| No. | Nature of Offence | Offender(s) | Facts of Case | Date Charged |
|---|---|---|---|---|
| Criminal Prosecution Initiated – Persons Charged | ||||
| 1. | Furnishing false statement to Bursa Malaysia Securities Berhad | Koh Tee Jin Lee Han Boon Saipuddin Lim bin Abdullah |
Koh Tee Jin, Saipuddin Lim and Lee Han Boon were each charged with five counts of furnishing false statements relating to the revenue of Axis Incorporation Berhad (“Axis”) to Bursa Malaysia. The charges which were preferred under section 122B(b)(bb) of the Securities Industry Act 1983 (SIA) and section 369(b)(B) of the Capital Markets and Services Act 2007 (CMSA) were in relation to false statements contained in Axis’ four quarterly reports for the financial year 2007 and the quarter ending 31 March 2008 | Koh Tee Jin, Lee Han Boon and Saipuddin Lim were charged on 21 March 2013. |
| 2. | Abetting the furnishing of a false statement to Bursa Malaysia Securities Berhad | Lee Koon Huat | Lee Koon Huat was charged with four counts of abetting Axis Incorporation Berhad (“Axis”) in furnishing false statements relating to the revenue of Axis to Bursa Malaysia. The charges which were preferred under section 122C(c) read together with section 122B(a)(bb) of the Securities Industry Act 1983 (SIA) were in relation to false statements contained in Axis’ four quarterly reports for the financial year 2007. | Lee Koon Huat was charged on 26 March 2013. |
| 3. | Furnishing false statement to Bursa Malaysia Securities Berhad |
|
Tan Han Kook and Ching Siew Cheong were each charged with seven and eight counts respectively of furnishing false statements relating to the revenue of Silver Bird Group Berhad to Bursa Malaysia. The charges which were preferred under section 369(b)(B) of the Capital Markets and Services Act 2007 (CMSA) were in relation to false statements contained in Silver Bird Group Berhad’s quarterly reports for financial years 2010 and 2011. | Tan Han Kook and Ching Siew Cheong were charged on 11 September 2013. |
| Outcome of Criminal Prosecution – Persons Fined | ||||
| 1. | Submission of misleading statement to the SC | Mohamed bin Abdul Wahab | On 12 March 2003, Mohamed bin Abdul Wahab was charged under s.47C(5) of the Securities Industry Act 1983 (SIA) for having abetted Metrowangsa Asset Management Sdn Bhd (Metrowangsa) in using RM50 million of Lembaga Tabung Haji’s funds to pay Mimos Berhad, another client of Metrowangsa.He was also charged with two counts of knowingly authorizing the furnishing of misleading statements to the SC in Metrowangsa’s semi-annual report from 2000 to 2001. The charges which were preferred under s.122B(b)(cc) of the SIA were in relation to the amount of funds managed by Metrowangsa in 2000 and 2001. | On 1 April 2009, the Sessions Court found Mohamed bin Abdul Wahab guilty of the 1st charge under s.47C(5) of the SIA. He was ordered to pay a fine of RM200,000, in default one year imprisonment. However, the Sessions Court acquitted Mohamed bin Abdul Wahab of the 2nd and 3rd charges relating to the furnishing of misleading statements to the SC. The Prosecution filed an appeal against the acquittal to the High Court. On 14 February 2013, the High Court dismissed the appeal by the Prosecution and affirmed Mohamed’s acquittal of the said two charges.On 19 February 2013, the Prosecution filed an appeal to the Court of Appeal against the decision of the High Court. On 13 December 2013, the Court of Appeal reversed the decision of the High Court and found Mohamed guilty of the 2nd and 3rd charges. The Court of Appeal sentenced him to a fine of RM 500,000 for each charge, in default of payment, one year imprisonment. |
|
Zamani bin Hamdan | Zamani Hamdan was, at the material time, a director of Rantau Simfoni Sdn Bhd. He was charged with holding himself out as a representative of a Capital Markets Services Licence holder to trade in futures contracts without a licence. Zamani was also charged in the alternative for carrying on the business of trading in futures contracts without a license, through his company, Rantau Simfoni. |
Zamani Hamdan was charged on 28 October 2011. On 30 April 2013, Zamani was convicted by the Sessions Court on the alternative charge of carrying on the business of trading in futures contracts without holding a Capital Markets Services Licence through his company Rantau Simfoni Sdn Bhd. The Sessions Court sentenced him to a fine of RM1 million. Zamani has filed an appeal against the conviction and sentence on 2 May 2013 while the Prosecution filed an appeal against the sentence on 8 May 2013. | |
| Outcome of Criminal Prosecution – Persons Fined and Jailed | ||||
| Engaging 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 successful applications with those not put through the balloting process. | Ashari was convicted after a full trial on 25 March 2009 by the Sessions Court Kuala Lumpur.He was sentenced to 3 years imprisonment and a fine of RM1 million (in default 1 year imprisonment).On 4 January 2012, the High Court confirmed his conviction and the fine sentence of RM1 million was ordered to be paid.On 5 March 2012, the Court of Appeal confirmed the said conviction and sentence. | |
| 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 14 January 2013, the High Court dismissed Wahid Ali’s appeal against his conviction and sentence imposed by the Sessions Court on 30 June 2009. Pending his appeal to the Court of Appeal against the said High Court decision, Wahid Ali was ordered to execute a bond of RM1 million to stay the execution of the sentences. | |
| Outcome of Criminal Prosecution – Persons Acquitted | ||||
| Submission of misleading information to the SC | Mohamed bin Abdul Wahab | On 12 March 2003, Mohamed bin Abdul Wahab was charged with three charges under the SIA. The first charge was preferred under s.47C(5) of the SIA where he was charged with having abetted Metrowangsa in using RM50 million of Lembaga Tabung Haji’s moneys to pay another of its clients.He was also charged with two charges under s.122B(b)(cc) of the SIA for knowingly authorizing the furnishing of misleading statements to the SC in Metrowangsa’s semi-annual report from 2000 to 2001.The misleading statements therein were in relation to the amount of funds managed by Metrowangsa in 2000 and 2001. | On 1 April 2009, the Sessions Court found Mohamed bin Abdul Wahab guilty of the 1st charge under s.47C(5) of the SIA. He was ordered to pay a fine of RM200,000, in default one year imprisonment.However, Mohamed bin Abdul Wahab was found not guilty and was acquitted of the 2nd and 3rd charges relating to furnishing of misleading statements to the SC and was acquitted and discharged by the Sessions Court on the same day. The Prosecution filed an appeal against the acquittal to the High Court.On 14 February 2013, the High Court dismissed the appeal by the Prosecution and affirmed Mohamed bin Abdul Wahab’s acquittal of the said two charges.The Prosecution had on 19 February 2013 filed an appeal to the Court of Appeal against the decision of the High Court. | |
| Illegal fund management activities | Anuar Abdul Aziz | Anuar was charged with carrying out the functions of a fund manager’s representative for Corporate Eight Asset Management Sdn Bhd (now known as Oasis Asset Management Sdn Bhd) without a licence. | Anuar was charged on 2 September 2003. He was acquitted by the Sessions Court on 20 May 2010. On 12 October 2012, the High Court dismissed the appeal by the Prosecution. The Prosecution filed an appeal to the Court of Appeal against the acquittal of Anuar at the end of Prosecution stage.On 15 August 2013, the Court of Appeal dismissed Prosecution’s appeal and upheld the decision by the Sessions Court and High Court. |
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| Outcome of Criminal Prosecution | ||||
| Market manipulation | Low Thiam Hock | Low, executive chairman of Repco Holdings Berhad (Repco), was charged for manipulating the price of Repco shares on the KLSE on 3 December 1997. | Low was charged on 18 September 1999.At the end of the prosecution case, Low was acquitted and discharged by the Sessions Court Kuala Lumpur on 14 November 2006.On 15 October 2010, the High Court dismissed the Prosecution’s appeal against the acquittal.On 28 February 2013, the Court of Appeal unanimously allowed the Prosecution’s appeal and set aside the Respondent’s acquittal. The Respondent was ordered to enter his defence to the said charge under section 84(1).The case has been remitted to the Sessions Court for retrial. | |
