| No. | Nature of Offence | Offender(s) | Facts of Case | Date Charged |
|---|---|---|---|---|
Criminal Prosecution Initiated – Persons Charged |
||||
| 1. | Holding out as a fund manager without a license | Phazaluddin bin Abu | Phazaluddin bin Abu was charged under section 15A of the Securities Industry Act 1983, where he was charged to have held himself out to be a fund manager without a license. He was alleged to have committed the offence through the internet website www.danafutures.com. The website, among others, purports that investments from the general public would be invested in securities. | Phazaluddin was charged on 29 February 2008. |
| 2. | Furnishing misleading statement to the SC and stock exchange | Ang Sun BengAng Soon An | Ang Sun Beng and Ang Soon An, the former Managing Director and Executive Director of Welli Multi Corporation Berhad (WMCB), were both charged with four counts under s.122B(a)(bb) SIA 1983 read together with s.122(1) SIA 1983 for furnishing misleading statements in WMCB’s annual report FYE 2005 and first 3 quarter report of FYE 2006 to the SC and Bursa Malaysia Securities Berhad. | Ang Sun Beng and Ang Soon An were charged on 15 April 2008. |
| 3. | False Statements to Bursa in four of Satang Holding Berhad’s quarterly financial reports. | Jamaluddin bin Hassan | Jamaluddin (Executive Chairman and Managing Director), Gan (Executive Director) and Hakim (Executive Director) have knowingly authorized the furnishing of false statements to Bursa Malaysia in 4 of its quarterly financial reports. | Jamaluddin, Gan and Hakim were charged on 4 December 2008. |
| Gan Chin Sam | ||||
| Hakim bin Sukirman | ||||
| 4. | Directly employing a scheme to defraud in connection with trading in futures and trading on behalf of another without a licence. | Raja Noor Asma Raja Harun | Raja Noor Asma was charged for employing a scheme to defraud investors of FX Capital Sdn Bhd and FX Consultant and trading on behalf of another without a licence. Investigation revealed that she collected over RM100 million from about 4,200 investors from all over Malaysia in the pretext that she was trading in future contracts on their behalf. | Raja Noor Asma Raja Harun was charged on 17 December 2008. |
| Outcome of Criminal Prosecution – Persons Fined | ||||
| 1. | Multiple IPO share applications | Gan Yew Chok | SC’s investigation found that Gan had used the identity cards of several individuals living in rural Kelantan when he applied for the IPO shares of Ulbon Berhad and Metrod (M) Berhad in 1995 and 1996. He made a profit of RM57,000 from the sale of these shares, when 11 of the multiple share applications he put in were successfully balloted. | Gan pleaded guilty and was convicted of both offences and fined (in total) RM70,000, in default 6 months imprisonment. |
| 2. | Acting as a fund manager’s representative without a licence | Siti Mariam bte Berahim | Siti Mariam acted as fund manager’s representatives for Perdana Technology Sdn Bhd (Perdana Technology) without a licence. | Siti Mariam and Dr. Barjoyai were both convicted of the offences on 13 March 2008.On 25 March 2008, the Sessions Court fined Siti Mariam RM50,000, in default 6 months imprisonment and Dr. Barjoyai RM100,000 in default 8 months imprisonment.The Accused and Prosecution have respectively filed an appeal against the sentence at the High Court. |
| Engaging unlicensed persons to carry out the activities of a fund manager’s representative | Dr. Barjoyai Bardai | Dr. Barjoyai, a director of Perdana Technology Ventures Sdn Bhd, had breached a condition of Perdana Technology Ventures’s fund manager’s licence by allowing two unlicensed persons to act as the company’s fund manager’s representative. | ||
| 3. | Operating an illegal futures market |
|
Jomi, Kong, Henny and Emorevest operated an illegal futures market at the premises of Emorevest Sdn Bhd. | On 28 May 2008, all 4 accused persons pleaded guilty and were convicted for the offence.The Court had imposed sentence as follows:-
|
| 4. | Stock market manipulatorsDirector who submitted false statement to the SC | Tan Soon Geok @ Tan Soon Leng | Tan was charged for abetting a dealer to manipulate the share price of General Soil Engineering Holdings Bhd (Gensoil). Esmail, the said dealer, was charged together with Tan for the same offence.Tan was also charged for furnishing a false statement to the SC in respect of his dealings in Gensoil shares. | Tan pleaded guilty to the second charge (submitting false statement to the SC) and admitted to the first charge (market manipulation) in which the admission to the first charge was taken into consideration by the court during sentencing.A fine of RM 150,000 was imposed against Tan and in default Tan would be liable to 3 months imprisonment. |
| Outcome of Criminal Prosecution – Persons Acquitted | ||||
| 1. | Submission of false statement to the SC in connection with proposal submitted | Tan Siew Hui | Tan, the Group Financial Controller of TCL Premier Holdings Bhd, had caused a letter dated 6 January 1997 that contained false information to be submitted to SC. | Tan was acquitted and discharged by the High Court on 6 March 2008.Prosecution has filed an appeal against the decision acquittal at the Court of Appeal. This matter is currently pending appeal. |
| 2. | Submission of false statements in connection to:
|
Tam Kut Hing | Tam, the Managing Director of P.I. Capital Asset Management Sdn Bhd (P.I. Capital), submitted false statements in connection with P.I. Capital’s application for a Fund Manager’s licence and an application for the renewal of the said licence a year after. | Tam was charged on 15 April 1998. He was acquitted by the Sessions Court on 29 November 2002 and by the High Court on 28 February 2006.AG’s Chambers has filed Notice of Appeal to the Court of Appeal on 13 Mac 2006. On 10 October 2008, the Court of Appeal has unanimously decided to affirm the High Court decision. Appeal was dismissed and Tam was acquitted. |
| 3. | Director who permitted the furnishing of false statement to the KLSE | Peter Ling Ee Kong | Peter Ling, a director of Wembley Industries Holdings Bhd (WIHB) was charged for knowingly and willfully permitting the furnishing of a false statement to the KLSE in relation to WIHB’s affairs.The false statement was in WIHB’s announcement to KLSE dated 25 February 1998 which stated that none of the directors or substantial shareholders of WIHB have any interest, direct and/or indirect, in the disposal of its subsidiaries when in fact he had an indirect interest in the disposal. | Peter Ling was acquitted and discharged on 26 December 2008. |
| Outcome of Criminal Prosecution | ||||
| 1. | Short selling | CIMB Securities Sdn Bhd (CIMB Securities) | CIMB Securities, Credit Lyonnais and Ng short sold 141,000 units of Proton Berhad shares. | CIMB Securities, Credit Lyonnais and Ng were charged on 11 December 1997. CIMB Securities, Credit Lyonnais and Ng were convicted on 17 May 2004. CIMB Securities and CreditLyonnais were fined RM400,000 each and Ng was fined RM200,000 (in default one year’s imprisonment). The fine was paid. CIMB and Credit Lyonnais have filed an appeal against the conviction and sentence to the High Court. The Prosecution also filed cross appeals against all parties on the sentences. The High Court had ruled that it would proceed to hear the appeals in the absence of written grounds of decision by the late Sessions Court Judge. CIMB and Credit Lyonnais’ appeals to the Court of Appeal and the Federal Court against the High Court’s ruling have been dismissed. The case is now remitted back to the High Court for the hearing of the appeals on its merits. |
| Credit Lyonnais Securities (Singapore) Pte Ltd (Credit Lyonnais) | ||||
| Ng Wai Hong | ||||
