SC charges Yanto for operating an illegal futures market
The Securities Commission (SC) today charged Yanto, an Indonesian citizen, in the Kuala Lumpur Sessions Court 1, one of the dedicated courts for capital market offences.
Yanto was charged under Section 3(1) of the Futures Industry Act 1993 (FIA) for operating a futures market, which was neither a futures market of an exchange company nor an exempt futures market.
The offence was committed between 10 March 2003 and 27 May 2003 at Unique Mega Marketing Sdn Bhd (Company No.: 570371-M), Suite 3B-20-7, Level 20, Block 3B, Plaza Sentral, Jalan Stesen Sentral 5, 50470 Kuala Lumpur.
The offence is punishable under Section 3(2) of the FIA, which carries a maximum fine of RM1 million or 10 years imprisonment or both.
The SC had raided Unique Mega Marketing Sdn Bhd on 28 May 2005 after receiving complaints from several individuals who had lost their investments placed with the company.
The Court granted Yanto bail at RM200,000 with one local surety and his passport to be surrendered to court.
The Prosecution is applying for Yanto to be jointly tried with Koh Chin Heng, and the mention date for the joint trial application is fixed for 23 December 2005 . Koh, a Singaporean and also of Unique Mega Marketing Sdn Bhd, was charged with the same offence on 13 October 2005. The Court granted Koh bail at RM400,000 with one local surety.