PETALING JAYA: The Securities Commission (SC) has charged AUF MBZ Consortium PLT founder Datuk Wira Mahadi Badrul Zaman at the Kuala Lumpur Sessions Court with two counts of conducting unlicensed capital market activities.
The charges were brought under Section 58(1) of the Capital Markets and Services Act 2007 (CMSA), the regulator said in a statement.
“The charges were in relation to AUF MBZ’s conduct of carrying on a business of dealing in securities without a Capital Markets Services Licence issued by the SC.
“Mahadi, who is also a partner of AUF MBZ, is deemed to have committed the offences which occurred between June 14, 2021, to Aug 9, 2023, (the first charge) and between Sept 3, 2021, to Feb 15, 2024, (the second charge) in Selangor under section 367(1) of the CMSA.
Mahadi claimed trial to both charges, which were read out in two separate courts.
Separately, Tan Sri Mohd Daud Bakar, a former director of unlisted public company Energy Eco Bhd (EEB), was charged with one count of abetment under section 58(1), read together with section 370(c) of the CMSA.
The charge relates to EEB’s alleged abetment of AUF MBZ in committing the offence under the first charge.
Daud, who was a representative of EEB at the material time, is deemed to have committed the offence under section 367(1) of the CMSA. Daud also claimed trial.
