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, had 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 contained 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 to him admitting 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.

Wira filed an appeal against the sentence and the appeal was heard by the High Court on 14 July 2006. On 19 July 2006, the High Court allowed the appeal against the sentence and quashed the decision by the Session Court and substituted the sentence with one day’s imprisonment and RM2 million fine (in default 24 months’ imprisonment).

OUTCOME OF CRIMINAL PROSECUTION – PERSONS FINED
1. Short selling Ahmad Skhri Ramli Ahmad Skhri short sold 202 lots of AKN Technology Bhd shares.

Ahmad Skhri was charged on 16 January 2002.

On 21 December 2006, at the end of the case he was convicted of two charges under section 41(1)(a) SIA 1983 read together with section 122C(c) of the same Act for abetting PBSN in the short selling of 202 lots of AKN Technology Berhad shares.

Ahmad Shkri was fined RM300,000 (in default 12 months imprisonment).

Ahmad Skhri has filed an appeal against the sentence at the High Court.
2.

Defrauding clients of an asset management company

Criminal breach of trust

Wan Muhammad Hasni Wan Sulaiman

Wan Muhammad Hasni, the Executive Chairman of Abrar Global International Sdn Bhd (AGI), was charged on 24 July 1999, for engaging in an act that operated as a fraud on clients of Abrar Global Asset Management Sdn Bhd (AGAM), a wholly owned subsidiary of AGI, by causing the misutilisation of clients’ funds totalling RM5 million that was meant for investment purposes.

Wan Muhammad Hasni was also charged in the alternative for criminal breach of trust involving the RM5 million of client funds. In respect of this alternative charge, the Sessions Court found that there was no prima facie case made out against Wan Hasni at the end of the prosecution’s case.

The High Court has reversed the decision of the Sessions Court and acquitted Wan Muhammad Hasni.

The Public Prosecutor appealed to the Court of Appeal against the decision of the High Court.


No.

Nature of Offence

Offender(s)

Facts of Case

Date Charge

CRIMINAL PROSECUTION INITIATED – PERSONS CHARGED

1.

Causing to be submitted false information to the SC in connection with a proposal

Chan Kok Suan

Chan Kok Suan, the Group Managing Director of Granasia Corporation Bhd, (GCB), was charged for causing to be submitted to the SC false information, namely the revenue and profit after tax of GCB for the year ended 31 December 2002.

This information was submitted in connection with GCB’s listing proposal on the Main Board of the Exchange.

Chan was charged on 9 February 2006.

2.

Operating an illegal futures market

Bay Put Hai

Bay, a Singapore citizen, operated an illegal futures market between 2 July 2001 and 7 March 2002 at Reinn Holdings Sdn Bhd, Level 6, Menara Genesis, 33, Jalan Sultan Ismail, 50250 Kuala Lumpur.

Bay was charged on 16 February 2006.

OUTCOME OF CRIMINAL PROSECUTION – PERSONS JAILED
1. Causing to be submitted false information to the SC in connection with a proposal
Yap Kim Seng
Yap Kim Fatt

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 Seng pleaded guilty to the charge and was convicted and sentenced to two years’ imprisonment on 16 January 2006.

The charge against Yap Kim Fatt was withdrawn upon the plea of guilt by Yap Kim Seng.

Yap Kim Seng appealed against the decision of the Sessions Court.

On 6 December 2006, the High Court allowed his appeal to the extent that the 2-year imprisonment sentence is substituted with a fine of RM500,000 (in default six months’ imprisonment).

The Public Prosecutor appealed to the Court of Appeal against the decision of the High Court.

Outcome of Criminal Prosecution – Person acquitted
1. Defrauding a stockbroking company Yeoh Guan Yong Yeoh, was engaged in an act which operated as a fraud upon Hwang DBS Securities Sdn Bhd.

Yeoh Guan Yong was charged on 8 September 1999.

Yeoh was acquitted and discharged by the Sessions Court on 20 January 2006 at the end of Defence’s case.

Prosecution has appealed against the decision of the Sessions Court. This matter is currently pending appeal.

2. Operating an illegal futures market
Jomi @ Umi Kamandan
Kong Kim Fung
Henny O Borubui
Emorevest Sdn Bhd
Jomi, Kong, Henny and Emorevest operated an illegal futures market at the premises of Emorevest Sdn Bhd.

Jomi, Kong and Henny were charged on 12 December 2002. Emorevest was charged on 19 December 2002.

The three accused persons and defendant company were acquitted and discharged by the Sessions Court on 11 May 2006 at the end of Prosecution’s case.

Prosecution appealed against the decision of the Sessions Court. This matter is currently pending appeal.

3.

Market manipulation

Low Thiam Hock

Low, executive chairman of Repco Holdings Bhd (Repco), was charged for manipulating the price of Repco shares.

Low was charged on 18 September 1999.

Low was acquitted and discharged on 14 November 2006.

Prosecution filed an appeal against the acquittal to the High Court.