The High Court Wednesday, allowed the Securities Commission’s (SC) appeal and increased the jail sentence of former Transmile chief executive officer and executive director Gan Boon Aun (pic) from one day to 24 months
KUALA LUMPUR: The Securities Commission (SC) is seeking information from members of the public to locate Gan Boon Aun, the former chief executive officer and executive director of Transmile.
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WHEN Transmile Group Bhd founder and former CEO Gan Boon Aun was found guilty in August of deceiving with intent and furnishing misleading financial statements to Bursa Malaysia, prosecutors expected the court to hand him a custodial sentence of 18 to 24 months and a fine of RM2 million to deter potential offenders.
But Sessions Court Judge Tuan Hasbullah Adam fined Gan RM2.5 million (in default 18 months’ imprisonment), and sentenced him to one day behind bars.
Under Section 122B(a)(bb) of the Securities Industry Act 1983 (Act 280) the section under which Gan, 59, was charged a convicted offender is liable to a fine of at least RM1 million or imprisonment for a term of up to 10 years, or both.