PETALING JAYA: A former investment banker has been charged by the Securities Commission for defrauding investors into depositing monies amounting to RM201,000 for shares investment.
According to a statement issued by the capital markets regulator, it had also charged Ruwan Amaresh Shaun Ponniah, 35, with an offence relating to unlicensed capital market activities.
Ruwan was an associate director of Debt Capital Markets at CIMB Investment Bank when the offences took place between October 2018 and June 2020.
He faced 10 charges under section 179(b) of the Capital Markets and Services Act 2007 for falsely representing to seven individuals that he would invest their monies in shares listed on the Malaysian and foreign stock exchanges.
