KUALA LUMPUR, May 17 — The former executive chairman of Megan Media Holdings Berhad was sentenced to 18 months’ jail and fined RM300,000 or one year imprisonment by the Sessions Court today after he was found guilty of submitting false statements to Bursa Malaysia Securities Berhad on the company’s earnings amounting to RM306,150,000, about 10 years ago , Judge Zulqarnain Hassan handed down the sentence on Datuk Mohd Adam Che Harun, 73, after his statement of defence was found to be mere denial and had failed to raise a reasonable doubt.
The judge ordered the defendant to pay the fine today and granted a stay pending appeal against the jail sentence.
“This is a serious offence and the court will impose a sentence that will be a lesson to deter others from doing the same thing in future,” he said.
Mohd Adam, who is also a former director of the company, was charged with wilfully making fraudulent statements as contained in Megan Media Holdings Berhad’s quarterly report on the company’s consolidated financial statements for the year ending 31 Jan 2007, at Bursa Malaysia Securities Berhad, Bukit Kewangan, Kuala Lumpur on March 30, 2007.
The charge, under Section 122B (a) (b) read together with 122 (1) of the Securities Industry Act 1983 and punishable under the same Act, provides for a maximum fine of RM3 million or imprisonment of up to 10 years or both.
Earlier, lawyer Lim Kon Keen, representing Mohd Adam appealed for the imposition of a fine as his client was suffering from diabetes, high blood pressure and was still receiving treatment after a heart surgery.
Securities Commission prosecuting officer Roz Mawar Rozain urged the court to impose the appropriate sentence as the offence was serious.
Six prosecution and eight defence witnesses were called to testify during the trial. — Bernama
