PITY DR BARDAI - MY SINCERE SYMPATHY

Economist-director Bardai fined RM100k for using unlicensed agents
By : Lydia Gomez

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KUALA LUMPUR, Tues:

An economist-cum-director was fined by the Sessions Court RM100,000 or eight months’ jail after he pleaded guilty to illegally allowing two people to act as representatives of his company's fund manager.

Dr Barjoyai Bardai, 55, as the director of Perdana Technology Venture Sdn Bhd (PTV), was charged in Sept 2002 with appointing Nublan Zaky Yusoff, 38, and Siti Mariam Berahim, 36, as agents although they did not have a licence from the Securities Commission.

Barjoyai who is also a part-time economics lecturer at a local university, allegedly committed the offence at the PTV office, D-2-1, 2nd Floor, Block D, The Mines Waterfront Business Park 3, Jalan Tasik, The Mines Resort City, Seri Kembangan, near here between April 14, 1997, and March 3, 1998.

Barjoyai was charged under the Securities Industry Act 1983 (Act 280). The offence is punishable with a maximum RM1 million fine or five years' jail or both.

Siti Mariam who also pleaded guilty to acting as the company’s fund manager was fined RM50,000 or six months’ jail. Nublan Zaky was fined RM600,000 or a year's jail on Sept 23, 2004, after he pleaded guilty to an amended charge

Judge Akhtar Tahir, in delivering the sentence said the offence involved the interest of investors who were members of the public. “At one glance, this does not seem serious, but on a closer look, it is serious as the court must protect the interest of the public, who in this case are the investors,” he said.
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