by FAYYADH JAAFAR / pic by BERNAMA

AN ARREST warrant has been issued for former Transmile Group Bhd CEO and ED Gan Boon Aun (picture) after he failed to appear in the High Court for the hearing of his appeal against a recent conviction.

The Securities Commission (SC) said it had obtained the warrant of arrest from the High Court on Oct 18.

The SC said Gan was convicted on Aug 27, 2020, for knowingly furnishing a misleading statement relating to Transmile’s revenue in the company’s quarterly report on unaudited consolidated results for the financial year ended Dec 31, 2006.

“The misleading statement on the revenue amount comprised over RM333 million of fictitious sales. Gan was convicted and sentenced by the Sessions Court to one-day imprisonment and a fine of RM2.5 million,” it said in a statement.

The High Court had dismissed Gan’s appeal against his conviction and sentence, and the SC has filed a cross-appeal against the sentence imposed by the Sessions Court against Gan.

The court has set Dec 13, 2021, for the SC’s cross-appeal against the sentence, pending the execution of the warrant of arrest against Gan.