No. | Nature of Offence | Offender(s) | Facts of Case | Outcome of Case |
---|---|---|---|---|
Outcome of Criminal Trials and Appeals | ||||
1. | Abetting the furnishing of a false statement to Bursa Malaysia Securities Berhad | Lee Koon Huat |
Lee Koon Huat, the former Adviser to the Board of Directors of Axis Incorporation Berhad (“Axis”) was charged on 26 March 2013 with four counts of abetting 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’ Condensed Consolidated Income Statements for the four quarters in its financial year 2007. |
On 11 April 2022, after a full trial, the Kuala Lumpur Sessions Court convicted Lee of all 4 charges against him. He was sentenced to 6 months’ imprisonment and a fine of RM200,000 (in default, 6 months’ imprisonment) for each of the four charges.
The court ordered that the imprisonment terms be served concurrently. The court also ordered a stay of execution of the jail term pending Lee’s appeal to the High Court. |
2. | With intent to deceive, furnished a misleading statement to Bursa Malaysia | Gan Boon Aun (Gan) |
Gan, former Chief Executive Officer and Executive Director of Transmile Group Berhad (Transmile) was charged for abetting Transmile in making a misleading statement relating to Transmile’s revenue in the company’s Quarterly Report on Unaudited Consolidated Results for the Financial Year ended 31 December 2006 which was likely to induce the purchase of Transmile’s shares by other persons, an offence under section 86(b) read together with section 122C(c) of the Securities Industry Act 1983 (SIA).
Gan was also charged in alternative with intent to deceive, furnished a misleading statement to Bursa Malaysia in the same financial statement, an offence under section 122B(a)(bb) read together with section 122(1) of the SIA. |
On 12 July 2007, Gan was charged with the principal charge under section 86(b) read together with section 122C(c) of the SIA.
On 26 May 2008, Gan was charged in the alternative under section 122B(a)(bb) read together with section 122(1) of the SIA.
On 6 December 2017, Gan filed an appeal to the High Court and simultaneously filed a motion for revision to the High Court on 15 December 2017.
On 15 January 2018, the High Court dismissed Gan’s motion for revision. On the very same day, Gan filed an appeal to the Court of Appeal.
|
No. | Nature of Offence | Offender(s) | Brief Facts of Case | Date Charged |
---|---|---|---|---|
Criminal Prosecution Initiated – Person(s) Charged | ||||
1. | Derivatives fraud, unlicensed activities and failure to appear before the SC’s Investigating Officer | Mohd Azhidi Bin Laili (Azhidi) |
Azhidi was charged with 9 counts of offences under subsection 206(b) of the Capital Markets and Services Act 2007 (“CMSA”) by engaging in an act which operated as a deception on 9 individuals by causing them to deposit a total sum of RM1,450,000.00 into the “Client Segregated Accounts” held by AmFutures Sdn Bhd for the purpose of a purported investment in futures crude palm oil which in fact did not exist.
|
Azhidi was charged on 14 February 2022 at the Kuala Lumpur Sessions Court. |