SC issues warrant of arrest against ex-CEO of Transmile

THE Securities Commission (SC) is seeking information from members of the public to locate Gan Boon Aun, the former CEO and executive director of Transmile Group Bhd.

The SC has obtained a warrant of arrest on Oct 18 against Gan. The warrant of arrest was issued by the High Court when Gan failed to appear at the High Court for the hearing of his appeal after several attempts were made to secure his attendance.

Gan was convicted on Aug 27 last year for knowingly furnishing a misleading statement relating to Transmile’s revenue in the company’s Quarterly Report on Unaudited Consolidated Results for the Financial Year ended Dec 31, 2006.

The misleading statement on the revenue amount comprised over RM333 mil fictitious sales. Gan was convicted and sentenced by the Sessions Court to one-day imprisonment and a fine of RM2.5 mil.

He filed an appeal against his conviction while the SC filed a cross-appeal against the sentence imposed by the Sessions Court against Gan him.

The High Court had since dismissed Gan’s appeal following his failure to appear before the High Court for the hearing of his appeal. The court has set Dec 13 for the SC’s cross-appeal against the sentence, pending the execution of the warrant of arrest against Gan.

Members of the public with information on Gan can contact the SC at tel: +6012 248 4186 / +6017 360 8329 /+6012 604 3195 or e-mail: [email protected].

Transmile Group Bhd was delisted from Bursa Malaysia on May 24, 2011

 

Photo Credit: The Edge Markets

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