Representing the victims, Malaysian International Humanitarian Organisation secretary-general Datuk Hishamuddin Hashim said he hoped that the additional statements would help SSM.“With reference to Section 27A of the SSM Act, which provides for enforcement and investigative powers, the registrar shall have all the powers of a police officer in all matters provided for in the proceedings.
According to Hishamuddin, company directors who operate investment schemes without registering with the SSM under the Interest Schemes Act may be subject to a maximum fine of RM50 million or a jail term of up to 10 years. Most of the victims admitted that they became interested in the investment schemes after the companies used the names of celebrities, royals, former government officials and religious figures who were later found not to be involved in the schemes.
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