Man who evaded the law for 15 years charged with securities fraud

THE Securities Commission Malaysia (SC) has charged Daniel Wong Jit Kiang in the Kuala Lumpur Sessions Court with abetting the late Gordon Toh Chun Toh in defrauding Multi-Code Electronics Industries (M) Berhad amounting to RM17.6 mil in 2007.

Wong had been at large for 15 years despite the numerous efforts made to locate him and two separate warrants of arrest issued against him in 2009 and 2019.

He was arrested at the Kuala Lumpur International Airport Terminal 2 (KLIA2) on his return from Singapore on Wednesday (May 8) with assistance from the International Criminal Police Organisation (Interpol), Singapore Police Force’s Commercial Affairs Department (CAD Singapore) and Malaysia Airports Aviation Security (AVSEC).

Wong was charged under Section 122C(c) read together with Section 87A(b) of the Securities Industries Act 1983 (SIA) for abetting Toh in using RM17.5 mil from Multi-Code’s funds between March 26 and 28 to finance the purchase of over 11 million Multi-Code shares by Ace Prelude Sdn Bhd.

If convicted, Wong may be liable to a fine of not less than RM1 mil and a jail term of not exceeding 10 years.

The late Toh, a Singaporean and former MD of Multi-Code, had previously been charged by the SC for the principal offence under Section 87A(b) of the SIA in 2009.

Toh was also charged in the alternative for committing criminal breach of trust (CBT) under Section 409 of the Penal Code.

Toh was convicted by the Sessions Court on the alternative charge after a full trial and was sentenced to 12 years imprisonment and a fine of RM1 mil, in default two years imprisonment.

Toh had filed an appeal to the High Court against his conviction and sentence, however he passed away before his appeal was heard by the High Court.

The SC had opposed to Wong’s bail and submitted that Wong is a flight risk and had previously left the country even when he had ongoing criminal charges against him in a separate case by the SC.

Sessions Court Judge Azrul Darus agreed with SC’s submission and denied Wong bail pending his trial. – May 9, 2024

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