SC advises victims of illegal futures, trading scheme to file claims

In a statement yesterday, the SC said the measures aim to ensure that cyber risk is managed in an optimised manner, in light of the changing landscape in the market.

KUALA LUMPUR: The Securities Commission (SC) has urged victims of an illegal futures and equity trading scheme to file their claims by Nov 25 after action was taken against  Kahar Mohd Tahir.

The SC said on Wednesday it had started the restitution process following administrative sanctions imposed against Kahar who was found to have carried out fund management activity without a licence. 

Two other individuals, Afkariah Md Norani and Gurdeep Kaur a/p Nathi Singh, were found to have abetted Kahar in the unlicensed activity.
 
The SC said as at Sept 30, 2016 about RM680,677 in Kahar’s account had been secured for the purposes of restitution to eligible investors.
 
“Investigation by SC found that these three individuals had illegally solicited monies from the public between July and December 2015, purportedly to invest in a futures and equity trading scheme,” it said.

The SC said investors who had invested in a futures and equity trading scheme with Kahar, Afkariah or Gurdeep between July and December 2015 are urged to submit their claims, together with necessary proof of investment, to SC before 5pm on Nov 25, 2016.