Kuala Lumpur, 17 May 2017
Former Executive Chairman of Megan Media sentenced to 18 months jail for Submission of False Information
Securities Commission Malaysia (SC) today won a case against former Executive Chairman of Megan Media Holdings for submission of false information.
The Kuala Lumpur Sessions Court sentenced Dato Dr Haji Mohd Adam Che Harun, aged 73, to 18 months jail and fined RM300,000 in default one year imprisonment, for having furnished false information to Bursa Malaysia pertaining to the revenue of Megan Media Holdings contained in its quarterly results for the financial period ended 31 January 2007. The false information relates to Megan Media’s revenue amounting to approximately RM306 millions.
In sentencing the accused person, the Sessions Court Judge Tuan Zulqarnain Hassan viewed the offence serious and held that the accused should refrain from providing such false information to Bursa. The judge also held that it is important for investors to have confidence in the capital market.
The offence under section 122B, read together with 122(1) of the Securities Industry Act 1983 carries a penalty of a fine of not more than RM3 million or jail not exceeding 10 years, or to both.
SECURITIES COMMISSION MALAYSIA