Former LFSA chairman charged with using position

Datuk Azizan Abd Rahman, 67, however, pleaded not guilty after both the charges were read out to him before judges Rozina Ayob and Azura Alwi.

In the court before Judge Rozina, Azizan was charged with using his position for gratification in protecting Kensington Trust Labuan Limited from being taken action by LFSA .

The offence was allegedly committed at LFSA office, 10th Floor, Mercu UEM, KL Sentral here on Nov 17, 2020.

The charge, framed under Section 23 (1) of the Malaysian Anti -Corruption Commission (MACC) Act 2009 and punishable under Section 24 (1) of the same act, provides an imprisonment for up to 20 years and a fine of five times the value of the gratification, or RM10,000, whichever is higher, if convicted.

Rozina allowed him bail of RM50,000 with one surety and also ordered him to surrender his passport to the court.

The court set April 5 for mention.

Deputy public prosecutor Ahmad Akram Gharib prosecuted, while Azizan was represented by lawyer Shamsul Sulaiman.

In the court before Judge Azura, Azizan was charged with not declaring his interest as the Director and Trust Officer in Kensington Trust Labuan Limited, which is a financial institution, to LFSA , when chairing the 131st LFSA meeting, and for that, he had breached Section 17(1) of the LFSA Act 1996 (Act 545).

He was charged under Section 17 (8) of the LSFA Act with committing the offence at the same place and date.

Azizan faced a maximum fine of RM250,000 or imprisonment for up to five years or both, if found guilty of the offence.

The prosecution then applied for both cases to be heard together before judge Rozina.