| No. | Nature of Offence | Offender(s) | Facts of Case | Date Charged |
|---|---|---|---|---|
| Outcome of Criminal Prosecution – Persons Fined and Jailed | ||||
| 1. | Abetting United U-Li Corporation Berhad (“U-Li”) in making a misleading statement to Bursa Malaysia. | Yue Chi Kin | Yue Chi Kin (“Yue”) was charged under section 122B (b)(bb) read together with section 122C(c) of the Securities Industry Act 1983 for abetting U-Li in making a misleading statement to Bursa Malaysia in its Annual Report and Financial Statements for the financial year ended 31 December 2004Yue was at the material time the audit partner of Messrs Roger Yue, Tan & Associates which audited U-Li’s financial results for its financial year ended 31 December 2004. | Yue was charged at the Kuala Lumpur Sessions Court on 28 April 2009. On 9 January 2014, the Sessions Court ordered Yue to enter his defence to the charge.On 21 October 2015, the Sessions Court found Yue guilty under section 122B (b)(bb) read together with section 122C(c) of the Securities Industry Act 1983 and sentenced him to one year imprisonment and fine of RM400,000 (in default 6 months imprisonment). |
| 2. | Knowingly authorizing the furnishing of a misleading statement to Bursa Malaysia | Chin Keem FeungShukri bin Sheikh Abdul Tawab | Chin and Shukri, former Independent Non-Executive Directors of Transmile Group Berhad (TGB) who were also former members of TGB’s Audit Committee, were charged under section 122B(b)(bb) of the Securities Industry Act 1983 for knowingly authorising the furnishing of a misleading statement to Bursa Malaysia. The misleading statement was in relation to TGB’s revenue which was contained in TGB’s “Quarterly Report On Unaudited Consolidated Results For the Financial Year Ended 31 December 2006.” | Chin and Shukri were charged on 14 November 2007.On 28 October 2011, the Sessions Court found Chin and Shukri guilty under section 122B(b)(bb) of the Securities Industry Act 1983 and they were both sentenced to 1 year imprisonment and fine of RM300,000 (in default 6 months imprisonment).On 17 September 2015, the High Court affirmed the decision of the Sessions Court and dismissed the appeal by both Chin and Shukri.Both Chin and Shukri have filed an appeal to the Court of Appeal against their conviction and sentence. |
| 3. | Engage in an act which operates as a fraud in connection with the purchase of securitiesCriminal breach of trust | (Lybrand) Ngu Tieng Ung(Daniel) Wong Jit Kiang | 2 charges were preferred against Ngu Tieng Ung, director of Pancaran Ikrab Berhad (PIB) at the material time, for engaging in an act which operated as a fraud on PIB by utilising RM15.5 million of PIB’s funds to finance his purchase PIB shares when the money was not meant to be utilised for that purpose.Ngu was also charged for committing criminal breach of trust in respect of RM21.5 million of PIB’s funds.Ngu was also charged with an alternative charge to the 3 principal charges for committing criminal breach of trust involving RM37 million of PIB’s funds.Wong Jit Kiang was charged as an abettor to Ngu on all the aforesaid charges. | Ngu Tieng Ung and Wong Jit Kiang were charged on 5 May 2005.Wong Jit Kiang failed to attend court since 23 March 2009 and on 24 March 2010, the Sessions Court granted a discharge not amounting to an acquittal against him. A warrant of arrest is still pending against him.In October 2010, Ngu pleaded guilty to the two principal charges under the SIA and was sentenced to one day imprisonment and RM1 million fine for each charge. In August 2011 upon appeal, the High Court, set aside the conviction and sentence, and remitted the matter for a retrial to the Sessions Court.The retrial against Ngu commenced in January 2012. In August 2013, the Sessions Court ordered Ngu to enter his defence on the alternative charge of committing criminal breach of trust RM37 million of PIB’s funds.On 11 September 2015, the Sessions Court convicted Ngu of criminal breach of trust under s409 Penal Code and sentenced him to 6 years imprisonment and RM 1 million fine, in default 2 years imprisonment.Ngu has since filed an appeal to the High Court against his conviction and sentence. The Public Prosecutor has also filed an appeal against Ngu’s sentence. |
| Outcome of Criminal Prosecution Initiated – Persons Fined | ||||
| 1. | Criminal Breach of Trust (CBT) under s.409 Penal Code;In the alternativeAbetting Kiara Emas Asia Industries Berhad (KEAIB) in contravening a condition of the Securities Commission’s (SC) approval under s.32(6) Securities Commission Act (SCA) read together with section 40 and section 109 of the Penal Code | Tan Hooi Chong | Tan, was charged with criminal breach of trust in relation to the misappropriation of the rights issue proceeds of KEAIB amounting to RM16,937,739.20 on three occasions, between 16 to 31 December 1996.In the alternative, he was also charged with three charges of abetting KEAIB in contravening a condition imposed by the SC in its letter of approval dated 14 November 1996, in relation to the utilisation of KEAIB’s rights issue proceeds. | Tan was charged on 16 September 2004 at the Sessions Court Kuala Lumpur.On 10 November 2009, he pleaded guilty to the three alternative charges under s.32(6) SCA for contravening a condition imposed by the Securities Commission in its letter of approval dated 14 November 1996 in relation to the utilisation of KEAIB’s rights issue proceeds.On 23 March 2012, the High Court ordered the case to be re-tried at the Sessions Court on the ground that the plea was qualified.On 2 October 2015, upon a plea bargaining exercise pursuant to s.172C of the Criminal Procedure Code, he pleaded guilty to the three alternative charges.He was imposed with a fine of RM200,000 for each charge amounting to a total of RM600,000 for 3 charges (in default 6 months imprisonment for each charge). |
| 2. | Knowingly authorising the furnishing of false statements to Bursa Malaysia and causing the issuance of Inix Technologies Holdings Bhd’s prospectus containing false information. | Jimmy Tok Soon GuanMok Chin FanCheong Kok YaiNormah binti Sapar | Mok, Cheong & Jimmy (directors of Inix Technologies Holdings Bhd) were charged with 4 charges under s.122B(b)(bb) of the Securities Industry Act 1983 (SIA) for knowingly authorising the furnishing of false statements to Bursa Malaysia in relation to Inix’s 4 quarterly reports for FYE 31 July 2006; i.e. 31 October 2005, 31 Jan 2006, 30 April 2006 and 31 July 2006.In addition they were charged under s.55(1)(a) of the Securities Commission Act 1993 (SCA) for causing the issuance of Inix’s Prospectus, which contained information that is false. Normah (Senior Account Executive of Inix) was charged with abetting Jimmy in committing all the offences set out above. | On 29 September 2011, Mok, Cheong and Normah pleaded guilty to all the offences they were charged with. Jimmy pleaded guilty to all the offences he was charged with on 13 October 2011.For the 4 charges under s.122B of the SIA, Jimmy, the CEO and Executive Director of Inix at the material time, was fined as follows:
For the offence under s.55 of the SCA Jimmy was fined RM400,000 (in default 2 years imprisonment) Mok and Cheong were each fined RM50,000 (in default 6 months imprisonment) for each of the charges under s.122B of the SIA and RM125,000 (in default 1 year imprisonment) for the charge under s.55 of the SCA. Normah was fined RM50,000 (in default 6 months imprisonment) for each of the four charges under s.122B of the SIA and RM150,000 (in default 1 year imprisonment) for the offence under s.55 of the SCA. The SC appealed to the High Court against the sentence imposed by the Sessions Court. On 9 July 2013, the High Court dismissed the SC’s appeal. The sentence of fine was sustained. On 22 July 2013, the SC appealed to the Court of Appeal against the decision of the High Court. On 22 April 2015, the Court of Appeal allowed the SC’s appeal and imposed an imprisonment sentence in addition to the fine earlier imposed by the Sessions Court on all 4 individuals. Jimmy was sentenced to:
Mok, Cheong and Normah were sentenced to:
The COA decided that the imprisonment sentences imposed on all four individuals for the four charges under s.122B of the SIA were to run concurrently. Jimmy is to serve a total sentence of imprisonment of 18 months while Mok, Cheong and Normah are to serve a total sentence of 12 months imprisonment each. |
| Criminal Prosecution Initiated – Persons Charged | ||||
| 1. | Insider trading | Tan Swee Hock | Tan Swee Hock was charged with 28 counts of insider trading under section 188(2)(a) of the CMSA. He is alleged to have acquired 632,700 Transocean Holdings Berhad (THB) shares between 20 August 2009 and 6 November 2009 while in possession of inside information relating to the proposed take-over offer by Kumpulan Kenderaan Malaysia Berhad of THB shares. | Tan was charged on 8 December 2015. |
| 2. | Insider trading | Chan Sze Yeng | Chan Sze Yeng was charged under section 370(c) CMSA with 15 counts of abetting Tan Swee Hock in acquiring 379,100 Transocean Holdings Berhad (THB) shares between 9 September 2009 and 6 November 2009 while in possession of inside information relating to the proposed take-over offer by Kumpulan Kenderaan Malaysia Berhad of THB shares. | Chan Sze Yeng was charged on 8 December 2015. |
| 3. | Insider trading | Cheng Seng Chow | Cheng Seng Chow was charged under section 370(c) CMSA with 15 counts of abetting Tan Swee Hock in acquiring 379,100 Transocean Holdings Berhad (THB) shares between 9 September 2009 and 6 November 2009 while in possession of inside information relating to the proposed take-over offer by Kumpulan Kenderaan Malaysia Berhad of THB shares. | Cheng Seng Chow was charged on 8 December 2015. |
| 4. | Insider trading | Lim Kim Chuan |
Lim was charged with 11 counts of insider trading under section 188(2)(a) of the Capital Markets and Services Act 2007 (CMSA). He is alleged to have acquired 398,000 M3nergy Berhad (M3) shares through the accounts of Tay Hup Choon and Theng Boon Neoh between 6 August 2008 and 11 September 2008 while in possession of inside information. The SC alleged that the inside information referred to in the charges related to the Conditional Voluntary Take-Over Offer by Melewar Equities (BVI) Limited to acquire M3 shares. | Lim was charged on 24 November 2015.
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| 5. | Insider trading | Tay Hup Choon |
Tay was charged with 9 counts of abetting Lim Kim Chuan in committing insider trading under section 188(2)(a) read together with section 370(c) of the CMSA. He is alleged to have abetted Lim in having acquired 305,000 M3nergy Berhad (M3) shares between 6 August 2008 and 11 September 2008 while in possession of inside information. The SC alleged that the inside information referred to in the charges related to the Conditional Voluntary Take-Over Offer by Melewar Equities (BVI) Limited to acquire M3 shares. | Tay was charged on 24 November 2015.
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| 6. | Insider trading | Theng Boon Cheng @ Tan Boon Cheng |
Theng was charged with 11 counts of abetting Lim Kim Chuan in committing insider trading under section 188(2)(a) read together with section 370(c) of the CMSA. He is alleged to have abetted Lim in having acquired 398,000 M3nergy Berhad (M3) shares between 6 August 2008 and 11 September 2008 while in possession of inside information. The SC alleged that the inside information referred to in the charges related to the Conditional Voluntary Take-Over Offer by Melewar Equities (BVI) Limited to acquire M3 shares. | Theng was charged on 24 November 2015. |
| 7. | Insider trading | Amran Bin Awaluddin | Amran bin Awaluddin (Amran) was charged with 7 counts of insider trading under section 89E(2)(a) of the SIA. He is alleged to have acquired 309,100 Ranhill Power Berhad (RPB) shares between 27 July 2007 and 11 September 2007 while in possession of inside information relating to the proposed privatisation and de-listing of RPB. | Amran was charged on 31 July 2015 |
| 8. | Insider trading | Nooralina Binti Mohd Shah | Nooralina Binti Mohd Shah (Nooralina) was charged under section 89E(2)(a) read together with section 122C(c) of the SIA with 7 counts of abetting Amran Bin Awaluddin in acquiring 309,100 Ranhill Power Berhad (RPB) shares between 27 July 2007 and 11 September 2007 while in possession of inside information relating to the proposed privatisation and de-listing of RPB. | Nooralina was charged on 31 July 2015 |
| 9. | Furnishing false statement to Bursa Malaysia Securities Berhad | Alan Rajendram a/l Jeya Rajendram | Alan Rajendram was charged with one count of furnishing a false statement to Bursa Malaysia Securities Bhd under section 369(b)(B) of the Capital Markets and Services Act 2007 (CMSA).The false statement was alleged to have been made in an announcement on 29 December 2009 that Linear’s wholly owned subsidiary, LCI Global Sdn Bhd had accepted a RM1.6 billion construction project awarded by Global Investment Group (GIG) a Seychelles incorporated company, to design and construct a district cooling plant of 350,000 RT (refrigeration tonnes) in the district of Manjung, Perak, for what was termed the ‘King Dome Project’. | Alan Rajendram was charged on 9 July 2015. |
| 10. | Insider trading | Ramesh a/l Rajaratnam | Ramesh was charged with 3 counts of insider trading under section 188(2)(a) of the Capital Markets and Services Act (CMSA). He is alleged to have disposed of 10,200,800 Malaysian Merchant Marine Bhd (MMM) shares on 11 January 2010, 19 February 2010 and 22 February 2010 while in possession of inside information relating to the following:
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Ramesh was charged on 29 April 2015 |
| 11. | Insider trading | Ang Pok Hong | Ang was charged with 4 counts of insider trading under s188(2)(a) CMSA. She is alleged to have acquired 204,000 TH Group Berhad (TH Group) shares between 22 September 2008 and 25 September 2008 while in possession of inside information in relation to the proposed privatization of TH Group via a Selective Capital Repayment exercise. | Ang was charged on 5 February 2015. |
| 12. | Insider trading | Wong Soon Soon | Wong was charged with 3 counts of abetting Ang Pok Hong for committing insider trading under s370(c) read together with s188(2)(a) CMSA. She is alleged to have abetted Ang in having acquired 154,000 TH Group Berhad (TH Group) shares between 23 September 2008 and 25 September 2008 while in possession of inside information in relation to the proposed privatization of TH Group via a Selective Capital Repayment exercise. | Wong was charged on 5 February 2015. |
| 13. | Insider trading | Lei Lin Thai | Lei was charged with 53 counts of insider trading under s188(2)(a) CMSA. He is alleged to have acquired 2,766,600 TH Group Berhad (TH Group) shares between 5 June 2008 and 22 September 2008 while in possession of inside information in relation to the proposed privatization of TH Group via a Selective Capital Repayment exercise. | Lei was charged on 29 January 2015. |
| 14. | Insider trading | Chung Yin Mui | Chung was charged under s370(c) CMSA with 13 counts of abetting Lei Lin Thai in acquiring TH Group Berhad (TH Group) shares between 5 June 2008 and 5 August 2008 while in possession of inside information in relation to the proposed privatization of TH Group via a Selective Capital Repayment exercise. | Chung was charged on 29 January 2015. |
| 15. | Insider trading | Ng Lai Sim | Ng was charged under s370(c) CMSA with 11 counts of abetting Lei Lin Thai in acquiring TH Group Berhad (TH Group) shares between 18 June 2008 and 24 July 2008 while in possession of inside information in relation to the proposed privatization of TH Group via a Selective Capital Repayment exercise. | Ng was charged on 29 January 2015. |
| 16. | Insider trading | Wong Joon Moi | Wong was charged under s370(c) CMSA with 23 counts of abetting Lei Lin Thai in acquiring TH Group Berhad (TH Group) shares between 1 August 2008 and 11 September 2008 while in possession of inside information in relation to the proposed privatization of TH Group via a Selective Capital Repayment exercise. | Wong was charged on 29 January 2015. |
| 17. | Insider trading | Lau Sin Ling | Lau was charged under s370(c) CMSA with 6 counts of abetting Lei Lin Thai in acquiring TH Group Berhad (TH Group) shares between 15 September 2008 and 22 September 2008 while in possession of inside information in relation to the proposed privatization of TH Group via a Selective Capital Repayment exercise. | Lau was charged on 29 J |
