Court frees ex-financial controller of fake info charge

  • Nation
  • Wednesday, 07 Jan 2004

KUALA LUMPUR: The Sessions Court acquitted a former financial controller of an investment holding company of falsifying information to the Securities Commission regarding her company’s employment share option scheme about seven years ago. 

Judge Akhtar Tahir said even though he found that Tan Siew Hui played a pivotal role during the flotation exercise of TCL Premier Holdings Berhad shares, the company directors were fully aware of the application and its other procedures. 

“The accused was merely a conduit in giving the information to the parties. I cannot for a moment conclude that the accused had given the false information. 

“If any was given, it was by the company and not the accused,” Akhtar said before concluding that the prosecution had failed to prove its case beyond reasonable doubt.  

Akhtar said he found Tan had abided by all the Securities Commission guidelines regarding the employee’s company share entitlement. 

“One thing clear from the evidence of the witnesses, including the company directors and the employees called to testify, was that the number of shares given to them did follow the guidelines on eligibility. 

“The criteria had been complied with and the directors had confirmed this,” he said. 

The judge added that he found Tan did not commit any offence against the Securities Commission. 

“It was a private arrangement between the accused and the employees. The offence here is with regard to the employees who failed to get their shares and not to the Securities Commission,” he said. 

At the onset, the judge allowed the prosecution to amend the charge against Tan, in which she was accused of giving false information regarding the allocation of TCL Premier Holdings Berhad shares to 20 of its employees at the Securities Commission in Bukit Damansara here on Jan 6, 1997. 

Tan claimed trial to the amended charge. 

Akhtar said the prosecution faced the burden of proving its case beyond reasonable doubt as the alleged offence was committed before the amendment to the Criminal Procedure Code, which lowered it to that of a prima facie case. 

Tan was seen teary-eyed as she walked out of the dock accompanied by her counsel K. K. Wong.  

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