KUALA LUMPUR: The Securities Commission (SC) as we speak charged former funding banker Charles Chua Yi Fuan for deceiving seven buyers who suffered losses of practically RM1.67 million between July 2017 to May 2019.
Chua, previously Hong Leong Investment Bank Bhd debt markets vice-president, had represented to the victims that they had been investing in non-existent funding schemes involving subscription of securities, the SC stated in a press release on Friday.
Chua was introduced as we speak to 2 separate Sessions Courts in Melaka to face 13 charges below subsection 179(b) of the Capital Markets and Services Act 2007 (CMSA).
“The punishment for conviction of an offence below this subsection is an imprisonment time period not exceeding 10 years and a wonderful of not lower than RM1 million for every cost,” the SC stated.
The assertion said that the accused claimed trial to all of the charges most well-liked towards him.
Sessions Court choose Nariman Badruddin granted bail at RM300,000 with two sureties.
In one other court docket, Sessions Court choose Maziah Joary Mohd Tajudin granted bail at RM280,000, additionally with two sureties.
Both courts ordered Chua to report back to the SC’s investigating officer on a month-to-month foundation, the SC stated.
Chua beforehand confronted 4 charges on June 16, 2022 at two Kuala Lumpur Sessions Courts referring to related offences. He claimed trial to these charges.
The SC continues to remind buyers to train warning earlier than parting with their monies and when contemplating funding alternatives.
(*13*) are suggested to consult with the SC’s investor alert record of unauthorised web sites/platforms, funding merchandise, corporations and people.
(*13*) may also contact the SC’s client and investor workplace at 03-6204 8999, or e mail [email protected] for queries. – Bernama
