SHAH ALAM: Datuk Soh Chee Wen was fined RM6 million yesterday — the highest in recent years — after admitting to two counts of making false statements to the Kuala Lumpur Stock Exchange 10 years ago.The 45-year-old businessman paid RM2 million hours later with the rest to be settled before July 16.
Soh had pleaded guilty to two alternative charges of conspiring to provide false statements to the KLSE. He also faced a third alternative charge.
He admitted to conspiring with Datuk Tony Tiah Thee Kian in providing false statements to the stock exchange pertaining to 44,592,000 shares of Omega Holdings Bhd, between Sept 2, 1997 and Jan 12, 1998.
Sessions Court judge Azimah Omar fined him RM3 million, in default 30 months’ imprisonment, on each charge.
Soh also admitted guilt to the second of two principal charges of defrauding the now-defunct Omega Securities Sdn Bhd of RM95,972,375. The other charge involved RM424,930,597.50.
Azimah took Soh’s admission of guilt in the alternative charges and the principal charge in sentencing.
Earlier in mitigation, his counsel, Ng Aik Guan, had urged the court to impose a non-custodial sentence besides applying for the fines to be paid in three instalments within six months.
He said Soh had shown remorse as he had pleaded guilty at an early stage of the trial.
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