THE former directors of GIIB Holdings Bhd, Tai Boon Wee and Wong Ping Kiong, have been discharged and acquitted by the Kuala Lumpur Sessions Court.

This decision follows the Kuala Lumpur High Court’s ruling to quash four charges under Section 18 of the MACC 2009 Act.

The charges were related to allegations of furnishing false documents with the intent to deceive company auditors.

The defence argued that the documents could not have been false, and the auditors could not have been deceived.

The charges stemmed from accusations made by a former director of finance who was later dismissed for misconduct.

An independent forensic audit found no fraud, and the statutory auditor did not raise any concerns regarding the allegations.

In 2022, GIIB filed a civil suit against the former director of finance and others for conspiracy and false allegations.

Tai and Wong are the founders of the company. – TMR