|Key Criminal Prosecution Initiatives Criminal Breach of Trust Charges Against Directors |
Prosecution Against Professionals
- Tan Hooi Chong, a director of Kiara Emas Asia Industries Bhd (Kiara Emas), was charged for committing criminal breach of trust in relation to RM16.9 million of Kiara Emas’ rights issue proceeds.
- Yip Yee Foo and Chung Wai Meng, directors of Cold Storage (Malaysia) Bhd (CSM), were charged for securities fraud and criminal breach of trust involving RM185 million of CSM’s funds.
Prosecution Following Revocation of SC’s Approval
- Tan Kam Sang, the accountant of Kiara Emas, and Ravandran a/l Thangaveloo, a partner of Messrs Arthur Andersen & Co, were charged for furnishing false information to the SC pertaining to the status of utilisation of Kiara Emas’ rights issue proceeds.
- Ng Chee Loong, the principal of Messrs Ng & Associates, was charged for causing Energro Bhd’s prospectus, which contained false information, to be issued.
- Wira Tjakrawinata (also known as Kenneth Chow), an Indonesian, was charged for failing to inform the SC that information submitted to the SC in relation to Omega Holdings Bhd’s restructuring proposal may be false and for causing Energro Bhd’s prospectus, containing a material omission and false information, to be issued.