
In a statement, the commission said Pixelvest was charged today with one count for conducting a fund management business without a licence, with its director, Ang Jen Chuen, claiming trial.
This follows two charges under Section 58(1), read together with Section 370(b) of the Capital Markets and Services Act 2007, against ITB last Tuesday.
“The offence is in relation to ITB transferring funds amounting to RM116,292,904.15 to Pixelvest through two accounts in furtherance of the offence committed by Pixelvest,” it said.
“ITB company representative, Tan Boon Hoong, had claimed trial to both charges before sessions court judge Fadzlin Suraya Suah.”
The SC also said former ITB director Sophia Chin was charged today under Section 58(1), read together with Sections 370(b) and 367(1), for transferring RM859,750 from ITB’s account to Pixelvest. Chin also claimed trial.
The offences were alleged to have occurred in Petaling Jaya between December 2020 and October 2022.
“The judge imposed no bail sum given Chin’s existing bail conditions in her other ongoing case before the court,” it said, referring to the case where she was charged in January with 17 counts of money laundering involving RM164.5 million.
The SC said it views the seriousness of unlicensed activities and remains committed to investor protection through continuous enforcement action.
Investors are advised to exercise caution and may use the SC Investment Checker portal on the SC’s website to verify authorised entities offering capital market products and services in Malaysia. - FMT

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