Page 198 - SC Annual Report 2018 (ENG)

Securities
Commission
Malaysia
ANNUAL
REPORT
2018

Table 7
outcome of criminal trials and appeals in 2018

Nature of
No. Offender(s) Description
offence
1. • Holding out as Zamani Hamdan On 28 October 2011, Zamani, a director of Rantau Simfoni Sdn
a representative (Zamani) Bhd (Rantau Simfoni), was charged under section 59(1) of the
in respect of CMSA for holding himself out as a representative of a CMSL
a regulated holder to trade in futures contracts without a CMSRL.
activity without
licence

• Carrying on Zamani was also charged in the alternative for carrying on the
a business in business of trading in futures contracts without holding a CMSL,
a regulated through Rantau Simfoni, an offence under section 58(1) read
activity without together with section 367(1) of the CMSA.
licence
On 30 April 2013, the Sessions Court convicted Zamani on the
alternative charge and sentenced him to a fine of RM1 million (in
default, 1 year jail).

Zamani had filed an appeal to the High Court against the
conviction and sentence while the Prosecution filed an appeal
against the sentence.

The High Court, on 19 January 2017, dismissed Zamani’s appeal
against his conviction.

The High Court further enhanced the sentence by adding an
imprisonment sentence of 2 months while reducing the fine to
RM215,000 (in default, 4 months jail).

The SC has filed an appeal to the Court of Appeal against the
sentence imposed by the High Court.
The Court of Appeal, on 30 January 2018, struck out the appeal
against the sentence as the notice of hearing was not able to be
served on Zamani despite numerous efforts by the SC to locate him.
2. Engaged in an act Ismail Basir (Ismail) On 16 January 2018, Ismail was charged under section 87A(b) of
which operated as a the SIA and section 179(b) of the CMSA. Between August 2007
fraud in connection and November 2008, Ismail was alleged to have defrauded a sum
with the purchase of of RM350,000 from Koperasi Pelaburan Pekerja-Pekerja Proton
securities Bhd (KOPRO) in connection with the purchase of Proton Holdings
Bhd shares. Ismail was also alleged to have represented to KOPRO
that he was a remisier, when in fact he was never licensed by the SC.

On 28 February 2018, Ismail pleaded guilty to both charges and
was sentenced to 1 year imprisonment and RM1 million (in default
6 months imprisonment) for each charge. The jail terms are to run
concurrently.

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