CCTV company directors fined RM325,000 each for false declaration


  • Nation
  • Friday, 30 Sep 2011

KUALA LUMPUR: Two executive directors of a company offering closed circuit TV (CCTV) services were fined a total of RM325,000 each by the Sessions Court here after they pleaded guilty to five counts of publishing prospectus containing false information.

An accounts executive of the company, Inix Technologies Holdings Bhd (ITHB), was fined a total of RM350,000 for the same offences and for failing to turn up for an oral examination by an investigating officer of the Securities Commission.

Directors Mok Chin Fan, 53, and Cheong Kok Yai, 51, were fined RM125,000 each, in default a year’s jail, for causing the issuance of the ITHB prospectus which contained false information about the revenue for a six-month period that ended on Jan 31, 2005.

On four charges of furnishing false financial statements, Mok and Cheong were fined RM50,000 on each charge, in default six months’ jail.

Senior accounts executive Normah Sapar, 37, admitted approving and assisting the publication of false information on company profits.

She faced four charges of abetting in the furnishing of a false statement to Bursa Malaysia and another charge of abetting in the issuance of the ITHB prospectus which contained false information.

Sessions Court judge Datuk Jagjit Singh ordered that they be jailed for a year if they failed to pay the fines.

They were charged under Section 122B(b)(bb) of the Securities Industry Act 1983 which provides for a maximum fine of RM3mil and a jail term of up to 10 years.

Prosecuting officers Geethan Ram Vincent, R. Araasu, Munira Masood and Edzuan Ezzany, who are all from the Securities Commission prosecuted while counsels Kamarul Hisham, J. Kuldeep Kumar and Lim Kon Keen represented the three accused.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3
Subscribe now to our Premium Plan for an ad-free and unlimited reading experience!
   

Next In Nation

Ex-bank officer jailed 10 years for trafficking his wife
Toll payments on DASH to start from 12.01am Dec 1, cars to pay RM2.30
Sabah teacher acquitted of cheating charges
King attends second day of 260th meeting of Conference of Rulers
Covid-19: Selangor records average of six deaths a week from Jan 1 to Nov 19, 2022
Police seize 243kg ketum leaves with arrest of man at KL-Karak highway
Sabah hopes for better healthcare under new Federal Govt
Not right to send police after PM's critics, says Lawyers for Liberty
Negri recorded 8,748 TNB meter tampering cases amounting to RM93mil from 2018 to Oct 2022
Consumers in Kelantan owe AKSB RM28.5mil in arrears

Others Also Read