Top corporate lawyer charged with insider trading
UPDATED @ 04:42:13 PM 20-07-2012
KUALA LUMPUR, July 20 — Top corporate lawyer Datuk E. Sreesanthan has been charged in the Sessions Court here today with seven counts of insider trading of Sime Darby, UEM, VADS and Maxis stocks.
The 51-year-old claimed trial to the charges which were read as three charges and given bail of RM300,000.
He is alleged to have committed the offences at Bursa Malaysia Securities Bhd in Bukit Kewangan here between October 9, 2006 and April 27, 2008, according to The Star news portal.
Sreesanthan (picture) is being charged under section 89E (2)(a) of the Securities Industry Act 1983 and section 188(2)(a) of the Capital Markets and Services Act 2007.
He specialises in mergers and acquisitions and sits on the boards of several companies including Malayan Banking Bhd, Sime Darby Bhd, Guinness Anchor Bhd and Scomi Group Bhd.
The case management date has been set for September 20.