A SINGAPOREAN was charged with helping a former company director and two others commit securities fraud involving RM24 million.
A. Eswaramoorthy Pillay, 44, claimed trial to five charges of abetting.
Eswaramoorthy, who is the executive director of Linear Corp Bhd (9504), was charged with aiding former LFE Corp Bhd director Alan Rajendram, who allegedly cheated LFE by using the company's RM9 million to buy nine million of its shares.
He allegedly committed the offence at Bursa Malaysia Depository Sdn Bhd in Bukit Kewangan, Kuala Lumpur, between January 4 and February 8 2007.
He also faces an alternative charge of abetting Rajendram to commit criminal breach of trust (CBT) involving RM9 million on January 4 2007 at Standard Chartered Bank Bhd in Jalan Ampang.
The other four charges are:
* abetting Rajendram in committing CBT involving RM9.99 million at the same branch of the Standard Chartered Bank between January 11 and 16, 2007;
* abetting Chin Soong Jin, 43, to cheat EON Bank Bhd involving RM870,000 at Menara EON Bank in Jalan Raja Laut between October 16 and 19 2006;
* abetting Chin to cheat EON Bank Bhd involving RM1.8 million at the same branch of EON Bank between November 27 and 28 2006; and,
* abetting Chin and Liew Kiam Woon, 46, to cheat EON Bank involving RM1.298 million at the same branch of EON Bank on December 26 2006.
Deputy public prosecutor Chong Loong Men asked to fix bail at RM1 million as the offences were serious.
However, Eswaramoorthy's lawyer Datuk K. Kumaraendran asked for a lower sum saying his client was ready to surrender his passport.
Judge Rozana Ali Yusoff set bail at RM1 million, with RM500,000 to be deposited as security. She also ordered Eswaramoorthy to surrender his passport to the court and fixed July 27 for mention.
By Irdiani Mohd Salleh
Business Times
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