KUALA LUMPUR: The Securities Commission (SC) has charged Mohd Azhidi Laili for breaching numerous provisions beneath securities legal guidelines for participating in unlicensed actions and deceiving 9 investors of roughly RM1.45mil of their monies between May 2013 and March 2014.
In an announcement, SC mentioned Azhidi represented to the 9 victims that they had been investing in a futures crude palm oil funding scheme beneath AmFutures Sdn Bhd, when actually such scheme didn’t exist in AmFutures Sdn Bhd.
In July 2021, the SC obtained a warrant of arrest in opposition to Azhidi when all SC’s makes an attempt to find him since 2015 failed.
Azhidi was arrested on Feb 12, 2022. He was dropped at the Kuala Lumpur Sessions Court this morning to face 9 charges beneath subsection 206(b) of the Capital Markets and Services Act 2007 (CMSA).
If discovered responsible, he faces an imprisonment time period of not exceeding 10 years and a effective of not lower than RM1mil.
In addition, the SC additionally charged Azhidi for holding out as a consultant of AmFutures Sdn Bhd and not using a Capital Markets Services Representative’s Licence, an offence beneath subsection 59(1) of the CMSA.
The offence is punishable with an imprisonment time period not exceeding 5 years or a effective not exceeding RM5mil, or each.
Azhidi additionally confronted one other cost beneath subsection 134(5)(a) of the Securities Commission Malaysia Act 1993 for failing to adjust to SC’s Notice to look earlier than the SC’s Investigating Officer on Feb 13, 2018.
If convicted, the accused faces an imprisonment time period of not exceeding 5 years or a effective of not exceeding RM1mil.
The Sessions Court choose Kamarudin Kamsun granted bail at RM250,000 with two sureties.
In addition, the accused was ordered to give up his passport to the courtroom and required to report back to the SC’s investigating officer on a month-to-month foundation till the completion of the trial.
“The SC reminds investors to exercise caution when considering investment opportunities through various anti-scam awareness campaigns,” it mentioned.
