KUALA LUMPUR: London Biscuits Bhd’s former executive director and group CEO Datuk Seri Liew Yew Chung claimed trial at two Sessions Courts to 11 charges of causing wrongful losses amounting to more than RM7mil.
Liew, 56, who at the material time was a director of a listed corporation, Khee San Bhd, was charged with intentionally causing wrongful loss to Khee San Food Industries Sdn Bhd by cancelling 25 debt agreements between the company and 11 individuals, totalling RM7,119,465.
He was accused of allegedly committing the offences at Khee San Food Industries, Jalan Kolej, Seri Kembangan, in 2019.
Liew was charged under Subsection 317A(1) of the Capital Markets and Services Act 2007 (Act 671), which carries a maximum sentence of 10 years’ imprisonment and a fine of up to RM10mil, or both, upon conviction.
Securities Commission (SC) prosecuting officer Keith Loo offered bail at RM3mil in two sureties and an additional condition that the accused report to the SC office once every two months pending the completion of the case.
“This is a serious offence as it involves investor confidence in investing in the Malaysian capital market. Therefore, we seek a commensurate bail amount,” he said.
Liew’s lawyer Shankar Govinth, asked for a lower bail, arguing that his client had previously been charged in May last year at the Sessions Court here, with bail set at RM300,000 in two sureties.
“My client appeared in court in a wheelchair and wearing a neck brace after undergoing three surgeries last year. He is also currently receiving treatment for depression and nerve-related issues,” Shankar said.
Judges Azrul Darus and Norma Ismail respectively fixed bail at RM80,000 in one surety for all the cases.
The courts also allowed additional conditions to be imposed on the accused, with the case set for mention on March 12.
