Sunday 22 Dec 2024
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KUALA LUMPUR (Jan 5): The founder of a well-known wellness centre chain has been charged with misappropriating RM60,000 from the company for personal use, according to a charge sheet sighted by theedgemarkets.com.

Chuah Seong Keat, or better known as Leon Chuah, was charged at the Magistrate’s Court in Petaling Jaya on Thursday (Jan 5) for allegedly committing the offence in January 2018.

The charge under Section 403 of the Penal Code provides for a jail term of six months to five years, along with whipping and a fine, if found guilty.  

“Bail was requested at RM8,000 by the public prosecutor and was reduced to RM3,000,” said a source familiar with the matter, adding that the case has been adjourned till March 22.

It is understood that the wellness centre chain’s new management hired one of the big four audit firms to carry out an independent forensic audit after Chuah left the company in October 2020 as managing director, and found irregular and unusual transactions performed during his tenure.

Although Chuah was the founder of the chain, data from Companies Commission Malaysia show that he is now left with only a 1.52% stake in the company.

Subsequent to the forensic audit, the company is understood to have lodged a police report against Chuah, who then presented himself at the Petaling Jaya police commercial crime department on Thursday, before he was arrested and brought to court.

Edited ByS Kanagaraju
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