So, Megan Media Holdings Bhd (KLSE: MEGAN, stock-code 7101) executive chairman Datuk Mohd Adam Che Harun knew the worms are crawling out from the can and he decided to dispose in lightning speed a total of 6.26 million warrants of the company between April 25 and May 4, before the accounting irregularities are made public. If this is not a classic example of insider trading, I do not know what is.
Looking forward, what will the authorities do against this individual who was suppose to protect and bring value to shareholders but acted otherwise? Would the authorities issue some sort of legal actions to prevent him from flying out of the country? If not, why not? If there’s a case (obviously there is) against this executive chairman, then what is holding the authorities back? Waiting for permission from the highest authority who might be tens of ladders up the hierarchy in the chain of power?
But then such insider trading might be viewed to be less dangerous and of no public concern compares to the 19-year-old boy who lost but forgotten his identity card (IC) number and was put in prison for more than 6 months. Perhaps it’s true that you should commit a big (the bigger the better) crime instead of some little minor crimes. Furthermore the bigger the crime, the more respect the authorities might have on you.
Other Articles That May Interest You …
- Stock Market Criminals – NATO, No-Action-Talk-Only
- MEGAN Overtook TRANSMILE for Gold Medal
- Listed Co Not Trustable – Book-Cooking from Day-1
- Widespread Accounting Crisis – Government Equally Responsible
|
|
August 8th, 2007 by financetwitter
|
|
|
|
|
|
|
Comments
hello mr tee,
glad to know my articles could be of use to you … also glad to know you’ll vote “wisely” on the coming general election …
hope there’s still hope for the 20+ million population in malaysia …
cheers
Very good article. Good work. I think the main point is that one has money to hire lawyer & one don’t! 🙂
thanx zentrader … that’s exactly the point … hope all the readers will think twice about committing “crime” …
cheers
Thanks for the article.
You are right. Better to commit a big crime than a small one, at least no jail term for the former.
I indeed very much angry what have been happening to our Malaysian society, sort like they (the hopeless ruling government) don’t really care about us any no more.
I wish I can do something for that. Well, at least now I know where shall I cast my precious vote in the coming election.
Stocktube, keep it up writing good articles. I, not only enjoy your thoughts on stocks but also the socio-political articles.