| No. | Nature of Offence | Offender(s) | Facts of Case | Date Charged |
|---|---|---|---|---|
Criminal Prosecution Initiated - Persons Charged |
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1. |
Dishonest dealers who cheat investors
Criminal breach of trust
|
Haron bin Jambari | Haron, a dealer, made a false statement of a material fact to his client, Majlis Agama Islam Wilayah Persekutuan, relating to the purchase of Petronas Dagangan Bhd (PDB transaction) shares.
Haron was also charged and convicted for criminal breach of trust (CBT) in connection with the PDB transaction where RM2 million of Baitumal funds were misappropriated. |
Haron Jambari was charged on 16 May 1995. |
| 2. | Dishonest employees who cheat their employers in share transactions | Nik Aziz bin Nik Mohd Amin | Nik Aziz, an accountant in Majlis Agama Islam, abetted Haron Jambari in making the false statement to his employer on the PDB share transaction.
Nik Aziz was also charged and convicted for CBT and corrupt practices in connection with the PDB transaction. |
Nik Aziz was charged on 16 May 1995. |
| 3. | Persons who gave investment advice without an investment adviser’s licence | Anuar Abdul Aziz | Anuar Aziz, an unlicensed investment adviser, made investments recommendations to participants during an investment seminar. | Anuar was charged on 25 September 1995. |
| 4. | Making a false statement in connection with the purchase of securities | Malaysian Issuing House (MIH) | MIH was charged for making a false statement in a press release on the over subscription rate of the Great Wall Plastic Industries Berhad's initial public offering shares. | MIH was charged on 20 December 1995. |
Outcome of Criminal Prosecution - Persons Fined |
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| 1. | Making a false statement in connection with the purchase of securities | Malaysian Issuing House (MIH) | MIH was charged on 20 December 1995 for making a false statement in a press release on the over subscription rate of the Great Wall Plastic Industries Berhad's initial public offering shares. | MIH pleaded guilty on 20 December 1995 and was convicted of of the offence. MIH was fined RM1 million. |
