|Criminal Prosecution Initiated – Persons charged|
|No.||Nature of Offence||Offender(s)||Facts of Case||Date Charged|
|1.||Submission of false statement in connection to
|Tam Kut Hing||Tam, the Managing Director of P.I. Capital Asset Management Sdn Bhd (P.I. Capital), submitted a false statement in connection with P.I. Capital�s application for a Fund Manager�s licence.||Tam was charged on 15 April 1998.|
|2.||Short selling||Mohd Hanapiah bin Abdul Rahman||Mohd Hanapiah short sold 90 lots of Suremax Group Berhad shares.||Phang was charged on 10 July 1998.|
|3.||Phang Ah Heng @ Phang Ah Hing||Phang short sold 12 lots of Transocean Holdings Berhad shares.||Phang was charged on 10 July 1998.|
|4.||Defrauding Issuing House||Fauzi Ismail||Fauzi engaged in an act that operated as a fraud upon Malaysian Issuing House Sdn Bhd between 5 February and 5 March 1997.||Fauzi was charged on 10 November 1998.
On 1 November 1999, Prosecution withdrew the charge against the Accused.
|Outcome of Criminal Prosecution – Persons fined|
|No.||Nature of Offence||Offender(s)||Facts of Case||Sentence|
|1.||Short selling||Mohd Hanapiah bin Abdul Rahman||Mohd Hanapiah was charged on 1 July 1998 for short selling 90 lots of Suremax Group Berhad shares.||Mohd Hanapiah pleaded guilty and was convicted on 23 November 1998 of the offence.
He was fined RM200,000 (in default 12 months imprisonment).
|2.||Phang Ah Heng @ Phang Ah Hing||Phang was charged on 10 July 1998 for short selling 12 lots of Transocean Holdings Berhad shares.||Phang pleaded guilty and was convicted on 7 December 1998 for the offence of short selling.
He was fined RM90,000.