KUALA LUMPUR: A former investment bank has been charged by the Securities Commission for defrauding investors into depositing monies amounting to RM201,000 for shares investment.
Ruwan was an associate director of Debt Capital Markets at CIMB Investment Bank when the offences took place between October 2018 and June 2020. Ruwan also faced one charge under section 58 CMSA for holding himself out as carrying on a business in fund management without being licensed or a registeredAccording to the SC,fund management is a regulated activity under Schedule 2 of the CMSA, thus anyThe offence carries a maximum fine of RM10mil or imprisonment for a term not exceeding 10 years or both, if convicted.
The SC urged the public to refer to the SC Investment Checker, a one-stop portal available on the SC’s website -