Malaysia’s Securities Commission (SC) has charged Lau Min Thung, a former head of dealing at CIMB Investment Bank, with securities fraud and money laundering. Lau, 43, allegedly defrauded three investors of MYR808,000 (USD182,560) by promising fictitious bond investments between February 2013 and April 2014, instead using the funds to trade shares in unrelated accounts. He faces three charges under the Capital Markets and Services Act 2007, which carry up to 10 years in jail and a minimum MYR1 million fine if convicted. He also faces three money laundering charges under the Anti-Money Laundering Act, with a maximum five-year jail term or MYR5 million fine. Lau pleaded not guilty and was granted MYR200,000 bail across two courts.