Amran, 59, pleaded guilty before Sessions Court judge Tuan Azrul bin Darus to one charge under section 179(b) of the Capital Markets and Services Act 2007 (CMSA). The court also took into consideration a second charge under the same provision pursuant to section 171A of the Criminal Procedure Code (CPC). The court convicted Amran of the charge and sentenced him to 18 months imprisonment and a fine of RM1 million, in default six months imprisonment.

In separate proceedings, Amran pleaded guilty before Sessions Court Judge Tuan Muhammad Ilmami bin Dato’ Haji Ahmad to one charge under section 179(b) of the CMSA read together with section 34 of the Penal Code. The court similarly took into consideration a second charge under the same provision pursuant to section 171A of the CPC. The court convicted Amran of the charge and sentenced him to 18 months imprisonment and a fine of RM1 million, in default six months imprisonment.

Both jail terms were however ordered to be served concurrently from Amran’s date of arrest on 8 September 2025. If Amran fails to pay the fines imposed on him, he will have to serve a further 12 months in prison in default of the fines after serving the 18 months jail term.

The outcome in both courts today was a result of Amran’s plea bargain application under section 172C of the CPC.

The SC had first charged Amran on 8 September 2025 with two charges under section 179(b) of the CMSA for false representations to a father and son duo that their monies entrusted to him would be invested in unit trust funds managed by Kenanga Investors Berhad (KIB). The monies amounting to RM195,000 invested by both victims were instead misutilised by Amran for his own unit trust investments in KIB without their knowledge or consent.

The monies were subsequently redeemed and utilised for various purposes, including personal expenses such as rental and land payments, cash withdrawals, and transfers of funds to third parties.

Separately, Amran had also faced two other joint charges under section 179(b) of the CMSA read together with section 34 of the Penal Code where he and his former wife, Nadihah binti Nawi, had made similar false representations to a married couple. The couple’s monies amounting to RM20,000 were instead misutilised for Nadihah’s unit trust investments in KIB without the couple’s knowledge or consent.

The offences took place between July 2021 and June 2022 in Kuala Lumpur. At the material time, Amran was a unit trust consultant with RHB Asset Management and subsequently KIB.

The SC was represented by SC Deputy Public Prosecutor Mageswary Karroppiah and Prosecuting Officers Adibah Saiful Bahri and Sharifah Noor Effah Syed Ahmad Fuad, while Amran was represented by defence counsel Nor Azri bin Mohd Arif.

The SC will continue with the case against Nadihah before Sessions Court judge Tuan Muhammad Ilmami bin Dato’ Haji Ahmad. The case has been fixed for hearing in October and November 2026.

The SC views securities fraud seriously as such misconduct undermines investor confidence and the integrity of the Malaysian capital market. The SC remains committed to taking firm enforcement action against individuals who engage in fraudulent conduct and abuse investors' trust.

The public is reminded to exercise caution when evaluating investment opportunities and to verify the legitimacy of investment offers and persons through the SC's Investment Checker at www.sc.com.my/investment-checker.