SC asks in­vestors of il­le­gal trad­ing scheme to make claims

The Sun (Malaysia) - - SPEAK UP -

PETALING JAYA: In­vestors of an il­le­gal fu­tures and eq­uity trad­ing scheme can get back their monies fol­low­ing ad­min­is­tra­tive sanctions im­posed against Ka­har Mohd Tahir, who was found to have car­ried out fund man­age­ment ac­tiv­ity with­out a li­cence.

Two other in­di­vid­u­als, Afkariah Md No­rani and Gur­deep Kaur Nathi Singh , were also found to have abet­ted Ka­har in the un­li­censed ac­tiv­ity, said the Se­cu­ri­ties Com­mis­sion Malaysia (SC) in a state­ment yes­ter­day.

The reg­u­la­tor, how­ever, did not name the scheme.

As at Sept 30 2016, about RM680,677 in Ka­har’s ac­count has been se­cured for the pur­pose of resti­tu­tion to el­i­gi­ble in­vestors.

In­ves­ti­ga­tion by SC found that the three in­di­vid­u­als had il­le­gally so­licited monies from the pub­lic be­tween July and De­cem­ber 2015, pur­port­edly to in­vest in a fu­tures and eq­uity trad­ing scheme.

“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. The claim form and more de­tails on the mat­ter can be found on SC’s web­site at,” it said.

Upon re­ceipt of the rel­e­vant claims, SC will de­ter­mine a rate of resti­tu­tion based on the avail­able funds, to­tal num­ber of claimants and the sums that are proved to have been in­vested at the ma­te­rial point of time.

In­vestors with queries re­gard­ing the resti­tu­tion process may con­tact the In­vestor Af­fairs and Com­plaints Depart­ment at 03-62048999 or ad­uan sec­

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