PETALING JAYA: The Securities Commission (SC) has charged Choong Lee Aun, former managing director of AT Systematization Bhd, at the Kuala Lumpur Sessions Court for causing wrongful losses amounting to RM16.35mil to the company.
AT Systematization is now known as Erdasan Group Bhd.
In a statement, SC said the 59-year-old Choong faces 41 charges under section 317A (1) of the Capital Markets and Services Act 2007 (CMSA) for allegedly making payments totalling RM16.35mil to Delta Million Dynamic Sdn Bhd and Midas Mode Sdn Bhd.
The offences took place between June 2020 and November 2021 in Petaling Jaya, Selangor.
If convicted, Choong faces a jail term of not less than two years and not exceeding 10 years and is also liable to a fine not exceeding RM10mil.
He claimed trial to all 41 charges in three separate courts and was granted bail of RM420,000 in total.
