Director of ‘investment academy’ charged with abusing position

Director of ‘investment academy’ charged with abusing position

Yee Ho Yong is accused of transferring more than RM3 million of Golden Summit Academy's funds to his personal account.

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Yee Ho Yong is charged under Section 218(1)(c) of the Companies Act 2016, which provides for up to five years’ jail, a maximum fine of RM3 million, or both, upon conviction. (File pic)
PETALING JAYA:
The director of a company that brands itself as an “investment academy” has been charged with abusing his position by transferring company funds into his personal account without the approval of the firm’s general meeting.

Yee Ho Yong, 32, pleaded not guilty in the Kuala Lumpur sessions court after the charge was read out before judge Hamidah Deril, Bernama reported.

He was charged with abusing his position as a director of Golden Summit Academy Sdn Bhd by transferring RM3,149,000 in company funds into his Maybank account.

The offence was allegedly committed in a Sentul office between Feb 16 and Dec 24, 2022.

The charge was framed under Section 218(1)(c) of the Companies Act 2016, which provides for up to five years’ jail, a maximum fine of RM3 million, or both, upon conviction.

Hamidah allowed Yee, who was represented by lawyer Lim Chi Chau, bail of RM100,000. He was also ordered to surrender his passport to the court.

The judge fixed Aug 6 for case mention.

Deputy public prosecutor Akmalzatul Mohamed Nawi appeared for the prosecution.

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