Investors of futures equity schemes can file for claims by Feb 6


  • Business
  • Tuesday, 08 Jan 2019

In a statement, the SC said that it has not authorised any ICOs pending the finalisation of its guidelines.

PETALING JAYA: The Securities Commission (SC) has urged those who had invested in two illegal futures and equity trading schemes to file their claims for restitution by Feb 6.

The first scheme is related to Kahar Mohd Tahir (IC number: 670215-01-6185), while the second scheme involved Mohd Faizal Jamaludin (IC number: 760405-01-5625), according to the regulator’s statement issued here yesterday.

“The SC’s investigation showed that the two had illegally solicited monies from the public between February and December 2015, purportedly to invest in a futures and equities trading scheme. They were found to have carried out fund management activities without a licence,” it said.

Following administrative sanctions imposed on the two individuals, restitution processes were initiated in October 2016 and April 2018 for Kahar’s and Faizal’s cases, respectively.

As of September 2018, a total of RM854,173.20 from the duo had been secured for the purpose of restitution to eligible investors. To date, the SC has disbursed RM744,844.30 to 25 affected investors.

Those who had invested in the schemes must submit their claims, together with necessary proof of investment to the SC before 5pm on Feb 6.

Upon receipt of the claims, the SC will determine the final amount of claim based on available funds and returns received by claimants (if any). The claim form and more details are available on the SC’s website at https://www.sc.com.my/regulation/enforcement/claim.


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