KUALA LUMPUR: The Court of Appeal has struck out the appeal by Ashari Rahmat against his conviction and sentence for swapping successful balloted envelopes in the initial public offering (IPO) of UPA Corp Bhd shares, with those that did not go through the process at the Malaysian Issuing House (MIH) on Feb 15-16, 1997.
Ashari was an operations manager with MIH, an issuing house in charge of handling the balloting of IPOs during the material time, said the Securities Commission in a statement yesterday.
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