KUALA LUMPUR – Former Megan Media Holdings Bhd executive chairman and director Datuk Dr Mohd Adam Che Harun has been sentenced to 18 months’ jail for furnishing false revenue figures to Bursa Malaysia Securities Berhad.
Sessions Court judge Zulqarnain Hassan also fined Dr Mohd Adam RM300,000 and ordered him to be jailed for another one year if he fails to pay the fine.
Zulqarnain meted out the sentence after the defence failed to prove reasonable doubt against Dr Mohd Adam, 74.
He said the court viewed the offence seriously and that as an executive chairman and director, Dr Mohd Adam should not have provided false information in the company’s financial year statement.
“This is a serious offence. It is important for the investors, particularly foreign investors, to gain confidence and it would affect investment in our country,” he said when delivering his judgment yesterday.
The judge instructed the sentence to run from yesterday.
Earlier in mitigation, Dr Mohd Adam’s counsel Lim Kon Keen submitted that his client was 74 years old and that three of his six children were secondary school students. He said Dr Mohd Adam was a bankrupt and had not been working since 2007.
Lim also said Dr Mohd Adam suffered from hypertension and diabetes, and had undergone heart surgery. He urged the court to impose a fine and not a jail sentence to his client.
Securities Commission deputy public prosecutor Roz Mawar Rozain said the court should mete out a one-year jail sentence and a fine of more than RM350,000 because Dr Mohd Adam was the one who instructed that RM306,150,000 be stated as profit.
Six prosecution and 10 defence witnesses were called to testify in the trial.
Dr Mohd Adam was charged on Dec 10, 2007, with furnishing false information to Bursa Malaysia in the Quarterly Report on Consolidated Result of Megan Media for the financial period ended Jan 31, 2007.
He was at that time the executive chairman and director of the company.
He was accused under Section 122B(a)(bb), which was read together with Section 122(1) of the Securities Industry Act 1983, and punishable under Section 122B of the same Act. The offence was committed at Bursa Malaysia in Bukit Kewangan here on March 30, 2007.
Zulqarnain granted stay on the jail sentence pending appeal.