Securities Commission probes syndicate suspected of running five unlicensed investment schemes | Malay Mail

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Securities Commission probes syndicate suspected of running five unlicensed investment schemes | Malay Mail
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KUALA LUMPUR, March 31 — The Securities Commission Malaysia (SC) is investigating a syndicate suspected of running five unlicensed investment schemes, including two clone firm schemes, that had duped hundreds of investors of more than RM7 million into unlicensed investment activities. The capital...

Wednesday, 31 Mar 2021 04:28 PM MYT

The capital markets regulator said it recently raided several locations in Kuala Lumpur and seized records and devices used by the syndicate, following complaints and tip-offs from the public. According to the SC, initial investigations showed that the syndicate had been operating at least five unlicensed investment schemes since 2016, namely Amal Trust , Asia Equity Ventures, Equity Global Business, Lindale Ventures, and Waheed Ventures .

 

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