THE Attorney-General’s Chambers and the Securities Commission (SC) today withdrew charges of insider trading against lawyer Sreesanthan Eliathamb.

Sreesanthan is formerly the senior partner in a law firm advising the companies Sime Darby, Golden Hope Plantations Bhd, and Kumpulan Guthrie Bhd on their merger.

When contacted by The Malaysian Insight, Sreesanthan said he was relieved that the case had finally come to an end

“I’m relieved that these charges have finally been withdrawn on the back of the acquittal in the first case that went to a full trial,” he said.

“I’m back in reasonably active practice which is something I’ve enjoyed doing and will continue to do. But I’m not in a hurry to get back into active practice.”

Sreesanthan was charged with seven counts of insider trading in July 2012 involving four companies listed on Bursa Malaysia, including Sime Darby.

Earlier this year, the Kuala Lumpur sessions courts acquitted him of three counts of insider trading in Sime Darby Bhd shares in 2006.

Judge Zamri Bakar ruled that the purported inside information on which Sreesanthan was accused of trading, had been in the public domain, including in several reputable journals and commentaries.

The AGC and the SC have also withdrawn their appeal against the sessions court’s decision. – October 20, 2021.