Round-the-clock breaking news from Malaysia.
A former bank analyst has been sentenced to three years imprisonment by the Kuala Lumpur Sessions Court for conducting unlicensed securities activities and fraudulently using a unit trust consultant title without proper authorisation from regulators.
Three brothers have been charged across separate Sessions Court proceedings in Kuala Lumpur for conducting unauthorised capital market activities, marking the Securities Commission's latest enforcement effort against illicit financial operations.
The Securities Commission Malaysia has charged three brothers at separate Kuala Lumpur courts for operating unlicensed securities dealing businesses between March and October 2019, with convictions carrying fines up to RM10 million or decade-long prison sentences.
A former company director has been sentenced to five years imprisonment by the Kuala Lumpur Sessions Court for operating unlicensed fund management services and laundering money. The conviction involved six victims who collectively lost RM1.263 million between 2018 and 2020.
Malaysia's Court of Appeal has upheld a RM28 million judgment against Singaporean businessman Chan Cheh Shin, finding he actively promoted fraudulent investment schemes through seminars and roadshows targeting investors.
A Malaysian High Court has ordered an investment holding firm to pay RM12.8 million to 39 investors after failing to deliver preferred stock and guaranteed dividends, rejecting arguments that corporate law provisions shielded it from liability.
Malaysia's High Court has frozen approximately RM14 million in assets controlled by East West Group through a domestic Mareva injunction, ensuring funds remain available should investors succeed in their pending civil case.
Nearly 1,700 British investors have filed a High Court lawsuit against cryptocurrency exchange Binance, alleging the platform promoted unregulated financial products in 2019-2020. The claimants are seeking £150 million in compensation.