14-05-2007: Soh Chee Wen fined RM6m for abetment in false reporting
Businessman Datuk Soh Chee Wen was fined a total of RM6 million on May 14 after he pleaded guilty to two alternative charges of abetting Datuk Tony Tiah Thee Kian in submitting false information to the Kuala Lumpur Stock Exchange (KLSE), now known as Bursa Malaysia.
With the conviction, Soh will be automatically disqualified from acting as a director of a company under section 130 of the Companies Act 1965 for five years.
The Securities Commission said on May 14 that the false reporting related to reporting of the transaction involving 7.75 million Omega Holdings Bhd (OHB) shares and 7.75 million OHB-A shares.
The prosecution adduced facts which showed that between September and October 1997, Tiah and Soh had agreed to transact the said shares at RM6.45.
However, TA Securities Sdn Bhd had reported these transactions to be at RM11.60 and RM9.55 per share respectively, involving only 4.31 million OHB shares and 5.23 million OHB-A shares.
No comments:
Post a Comment