PETALING JAYA: The Securities Commission Malaysia (SC) has charged a former unit trust consultant (UTC), Nadihah Nawi, at the Kuala Lumpur Sessions Court for offences relating to securities fraud involving purported unit trust investments.
In a statement, the SC said Nadihah, 34, faced two charges jointly with another individual who is currently at large, under section 179(b) of the Capital Markets and Services Act 2007 (CMSA), read together with section 34 of the Penal Code.
“She was charged with defrauding two investors of RM20,000 by representing to them a unit trust investment in Kenanga Investors Bhd (KIB). The offences took place between January and June 2022 in Kuala Lumpur.
“The monies deposited by the investors were instead utilised for Nadihah's own unit trust investments in KIB. Nadihah was a UTC with Principal Asset Management Bhd at the material time.”
The SC said Nadihah claimed trial to both charges before Sessions Court judge Tuan Izralizam Sanusi and was granted bail of RM70,000 with two local sureties.
The court also imposed an additional bail condition for the Accused to report to the SC’s investigating officer at the SC office in Kuala Lumpur on a monthly basis.
“The court however did not order for the surrender of Nadihah’s passport as it had already expired in 2023.”
If convicted, Nadihah faces a jail term not exceeding 10 years and a fine of not less than RM1mil.
