ENFORCEMENT ACTION
 |
2008 | |
2007 | |
2006 | |
2005 | |
2004 |
Criminal Prosecution Initiated in 2008
No. |
Nature of Offence |
Offender(s) |
Facts of Case |
Compound |
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| Criminal Prosecution Initiated – Persons charged | ||||||||||||||||||
| 1. | Holding out as a fund manager without a license | Phazaluddin bin Abu | Phazaluddin bin Abu was charged under section 15A of the Securities Industry Act 1983, where he was charged to have held himself out to be a fund manager without a license. He was alleged to have committed the offence through the internet website www.danafutures.com. The website, among others, purports that investments from the general public would be invested in securities.
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Phazaluddin was charged on 29 February 2008. |
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| 2. | Furnishing misleading statement to the SC and stock exchange | Ang Sun Beng Ang Soon An |
Ang Sun Beng and Ang Soon An, the former Managing Director and Executive Director of Welli Multi Corporation Berhad (WMCB), were both charged with four counts under s.122B(a)(bb) SIA 1983 read together with s.122(1) SIA 1983 for furnishing misleading statements in WMCB's annual report FYE 2005 and first 3 quarter report of FYE 2006 to the SC and Bursa Malaysia Securities Berhad. |
Ang Sun Beng and Ang Soon An were charged on 15 April 2008. |
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| Outcome of Criminal Prosecution - Persons Fined | ||||||||||||||||||
| 1. | Multiple IPO share applications | Gan Yew Chok | SC’s investigation found that Gan had used the identity cards of several individuals living in rural Kelantan when he applied for the IPO shares of Ulbon Berhad and Metrod (M) Berhad in 1995 and 1996. He made a profit of RM57,000 from the sale of these shares, when 11 of the multiple share applications he put in were successfully balloted. |
Gan pleaded guilty and was convicted of both offences and fined (in total) RM70,000, in default 6 months imprisonment. |
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| 2. | Acting as a fund manager’s representative without a licence | Siti Mariam bte Berahim | Siti Mariam acted as fund manager’s representatives for Perdana Technology Sdn Bhd (Perdana Technology) without a licence. | Siti Mariam and Dr. Barjoyai were both convicted of the offences on 13 March 2008. On 25 March 2008, the Sessions Court fined Siti Mariam RM50,000, in default 6 months imprisonment and Dr. Barjoyai RM100,000 in default 8 months imprisonment. The Accused and Prosecution have respectively filed an appeal against the sentence at the High Court. |
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| Engaging unlicensed persons to carry out the activities of a fund manager’s representative | Dr. Barjoyai Bardai | Dr. Barjoyai, a director of Perdana Technology Ventures Sdn Bhd, had breached a condition of Perdana Technology Ventures’s fund manager’s licence by allowing two unlicensed persons to act as the company’s fund manager’s representative. | ||||||||||||||||
| 3. | Operating an illegal futures market |
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Jomi, Kong, Henny and Emorevest operated an illegal futures market at the premises of Emorevest Sdn Bhd. |
On 28 May 2008, all 4 accused persons pleaded guilty and were convicted for the offence. The Court had imposed sentence as follows:-
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| Outcome of Criminal Prosecution - Persons Acquitted | ||||||||||||||||||
| 1. | Submission of false statement to the SC in connection with proposal submitted | Tan Siew Hui | Tan, the Group Financial Controller of TCL Premier Holdings Bhd, had caused a letter dated 6 January 1997 that contained false information to be submitted to SC. | Tan was acquitted and discharged by the High Court on 6 March 2008. Prosecution has filed an appeal against the decision acquittal at the Court of Appeal. This matter is currently pending appeal. |
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