KUALA LUMPUR: A company founded by businessman Datuk Mahadi Badrul Zaman pleaded not guilty to two counts of illegal securities trading.
Mahadi, who appeared in court on behalf of AUF MBZ Consortium PLT, claimed trial after the charges were read out before judge Izralizam Sanusi yesterday.
AUF MBZ allegedly conducted securities trading despite not having a Capital Markets Services Licence nor registration for the controlled securities trading activities.
The offence carries a maximum fine of RM10mil or up to 10 years jail, or both, if convicted.
Securities Commission’s deputy public prosecutor K. Mageswary asked the court to transfer the case before judges Azrul Darus and Norma Ismail to be heard with other cases involving Mahadi.
On Feb 23, Mahadi claimed trial to two similar charges.
Izralizam allowed the application and fixed April 10 for next mention.
