No. Nature of Offence Offender(s) Facts of Case Date Charge
OUTCOME OF CRIMINAL PROSECUTION – PERSONS JAILED & FINED

1.

Failing to advise the SC upon becoming aware, before proposal was fully implemented, that information submitted to the SC may be false.

Causing to be issued a prospectus containing information from which there is a material omission.

Causing to be issued a prospectus which contained false information.

Wira Tjakrawinata

Wira, also known as Kenneth Chow, failed to inform the SC upon becoming aware, before Omega Holdings Bhd’s proposal was fully implemented, that the information on the sales concession agreement between Milan Auto (M) Sdn Bhd and Fiat Auto SpA may be false.

Wira was also charged for causing to be issued Energro Bhd’s prospectus that contains information from which there is a material omission pertaining to the said sales concession agreement.

The third charge Wira is facing is for causing to be issued Energro Bhd’s prospectus that contained false information namely, the revenue for 2003 is RM82.336 million and the number of Alfa Romeo cars sold in 2003 is 558.

Wira was charged on 14 October 2004.

Wira pleaded guilty to the third charge and was convicted on 22 August 2005 for causing to be issued a prospectus which contained false information.

Wira was sentenced to one year’s imprisonment and fined RM500,000 (in default one month’s imprisonment).

Upon the plea of guilt for the third charge, the Court took into consideration his admission to the first and second charges.

On 23 August 2005, upon Wira’s application, the Court granted a stay of execution of the imprisonment sentence pending appeal.

CRIMINAL PROSECUTION INITIATED – PERSONS CHARGED
1. Misleading statements in connection with the purchase of securities

Wahid Ali Kassim Ali

Wahid Ali, the Director of Aiwanna Management Assets Sdn Bhd (Aiwanna) was charged with three counts for omitting to state a material fact pertaining to the investment of Aiwanna’s client, Eastern Pacific Industrial Corporation Bhd (EPIC), in the purchase of bonds.

The material fact omitted caused the statement of accounts issued to EPIC for the month of December 2001, January 2002 and February 2002, to be misleading.

Wahid was charged on 19 October 2005.
2. Market manipulation
Wong Chee Kheong
Ng Chong Yeng
Bun Lit Chun

Wong, Ng and Bun were charged, in furtherance of their common intention, for creating a misleading appearance with respect of the price of Suremax Group Bhd (Suremax) shares on Bursa Malaysia through 153 CDS accounts.

Further, an alternative common intention charge was preferred against them for creating a misleading appearance of active trading in Suremax shares through the said accounts which did not involve any change in beneficial ownership and had the effect of raising the price of the shares.

Wong, Ng and Bun were charged on 25 October 2005.
3. Maintaining more than one CDS account at any authorised depository agent (ADA)

Yunus M. Haniff

Yunus was charged with two counts for maintaining seven CDS accounts at two ADAs for the purposes of applying for IPO shares of K&N Kenanga Holdings Bhd in 1996.

Ramly was charged for abetting Yunus in the commission of the offences.

Yunus and Ramly were charged on 26 October 2005.
4.

Operating an futures market without licence

Yanto

Yanto, an Indonesian citizen with permanent resident status in Singapore, was charged for operating an illegal futures market between 10 March 2003 and 27 May 2003 at Unique Mega Marketing Sdn Bhd, Suite 3B-20-7, Level 20, Block 3B, Plaza Sentral, Jalan Stesen Sentral 5, 50470 Kuala Lumpur.

Yanto was charged on 25 November 2005.

5.

Operating an illegal futures market

Koh Chin Heng @ Xu Zhenxing

Koh, a Singaporean citizen, operated an illegal futures market between 20 March 2003 and 27 May 2003 at Unique Mega Marketing Sdn Bhd, Unit 12.08, Level 12, Amcorp Tower, Amcorp Trade Center, 18 Persiaran Barat, 46050 Petaling Jaya, Selangor.

Koh was charged on 13 October 2005.

6.

Market manipulation

(Dato’) Chin Chan Leong

Two charges were preferred against Chin for –

  • creating a misleading appearance of active trading in Fountain View Development Bhd (FVDB) shares through transactions that did not involve any change in beneficial ownership; and
  • causing to be created a misleading appearance with respect to the price of FVDB through transactions that did not involve any change in beneficial ownership,

on Bursa Malaysia through 20 central depository securities accounts.

Hiew, former remisier at Avenue Securities Sdn Bhd, was charged for abetting Chin in the two said offences.

Chin and Hiew were charged on 27 June 2005.

Hiew Yoke Lan (Joanne)
7.

Engaging in an act that operated as a fraud on a public listed company

Criminal breach of trust

(Dato’ Lybrand) Ngu Tieng Ung

Two charges were preferred against Ngu, Director of Pancaran Ikrab Bhd (PIB) at the material time, for engaging in an act that operated as a fraud on PIB by utilising RM15.5 million of PIB’s funds to finance the purchase of PIB shares when the money was not meant to be utilised for that purpose.

Ngu was also charged for committing criminal breach of trust in respect of RM21.5 million of PIB’s funds.

Ngu is also faced with an alternative charge to the three charges for committing criminal breach of trust involving RM37 million of PIB’s funds.

Wong was charged as an abettor to Ngu on all the aforesaid charges.

Ngu and Wong were charged on 5 May 2005.

(Daniel) Wong Jit Kiang
8. Causing to be submitted false information to the SC in connection with a proposal

Yap Kim Seng

Yap Kim Seng, the Managing Director, and Yap Kim Fatt, the Executive Director, of Pasaraya Hiong Kong Sdn Bhd (PHK), were charged for causing to be submitted to the SC false information, namely the revenue of PHK for the year ended 31 March 2003.

This information was submitted in connection with Ocean Capital Bhd’s proposed corporate restructuring exercise which included the proposed acquisition of PHK.

Yap Kim Seng and Yap Kim Fatt were charged on 25 April 2005.
Yap Kim Fatt
CRIMINAL PROSECUTION INITIATED – PERSONS JAILED

1.

Fraud involving IPO share applications

Cheating

Lee Han Kong

Lee and Tan engaged in an act which operated as a fraud upon UPA Corporation Bhd (UPA), namely, by the switching of successfully balloted envelopes of UPA share applications with envelopes that were not put through the balloting process.

On 27 July 2004, alternative charges were preferred against Lee and Tan for cheating UPA by deceiving UPA into believing certain applications for the initial public offering of the UPA shares had been successfully balloted when in fact the applications were not balloted. UPA was dishonestly induced to allot the shares to those applicants.

Lee and Tan were both charged on 20 March 2000.

Lee and Tan pleaded guilty to the alternative charge of cheating and were convicted on 5 May 2005. They were sentenced to 20 months imprisonment.

Lee and Tan have filed an appeal against the sentence imposed and have obtained a stay execution of the imprisonment sentence pending their appeal.

Tan Tiam Lay
CRIMINAL PROSECUTION INITIATED – PERSONS FINED

1.

Utilisation of public issue proceeds for purposes other than as approved by the SC

Criminal breach of trust

Gwi Chin Fatt

Gwi, director of Plantation & Development Bhd (P&D), was charged on 22 February 2001 for abetting P&D in utilising its public issue proceeds amounting to RM26,493,335.57 for purposes other than as approved by the SC.

Gwi, was also charged in the alternative, for criminal breach of trust in respect of the misutilisation of P&D’s public issue proceeds in contravention of conditions imposed by the SC.

Gwi pleaded guilty and was convicted on 25 July 2005 for abetting P&D in mis-utilising the public issue proceeds.

Gwi was fined RM500,000 (in default 15 months’ imprisonment).

Upon the plea of guilt for the principle charge, Gwi was acquitted and discharged from the alternative charge for criminal breach of trust.

2.

Utilisation of public issue proceeds for purposes other than as approved by the SC

Yong Tiam Yoon

Yong, Chief Executive Officer of Plantation & Development Bhd (P&D), was charged on 22 February 2001 for abetting P&D in utilising its public issue proceeds amounting to RM26,493,335.57 for purposes other than as approved by the SC.

Yong pleaded guilty and was convicted on 9 August 2005 for abetting P&D in mis-utilising the public issue proceeds.

Yong was fined RM600,000 (in default 20 months’ imprisonment).