Last updated on August 23, 2025
KUALA LUMPUR: The Sessions Court has convicted Pixelvest Sdn Bhd and its director, Ang Jen Chuen (also known as Dexter Ang), for engaging in unlicensed capital market activities. Ang had previously been convicted of money laundering on 28 July 2025.
Pixelvest, represented by Ang, pleaded guilty to a charge under Section 58(1) of the Capital Markets and Services Act 2007 (CMSA) for conducting fund management without a licence. The court imposed a RM3 million fine, as ruled by Judge Puan Siti Shakirah binti Datoā Wira Mohtarudin.
Ang also admitted guilt under the same section of the CMSA in his role as director of Pixelvest. He received a three-year jail sentence, effective from his arrest on 10 January 2024.
Earlier, on 28 July 2025, Ang pleaded guilty to eight counts of receiving proceeds from unlawful activities under Section 4(1)(b) of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 (AMLATFPUAA). Sessions Court Judge Puan Norma binti Ismail sentenced him to three yearsā imprisonment for each charge, with the sentences to run concurrently from the date of arrest.
The offences by both Pixelvest and Ang were committed between December 2020 and January 2023 in Kuala Lumpur and Selangor.
Ang was first charged by the Securities Commission Malaysia (SC) on 10 January 2024 for offences under the AMLATFPUAA and later on 26 February 2024 for the CMSA violation. Pixelvest was charged on 10 May 2024. Both initially claimed trial to all charges.
The SC reiterated that fund management is a regulated activity requiring a valid licence under the CMSA. It emphasized its commitment to investor protection and warned that strict action would be taken against unlicensed operators.
Investors are urged to consult the SCās Investor Alert List for updates on potentially fraudulent or unlicensed entities.
