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KUALA LUMPUR: The High Court here has allowed the Malaysian Securities Commission (SC) a provisional order to freeze around RM170 million of assets of businessman Wong Shee Kai, who is still at large, and two others for a legal crime .
SC, in a statement today, said the order stems from SC’s lawsuit against defendants regarding securities fraud offenses involving Bright Packaging Industry Berhad, under Section 179 of the Capital Markets and Services (CMSA).
The ex parte order prohibits Wong, also known as Ricky Wong, his mother Teh Sew Wan, and a company he owns, Wong SK Holdings Sdn Bhd, from dealing with assets and property worth RM169,223,500.
Wong, who holds a Datuk degree, is said to be the CEO and founder of Asia Media, the country’s largest transit television network.
Judicial Commissioner Anand Ponnudurai also ordered that all three defendants must disclose a complete, complete and accurate account of their assets in and outside Malaysia.
The order will compel all defendants and will also prohibit anyone from knowingly aiding or permiting any dealings with the defendants’ property.
Attorney Lim Chee Wee, who represented SC, also said that the order also did not allow banks to exercise their right to compensate for any facilities they have been given to defendants.
He said the SC filed the lawsuit Tuesday and obtained the ex parte order on Friday.
The court further held that the service of this order to all defendants is considered valid as if it had been advertised in an English newspaper during the current movement control order period.
Last month, the SC also sought public assistance to locate Wong, who is wanted in connection with crimes under anti-money laundering laws.
The call was made after the SC obtained an arrest warrant, issued against Wong, from a magistrate in late December for failing to appear before the SC investigating officer.
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