Updates on Criminal Prosecution in 2018

No. Nature of Offence Offender(s) Facts of Case Date Charged
Criminal Prosecution Initiated – Persons Charged
1. Insider trading Mohd Nor Bin Abdul Wahid (‘Nor’) Nor was charged with one count of insider trading under section 188(2)(a) of the CMSA. He is alleged to have acquired 500,000 units of Three-A Resources Berhad shares on 5 October 2009 while in possession of inside information in relation to the proposed collective venture between the businesses of Three-A Resources Berhad and Wilmar International Limited. Nor was charged on 13 February 2018.
2. Allowing a person who is not an authorised nominee of a deposited security to effect dealings in respect of the deposited security Azuzay Bin Zamani (‘Azuzay’) Azuzay was charged under section 29A of the Securities Industry (Central Depositories) Act 1991 (SICDA). Azuzay, who holds an account at OSK Investment Bank Berhad, is alleged to have allowed Mohd Nor Bin Abdul Wahid to effect the acquisition of 500,000 units of Three-A Resources Berhad shares on 5 October 2009. Azuzay was charged on 13 February 2018.
3. Engaged in an act which operated as a fraud in connection with the purchase of securities Ismail bin Basir Ismail was charged under section 87A(b) of the Securities Industry Act 1983 (SIA) and section 179(b) of the Capital Markets Services Act 2007 (CMSA). Between August 2007 and November 2008, Ismail was alleged to have defrauded Koperasi Pelaburan Pekerja-Pekerja Proton Bhd (“KOPRO”) of its investments of RM350,000 for the purchase of securities. Ismail was also alleged to have represented to KOPRO that he was a remisier, when in fact he was never licensed by the SC. Ismail was charged on 16 January 2018