KUALA LUMPUR: AUF MBZ Consortium PLT, founded by businessman Mahadi Badrul Zaman, claimed trial in the sessions court here today to two more charges of conducting unlicensed securities trading.
Mahadi, appearing on behalf of the company as its founder, pleaded not guilty to both counts after they were read to him before judge Izralizam Sanusi.
In the first charge, the company was accused of carrying out a regulated activity, namely dealing in securities, without holding a Capital Markets Services Licence or registration.
The offence was allegedly committed between June 14, 2021 and Aug 9, 2023 at Bayrocks Garden Waterfront Villa, Sunway South Quay, in Subang Jaya, Selangor.
The second charge alleged that the company committed the same offence at the same address between Sept 3, 2021 and Feb 15, 2024.
Both charges were framed under Section 58(1) of the Capital Markets and Services Act 2007, punishable under Section 58(4) of the same Act which provides for a fine of up to RM10 million, imprisonment of up to 10 years, or both upon conviction.
During proceedings, Securities Commission Malaysia’s deputy public prosecutor K Mageswary informed the court that no bail was proposed as the charges were brought against a company, not an individual.
The company was represented by lawyer Zamri Idrus.
Izralizam fixed April 10 for case management.
On Monday, Mahadi pleaded not guilty on behalf of the company to two charges of conducting securities trading without the required licence or registration.
The offences were said to have occurred at the company’s Subang Jaya premises during separate periods between June 2021 and February 2024.
Islamic banking figure Daud Bakar claimed trial in the sessions court after being charged with abetting unlicensed securities trading activities involving AUF MBZ Consortium.
The prosecution claimed the alleged conspiracy involved dealings connected to Energy Eco Bhd, which Daud was said to represent.
