KUALA LUMPUR: The Securities Commission (SC) has sued Datuk Sreesanthan Eliathamby for insider trading involving Worldwide Holdings Bhd shares. This was the second time Sreesanthan was charged by the SC. In 2012, the SC charged him with seven counts of insider trading in the shares of four different stocks, namely Sime Darby Bhd, Maxis Communications Bhd, UEM World Bhd and VADS Bhd. At the time, Sreesanthan wasa senior partner in a law firm which was engaged to act as the legal adviser of the proposed privatisation of Worldwide, said the SC. Worldwide Holdings announced the proposed privatisation to Bursa Malaysia on August 23 2006.

Source: New Strait Times October 20, 2016 03:00 UTC