Koh Chin Heng, a Singapore citizen, was charged under Section 3(1) of the Futures Industry Act 1993 for operating a futures market which was neither a futures market of an exchange company nor an exempt futures market.
The offence was committed between 20 March 2003 and 27 May 2003 at Unique Mega Marketing Sdn. Bhd. (Company No.: 570371-M), Unit No. 12.08, Level 12, Amcorp Tower, Amcorp Trade Center, 18 Persiaran Barat, 46050 Petaling Jaya, Selangor Darul Ehsan.
SC had raided the company on 28 May 2003 after receiving complaints from several individuals who had lost their investments placed with Unique Mega Marketing Sdn. Bhd. (UMM).
The offence is punishable under Section 3(2) of the same Act, which carries a maximum fine of RM1 million or 10 years imprisonment or both.
The Court granted Koh Chin Heng bail at RM400,000 with one local surety.
