All the kaki goreng, becareful ...share go up 1 sen MUST SELL. BECAUSE SC THE PARIAH GOING AFTER SHARE MOVING, INSTEAD OF GOING AFTER DIRECTORS WHO CURI CURI COMPANY FUND. ONE CEPAT COMPANY DIRECTOR SIPHON OF 10 MILLIONS MANY YEARS AGO VIA CHEQUE ISSUED TO DIRECTORS, DONT SEE SC JAILING OR KENA FINE . NOT A SINGLE DIRECTOR GO TO JAIL. THIS IS A FACT. THE CAPITAL MKT HAS BECOME CURI CURI MKT BY DIRECTORS. SC HAS TURNED THE MKT INTO PRINTING MORE SHARES TO CON THE PUBLIC
In a statement yesterday, the Securities Commission (SC) said the High Court had ruled in favour of the capital market regulator against six foreign defendants in the manipulation case, thus ending the civil suit filed by the SC in 2008.
The outcome yesterday followed the High Court’s earlier decision in June in favour of the SC against another defendant in the suit, Richard Benjamin Cohen, for his role in the same case.
Cohen, a former research analyst at Aeneas Capital Management LP, was also ordered to pay the SC RM50,000 in costs.
Effectively, Cohen, together with the six defendants in the case, namely Aeneas Capital Management LP, Priam Holdings Ltd, Aeneas Portfolio Company LP, Acadian Worldwide Inc, Thomas. Grossman and John Suglia, would be barred from trading in any counter on Bursa.
All seven defendants were found to have conspired to manipulate the share price of Iris in breach of sections 84(1), 85(1)(a) and 87A of the Securities Industry Act 1983.
Iris, a manufacturer of smart cards for electronic passports and electronic identification cards was at the material time listed on Bursa. The company is still listed on the stock exchange.
The SC said that the defendants had colluded in the manipulation of the Iris shares over a period of 44 days.
The manipulation had caused the price of the shares to rise from eight sen to a closing high of RM1.36 per share with an average of 200 million shares being traded daily over that period
