04-08-2025
Pixelvest fined RM3mil, director jailed for unlicensed capital market activities
KUALA LUMPUR: The Sessions Court has fined Pixelvest Sdn Bhd RM3 million and sentenced its director Dexter Ang Jen Chuen to three years imprisonment for offences relating to unlicensed capital market activities.
In a statement today, Securities Commission Malaysia (SC) said Pixelvest, represented by Ang, pleaded guilty to one charge under section 58(1) of the Capital Markets and Services Act 2007 (CMSA) for carrying out a business in fund management without a licence.
Ang also pleaded guilty to one charge under section 58(1) of the CMSA in his capacity as Pixelvest director, with the sentence to run from the date of his Jan 10 2024 arrest.
On July 28, 2025, Ang pleaded guilty to eight charges of receiving proceeds from unlawful activity under section 4(1)(b) of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 (AMLATFPUAA) in the Sessions Court.
He was sentenced to three years' imprisonment for each offence from the date of arrest with jail terms for all eight charges running concurrently.
The offences took place in Kuala Lumpur and Selangor between December 2020 and January 2023.
Ang was arrested and charged by the SC on Jan 10, 2024 for the offences under the AMLATFPUAA, and thereafter on Feb 26, 2024 for the CMSA offence. Pixelvest was charged on May 10, 2024.
Both had claimed trial to all the charges initially.
Fund management is a regulated activity. Any person carrying on a fund management business requires a licence from the SC under the CMSA.
The SC views unlicensed activities seriously and remains committed to investor protection by taking enforcement actions against those who contravene the law. - Bernama
