A FORMER remisier with OCBC Securities was fined a total of $120,000 on three charges of using clients' securities accounts to trade for the benefit of then Citiraya Industries' chief executive officer and director.

Chia Hock Joo, 50, who pleaded guilty on Friday, had conducted trades for the benefit of Ng Teck Lee, then CEO and director of Citiraya Industries - now renamed Centillion Environment and Recycling - in seven OCBC Securities securities trading accounts belonging to four clients.

The offences took place in 2004 and 2005.

Chia knew that the four clients had lent their securities trading accounts to Ng, who is on the run, to trade and that the securities company did not permit such practices.

Four other similar charges under the Securities and Futures Act were taken into consideration.