Business

Ex-director faces 41 charges over RM16.35 million fund transfers

A former director of a manufacturing company has been charged in three separate Sessions Courts in Kuala Lumpur with 41 counts of causing unlawful transfers amounting to RM16.35 million, resulting in significant losses to the firm

Updated 10 months ago · Published on 08 Oct 2025 6:08PM

Ex-director faces 41 charges over RM16.35 million fund transfers
If convicted, Choong could face imprisonment of not less than two years and up to ten years, as well as fines of up to RM10 million - October 8, 2025

A FORMER director of a manufacturing company has been charged with 41 counts relating to the transfer of RM16.35 million, which allegedly caused financial losses to the company.

Choong Lee Aun, 59, pleaded not guilty when the charges were read before three different Sessions Court judges: 15 charges before Judge Suhaila Haron, 14 before Judge Azrol Darus, and 12 before Judge Norma Ismail.

All charges pertain to Choong’s role as director of AT Systematization Berhad, now known as Erdasan Group Berhad.

He is accused of causing the company to transfer the funds to Delta Million Dynamic Sdn Bhd and Midas Mode Sdn Bhd with the intention of wrongfully causing losses to AT Systematization.

The alleged offences occurred at a bank in Kota Damansara between 20 June 2020 and 30 November 2021. The charges are made under Subsection 317A(1) of the Capital Markets and Services Act 2007 [Act 671], with penalties under Subsection 317A(3) of the same act.

If convicted, Choong could face imprisonment of not less than two years and up to ten years, as well as fines of up to RM10 million.

Deputy Public Prosecutor Shoba Venu Gobal from the Securities Commission requested bail of RM3 million with six local sureties, citing the seriousness of the case and the substantial losses involved. The prosecution also sought conditions requiring Choong to surrender his passport until the case is resolved and to report monthly to the Securities Commission office.

Defence counsel Nicholas Cheoh appealed for reduced bail, highlighting that his client supports his wife and two university-going children and suffers health issues, having undergone three angioplasty surgeries.

He added that Choong is a technology professional who had intended to retire before joining the company and had voluntarily returned to Malaysia from Thailand prior to his arrest.

The court set the next case mention for 7 November and granted bail at RM420,000 with six local sureties, alongside the additional conditions sought by the prosecution. - October 8, 2025

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