No. Nature of Offence Offender(s) Facts of Case Date Charged
Criminal Prosecution Initiated � Persons charged
1. Short selling

 

Kok Choon Hoong Kok, a dealer�s representative of HLG Securities Sdn Bhd, short sold 50 lots of Sunrise Berhad shares. Kok was charged on 13 May 1999.
2. Yong Kon Fah @ Yong Kong Fah Yong, short sold 30 lots of Transocean Holdings Berhad shares. Yong was charged on 13 May 1999.
3. Zairin bin Ismail Zairin, a dealer�s representative of Mayban Securities Sdn Bhd, short sold 20 lots of Transocean Holdings Berhad shares. Zairin was charged on 2 August 1999.
4. Mohd Roslan bin Hamzah Roslan, a dealer�s representative of Mayban Securities Sdn Bhd, short sold 25 Lots Transocean Holdings Berhad shares. Roslan was charged on 1 November 1999.
5. Abu Zaharoff bin Abu Bakar Abu Zaharoff, the Executive Director of Halim Securities Sdn Bhd, short sold 14 lots of Suremax Group Berhad shares. Abu Zaharoff was charged on 1 December 1999.
6. Syed Ali bin Syed Hamzah Syed Ali, a remisier with Alor Setar Securities Sdn. Bhd., short sold 600 lots and 283 lots of Isuta Holdings Berhad and Granite Industries Berhad shares, respectively. Syed Ali was charged on 1 December 1999.
7. Voon Chong Kian Voon short sold 10 lots of Latexx Partners Berhad shares. Voon was charged on 2 December 1999.
8. Yeo Kok Keong Yeo, a dealer�s representative of Jupiter Securities Sdn Bhd short sold 40 lots of Transocean Holdings Berhad shares. Yew was charged on 2 December 1999.
9. Causing the submission of false statement to SC in connection with a corporate proposal Ishak bin Ismail Ishak, a director of Idris Hydraulic (M) Berhad (IHMB), was charged on 24 July 1999 for falsely disclosing in IHMB�s proposal to the SC that he did not hold any shares in KFC Holdings (M) Bhd (KFC).
The information submitted was in connection with a proposal for the acquisition of an asset of KFC by IHMB.
Ishak was charged on 24 July 1999.
10. Defrauding clients of an asset management company
Criminal breach of trust
Wan Muhammad Hasni bin Wan Sulaiman Wan Muhammad Hasni, the Executive Chairman of Abrar Global International Sdn Bhd (AGI), was charged on 24 July 1999, for engaging in an act that operated as a fraud on clients of Abrar Global Asset Management Sdn Bhd (AGAM), a wholly owned subsidiary of AGI, by causing the mis-utilisation of clients� funds totalling RM5 million that was meant for investment purposes.

Wan Muhammad Hasni was also charged in the alternative for criminal breach of trust involving the RM5 million of client funds.

Wan Muhammad Hasni was charged on 24 July 1999.

Please refer to year 2006�s folder for the outcome of the appeal.

11. Persons who made false statements to the SC and the KLSE

 

Tiah Thee Kian Datuk Tiah furnished false statements to the KLSE in respect of his off-market dealings in shares of Omega Holdings Bhd. Datuk Tiah had falsely reported:

  • That TA Securities transacted 28,036,000 Omega shares at RM11.50 per share when in fact it was done at RM6.45 per share; and
  • That TA Securities transacted 7,010,000 Omega-A shares at RM9.80 per share when in fact it was done at RM6.45 per share.
Tiah was charged on 4 August 1999.
Khoo Poh Kim @ Kimmy Kimmy Khoo abetted Tiah Thee Kian in a scheme to defraud Omega Securities Sdn Bhd. Kimmy Khoo was charged on 4 August 1999.
12. Ng Wu Hong Ng, the CEO of Sarawak Securities Sdn Bhd (SSSB), was charged for being involved in a scheme to defraud SSSB by creating false collaterals in various margin accounts (phantom shares). The false collaterals were created for the purpose of making cash withdrawals, avoiding margin calls and absorbing purchases in various share-trading accounts. The false collaterals caused SSSB to suffer an exposure of RM36.4 million. Ng was charged on 11 November 1999.
Kho Cheng Wei Kho, a margin clerk with SSSB, was charged for being involved in creating false collaterals in various margin accounts (phantom shares). The false collaterals caused SSSB to suffer an exposure of RM401,000. Kho was charged on 11 November 1999.
  Lee Sai Lan Lee, a margin clerk with SSSB, was charged for being involved in creating false collaterals in various margin accounts (phantom shares). The false collaterals caused SSSB to suffer an exposure of RM284,873. Lee was charged on 11 November 1999.
13. Yeoh Guan Yong Yeoh, Lau, Lim, Ng, Tan Tiong Kiam and Tan Chuen Hock were engaged in an act which operated as a fraud upon Hwang DBS Securities Sdn Bhd. Yeoh, Lau, Lim, and Ng were charged on 8 September 1999.
Tan Tiong Kiam and Tan Chuen Hock were charged on 1 October 1999.
Lau Seng Khiang
Lim Peng Khoon
Ng Kin Hong
Tan Tiong Kiam
Tan Chuen Hock
14. Market manipulation Low Thiam Hock Low, executive chairman of Repco Holdings Berhad (Repco), was charged for manipulating the price of Repco shares. Low was charged on 18 September 1999.
15. Utilisation of company proceeds for purposes other than as approved by SC.
Causing the submission of misleading information to the SC in connection with a corporate proposal.
Ong Weng Seng @ Ong Say Lam Ong, director of Associated Kaolin Industries Berhad (AKI), abetted AKI in misutilising RM30 million of the proceeds raised via AKI�s bond issue. The said amount was not utilised in accordance with SC�s approval condition.
He also caused the submission of misleading information to SC in connection with the utilisation of said bond issue proceeds.
Ong was charged on 24 December 1999.
Outcome of Criminal Prosecution � Persons fined
No. Nature of Offence Offender(s) Facts of Case Sentence
1. Short selling Kok Choon Hoong Kok, a dealer�s representative of HLG Securities Sdn Bhd, was charged on 13 May 1999 for short selling 50 lots of Sunrise Berhad shares. Kok pleaded guilty and was convicted on 16 August 1999 of the offence.
He was fined RM100,000 (in default 10 months imprisonment).
    Voon Chong Kian Voon, was charged on 2 December 1999 for short selling 10 lots of Latexx Partners Berhad shares. Voon pleaded guilty on 2 December 1999 and was convicted of the offence.
He was fined RM10,000 (in default 3 months imprisonment).
    Yeo Kok Keong Yeo, a dealer�s representative of Jupiter Securities Sdn Bhd, was charged on 2 December 1999 for short selling 40 lots of Transocean Holdings Berhad shares. Yeo pleaded guilty on 2 December 1999 and was convicted of the offence.
He was fined RM80,000 (in default 6 months imprisonment).