| No. | Nature of Offence | Offender(s) | Facts of Case | Date Charged |
|---|---|---|---|---|
| Outcome of Criminal Prosecution - Persons Acquitted | ||||
| 1. | Market manipulation |
|
Mohd Raffique and Ariffin face one charge each for instructing the purchase of Actacorp Holdings Bhd warrants (“AW”) in December 1997 where such purchases were intended to increase the price of AW, which acts were calculated to create a misleading appearance with respect to the price of AW on the KLSE. | Both the accused Ariffin Bin Abdul Majid and Raffique Ibrahim were acquitted and discharged by the Sessions Court on 1 April 2009.
Prosecution filed an appeal against the acquittal to the High Court. |
| 2. | 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. | On 15 July 2009, the Court of Appeal held that there was no falsity in the information submitted to the SC. Decision of the High Court in not calling for Tan’s defence to be entered upheld. Tan was acquitted and discharged. |
| Outcome of Criminal Prosecution - Persons Fined & Acquitted | ||||
| 1. | Directors conspiring to withdraw money from trust account. | Ghazali bin Atan | Ghazali bin Atan & Mohamed bin Abdul Wahab were charged with conspiring to withdraw RM50 million from a Tabung Haji’s trust account under the management of Metrowangsa Asset Management (MAM) to be paid to MIMOS. | Ghazali bin Atan & Mohamad bin Abdul Wahab were found guilty and convicted by the Sessions Court on 1 April 2009.On 7 April 2009 both the accused were fined RM200,000 each and in default 1 year imprisonment. |
| Director knowingly submitted misleading statement to SC. | Mohamed bin Abdul Wahab | Mohamed bin Abdul Wahab was also charged for knowingly allowing a misleading statement to be submitted to the SC in MAM’s semi-annual report from 2000 to 2001. | Mohamad bin Abdul Wahab was found not guilty and was acquitted and discharged by the Sessions Court on 1 April 2009.
Prosecution filed an appeal against the acquittal to the High Court. |
|
| Criminal Prosecution Initiated - Persons Charged | ||||
| 1. | Engage in an act which operates as a fraud in connection with the purchase of securities | Toh Chun Toh Gordon | Toh Chun Toh Gordon, the Director of Multi-code Electronics Industries (M) Berhad (Multi-code), was charged for engaging in an act which operated as a fraud on Multi-code, by utilising RM17.6 million of its funds to finance the purchase of 11.1 million Multi-code shares.
Toh is also faced with an alternative charge for committing criminal breach of trust involving RM26 million of Multi-code’s funds. |
Toh Chun Toh Gordon was charged on 13 March 2009. |
| Abetting Toh Chun Toh Gordon to engage in an act which operates as a fraud in connection with the purchase of securities | Abul Hasan Bin Mohamed Rashid | Abul Hasan, the Director of Multi-code, was charged for abetting Toh Chun Toh Gordon to engage in an act which operated as a fraud on Multi-code, in utilizing RM17.6 million of its funds to finance the purchase of 11.1 million Multi-code shares.
Abul Hasan is also faced with an alternative charge for committing criminal breach of trust involving RM26 million of Multi-code’s funds. |
Abul Hasan was charged on 13 March 2009. | |
| 2. | Furnishing misleading statement to the stock exchange | Tan Chin Han | Tan Chin Han, the former Chief Executive Officer and Executive Director of Welli Multi Corporation Berhad (WMCB), was charged for knowingly authorised the furnishing of misleading statement in WMCB’s Quarterly report for the financial period ended 30 September 2006 to the Bursa Malaysia Securities Berhad. | Tan Chin Han was charged on 11 March 2009 upon failure to pay compound. |
| 3. | Knowingly authorised the furnishing of a misleading statement to Bursa Malaysia Berhad relating to affairs of a listed corporation | Ooi Boon Leong | Ooi Boon Leong, the Director and substantial shareholder of Mems Technology Berhad, was charged for knowingly authorised the furnishing of a misleading statement to Bursa Malaysia Berhad. The misleading statement is in relation to Mems Technology Berhad group’s revenue for year ended 31 July 2007 contained in its condensed consolidated income statements for the 12 month period ended 31 July 2007. | Ooi Boon Leong was charged on 16 April 2009. |
| Knowingly authorised the furnishing of a misleading statement to Bursa Malaysia Berhad relating to affairs of a listed corporation | Tan Yeow Teck | Tan Yeow Teck, the former Director and Chief Financial Officer of Mems Technology Berhad, was charged together with Ooi Boon Leong for knowingly authorised the furnishing of a misleading statement to Bursa Malaysia Berhad. The misleading statement is in relation to Mems Technology Berhad group’s revenue for year ended 31 July 2007 contained in its condensed consolidated income statements for the 12 month period ended 31 July 2007. | Tan Yeow teck was charged on 16 April 2009. | |
| 4. | Abetting the Director cum CEO of United U-Li in Furnishing false statement to Bursa Malaysia. | Yue Chi Kin (William) | William Yue was the engagement and signing partner of Roger Yue, Tan & Associate which audited U-LI’s accounts for FYE 31 December 2004. He was charged for abetting the Director of U-LI in furnishing the false statement which includes the creation of RM 4,000,000 fictitious sales. | William Yue was charged on 28 April 2009 upon his failure to pay the compound. |
| Outcome of Criminal Prosecution - Persons Jailed | ||||
| 1. | Short selling | Lua Yik Hor | Lua, a dealer’s representative of Seagrott & Campbell Sdn Bhd, was charged on 22 May 1996 for short selling 960 lots of The North Borneo Timbers Berhad shares. | Lua was convicted on 10 November 2000 for all 30 offences of short selling.He was sentenced to 2 years imprisonment for each offence, on a concurrent basis.
He appealed against the conviction and the sentence and Prosecution filed a cross appealed against the sentence. The sentence is stayed pending appeal. On 27 February 2009, the High Court dismissed all appeals. The conviction and imprisonment term are upheld. Lua filed an appeal to the Court of Appeal against the decision of the High Court on 27 February 2009. He is on bail of RM100,000 with two sureties. |
| Outcome of Criminal Prosecution - Persons Fined and Jailed | ||||
| 1. | Engaged in an act which operated as a deceit | Ashari Rahmat | Ashari, an operating officer of MIH, was charged in 2000 for engaging in an act which operated as a deceit on UPA Corporation Berhad’s IPO exercise by switching the successful applications with those not put through the balloting process. | Ashari was convicted on 25 March 2009 by the Sessions Court.
He was sentenced to 3 years imprisonment and a fine of RM1 million (in default 1 year imprisonment). The sentence is stayed pending appeal to the High Court. |
| 2. | Misleading statements in connection with the purchase of securities
[s.87A (c) of the SIA 1983] |
Wahid Ali Kassim Ali | Wahid Ali, a director of Aiwanna Manage Assets Sdn Bhd (Aiwanna) was charged on 10 October 2005 with three counts of omitting to state a material fact, pertaining to the investment of Aiwanna’s client, Eastern Pacific Industrial Corporation Bhd (EPIC) whereby the material fact was necessary to make the statement of accounts issued to EPIC, not misleading. | On 30 June 2009, Wahid Ali was found guilty of all three charges under the Section 87A(c) of the Securities Industry Act 1983. He was sentenced to one-year imprisonment for each charge (to be served concurrently) and a fine of RM1 million for each charge (in default of the total RM3 million fine, one-year imprisonment). The sentence is stayed pending appeal to the High Court. |
| 3. | Falsification of records of a futures broker | Sivachandran a/l Kuhiappan | Sivachandran, a licensed futures brokers representative, was charged for having caused information contained within the order forms and order book of AOF Futures Sdn Bhd, a licensed futures broker, to be falsified. The information that was allegedly falsified was in relation to account numbers belonging to clients under Sivachandran’s management. | Sivachandran was charged on 7 May 2004.
On 6 August 2009, the Sessions Court convicted Sivachandran. He was sentenced to 1 year imprisonment and a fine of RM30,000 (in default 6 months imprisonment). The sentence is stayed pending appeal to the High Court. |
| Outcome of Criminal Prosecution - Persons Fined | ||||
| 1. | Maintaining more than one CDS account at the Authorised Depository Agent (ADA) | Yunus bin M. Haniff
Ramly bin Hussain |
Yunus had maintained 7 CDS accounts at 2 ADAs for the purpose of applying for Initial Public Offering shares of K&N Kenanga Holdings Berhad in 1996.
Ramly was charged for abetting Yunus in the above. |
On 6 July 2009, the Sessions Court convicted both Yunus and Ramly. They pleaded guilty to both charges preferred against each of them.
During sentencing on 7 July 2009, both Yunus and Ramly were fined RM10,000 for the first charge (in default 2 months imprisonment) and RM15,000 for the second charge (in default 3 months imprisonment) respectively. |
| 2. | Short selling | Ahmad Skhri Ramli | Ahmad Skhri short sold 202 lots of AKN Technology Berhad 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 Skhri was fined RM300,000 (in default 12 months imprisonment). Ahmad Skhri has appealed against the decision of the Sessions Court. On 4 August 2009, the High Court dismissed the appeal. Both convictions on the short selling and the respective sentences of fine are upheld. |
| 3. | Abetted Megan Media Holdings Berhad in furnishing false statement to Bursa Malaysia
[Section 122B (a)(bb) read together with Section 122C(c) SIA – 4 charges] |
Kok Hen Sen | Kok Hen Sen, the former Financial Controller of Megan Media Holdings Berhad (MMHB), have abetted MMHB who had with intent to deceive, furnished false statements to Bursa Malaysia. The false statements were in relation to MMHB’s Revenue figures in its Financial statements for the year ended 30 April 2006 and Quarterly Reports on Consolidated Results for the Financial Period ended 31 July 2006, 31 October 2006 and 31 January 2007 respectively. | Kok was charged on 10 December 2007.
On 18 August 2009, Kok pleaded guilty to the first charge and the other three charges were taken into consideration under section 171A CPC for sentencing. He was fined RM350,000 (in default 1 year imprisonment). Prosecution filed an appeal against the sentence to the High Court. |
| 4. | Knowingly authorising the furnishing of false statements to Bursa [Section 122B(b) SIA] |
Ng Kim Weng | Ng, former Group Managing Director of Polymate Holdings Berhad (PHB) and Managing Director of ABI Malaysia Sdn Bhd (its wholly owned subsidiary), was charged for knowingly authorising the furnishing of false statements Bursa, namely the inflated revenue and trade receivables of PHB for the year ended 30 September 2003, as contained in PHB’s 2003 Annual Report. | Ng was charged on 7 February 2007.
He pleaded guilty on 20 October 2009 after the Prosecution has called 3 witnesses. Court convicted him on the charge and he was fined RM300,000, in default 1 year imprisonment. |
| 5. | Criminal Breach of Trust (CBT) under s.409 Penal Code;
in the alternative Breach of condition of the SC’s approval under s.32(6) SCA read together with section 40 and section 109 of the Penal Code |
Dato’ Tan Hooi Chong | Dato’ Tan, a director of Kiara Emas Asia Industries Bhd (KEAIB), was charged with criminal breach of trust in relation to RM16,937,739.20 of the rights issue proceeds of KEAIB on three occasions.
He was also charged with three alternative charges of abetting KEAIB in breaching the terms and conditions imposed by the SC in relation to the utilisation of KEAIB’s rights issue proceeds. |
Dato’ Tan was charged on 16 September 2004.
On 10 November 2009 Dato’ Tan pleaded guilty to three alternative charges under s.32(6) SCA for contravening the condition imposed in paragraph 4(i) of the Securities Commission’s letter of approval dated 14 November 2006 in relation to the utilisation of the rights issue proceeds of KEAIB. Dato’ Tan was imposed a fine of RM200,000 for each charge (total RM 600,000) and in default the accused would be liable for 6 months imprisonment for respective charge. |
| 6. | Causing to be submitted false information to SC in connection with a proposal | Yap Kim SengYap 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 SC false information, namely the revenue of PHK for the year ended 31 March 2003.
This information was submitted in connection with Ocean Capital Berhad’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 2 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 has 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 6 months imprisonment). The Commission has recommended to Attorney General’s Chambers to appeal to the Court of Appeal. On 7 December 2009, as the warrant of arrest had not been able to be executed, the Court of Appeal struck out the appeal against sentence. |
| 7. | Causing to be submitted false information to 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 SC false information, namely the revenue of PHK for the year ended 31 March 2003.
This information was submitted in connection with Ocean Capital Berhad’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 2 years imprisonment on 16 January 2006. The charge against Yap Kim Fatt was withdrawn upon the plea of guilt by Yap Kim Seng. 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 6 months imprisonment). On 7 December 2009, as the warrant of arrest had not been able to be executed, the Court of Appeal struck out the appeal against sentence by the Prosecution. |
