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Former KFC Boss Pleads Not Guilty To Insider Trading, Misleading

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KUALA LUMPUR: Former KFC Holdings Berhad deputy executive chairman Datuk Ishak Ismail has been charged by a Sessions Court here for making misleading statements and on two counts of insider trading.

Ishak, who is also a businessman and was a major shareholder of Kenmark Industrial Co. (M), pleaded not guilty to the three charges when it was read out in front of Sessions Court judge Mat Ghani Abdullah.

The three offences were alleged to have been committed between June 4 and June 11, 2010.

If convicted, Ishak could face up to 10 years’ jail and fines of no less than RM1mil for each of the three offences.

Judge Mat Ghani Abdullah set bail at RM600,000 and allowed Ishak to keep his passport.

Deputy Public Prosecutor Roz Mawal Rozain asked for bail to be set at RM500,000 and for the accused’s passport be surrendered.

However lawyer Datuk Tan Hock Chuan, who represented Ishak, asked that his client be allowed to keep his passport as he would be leaving for his pilgrimage, and also had businesses overseas.

Judge Mat Ghani set July 15 for mention.

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