EX-CHAIRMAN GETS 18 MONTHS’ JAIL
Furnished false info relating to Megan Media’s revenue to Bursa Malaysia
SECURITIES Commission Malaysia (SC) yesterday won a case against former executive chairman of Megan Media Holdings Bhd for submission of false information. The Sessions Court here sentenced Datuk Dr Mohd Adam Che Harun, 73, to 18 months’ jail and a RM300,000 fine in default of one year’s imprisonment, for furnishing false information to Bursa Malaysia related to the revenue of Megan Media in its quarterly results for the financial period that ended on Jan 31.
SC, in a statement, said the false information related to Megan Media’s revenue amounting to approximately RM306 million.
“In sentencing the accused, Sessions Court judge Tuan Zulqarnain Hassan viewed the offence as serious and held that the accused should refrain from providing such false information to Bursa Malaysia. The judge also held that it is important for investors to have confidence in the capital market.”
The offence, under Section 122B, read together with 122(1) of the Securities Industry Act 1983, carries a penalty of not more than RM3 million or jail not exceeding 10 years, or both.