ENFORCEMENT MILESTONES

Spot Commodity and Spot Index Trading Firms

• Formed a special task force to combat illegal spot commodity and spot index-trading firms.
• The task force raided eight such companies and formal investigations were carried out.
• Charged six persons for conducting illegal futures trading.
• Launched a campaign to educate and warn members of the public against the activities of these bogus investment companies.

Major Criminal Prosecutions

• Launched a campaign to educate and warn members of the public against the activities of these bogus investment companies.
• Charged Dato’ Soh Chee Wen for securities fraud.
• Charged Tan Soon Geok (Executive Director of Gensoil) and his dealer, Esmail Naziadin, for share manipulation.
• Charged Lim Chai Hock (Managing Director of Tat Sang Holdings Bhd) for submitting false information to the SC and KLSE.
• Charged Emorevest Sdn Bhd and three of its officers for operating an illegal futures market. This is the SC ’s first prosecution for the operation of illegal futures market in Sabah and Sarawak.
• The Sessions Court ordered Wan Muhammad Hasni (former Executive Chairman of Abrar Global International Sdn Bhd) to enter his defence on fraud charges.

Four Criminals Sentenced to Jail for Committing Securities Fraud

• Haron Jambari (former remisier) was sentenced to three years imprisonment and a fine of RM1 million. This was the SC ’s first ever conviction in a securities fraud case, followed by a string of other successful results against securities fraudsters.
• Nik Aziz Nik Mohd (former accountant in Majlis Agama Islam) was sentenced to three years' imprisonment and a fine of RM1 million for abetting Haron.
• Ng Wu Hong (CEO of Sarawak Securities) was sentenced to two years' imprisonment.
• Kho Cheng Wei (former employee of Sarawak Securities) was sentenced to eight months' imprisonment.

• Datuk Tiah Thee Kian (former Chairman of TA Securities) pleaded guilty to furnishing false statements to the KLSE and was sentenced to the maximum fine of RM3 million, the highest ever recorded.

Administrative Actions

• Receiver appointed to take-over clients’ funds under the management of Metrowangsa Asset Management (Metrowangsa).
• Fund manager’s representative licences revoked from Dr Ghazali Atan (CEO of Metrowangsa) and Mohd Abdul Wahab (Executive Director of Metrowangsa).