Daniel Wong charged with abetting former MD of Multi-Code for securities fraud

KUALA LUMPUR: The Securities Commission (SC) has charged Daniel Wong Jit Kiang in the Kuala Lumpur Sessions Court with abetting the late Toh Chun Toh Gordon in defrauding Multi-Code Electronics Industries (M) Bhd amounting to RM17.6mil in 2007.

In a statement, SC said Wong had been at-large for 15 years despite numerous efforts made to locate him and two separate warrants of arrest issued against him in 2009 and 2019.

He was arrested at the Kuala Lumpur International Airport Terminal 2 on his return from Singapore yesterday with the assistance of the International Criminal Police Organisation (Interpol), Singapore Police Force's Commercial Affairs Department (CAD Singapore) and Malaysia Airports Aviation Security (AVSEC).

It said Wong was preferred with one charge under section 122C(c) read together with section 87A(b) of the Securities Industries Act 1983 (SIA) for abetting Toh in using RM17.5mil from Multi-Code’s funds between March 26 and 28, 2007 to finance the purchase of over 11 million Multi-Code shares by Ace Prelude Sdn Bhd.

If convicted, Wong may be liable to a fine of not less than RM1mil and a jail term of not exceeding 10 years.

At the court today, Wong claimed trial to the charge. The SC opposed bail and submitted that Wong was a flight risk and had previously absconded the country even when he had ongoing criminal charges against him in a separate case by the SC.

Sessions Court judge Azrul Darus agreed with the SC’s submission and denied Wong bail pending the trial.

“The outcome today underscored the importance of international cooperation and collaboration between the SC and international law enforcement agencies in ensuring perpetrators of securities laws are brought to face the law.

“The SC would like to record its appreciation to Interpol, CAD Singapore and AVSEC for the assistance rendered,” SC said.