PETALING JAYA: The Securities Commission (SC) has filed a civil suit against five individuals who allegedly perpetrated a scheme to defraud and/or causing wrongful losses totalling RM120.6mil from four public listed companies.
The capital market regulator named Tey Por Yee, Lim Chye Guan, See Poh Yee, Francis Tan Hock Leong and Faizatul Ikmi Abdul Razak for the alleged crime involving Nexgram Holdings Bhd, R&A Telecommunication Group Bhd, Asdion Bhd and Ire-Tex Corp Bhd.
The Kuala Lumpur High Court had initially fixed yesterday for the defendants to respond to suit filed on Nov 29.
However, following the non-appearance of the defendants, the High Court granted an ad interim injunction and fixed Jan 9, 2023 for their response.
In a statement yesterday, the SC alleged that Tey, Lim, See and Tan, in their various capacities as directors and officers of the four public listed companies, siphoned out the proceeds of the companies’ fundraising exercises, while Faizatul Ikmi assisted the siphoning.
The conduct allegedly took place between December 2013 and July 2014.
On Dec 1, the SC had obtained an injunction from the High Court to restrain Tey, Lim, See and Faizatul Ikmi from dealing with the monies in their respective bank accounts, to prevent dissipation of the assets of the defendants.“The SC did not seek an injunction against Tan as he is an undischarged bankrupt,” the statement added.