10/11/2023 (Malaysia) - The Securities Commission Malaysia (SC) has today pressed charges against a former director of Kyaputen Sdn Bhd, Muhammad Fadzli Jamaludin, aged 33, for three counts related to unlicensed capital market activities.
Fadzli faced these charges in the Kuala Lumpur Sessions Court for allegedly running a fund management business without a proper license. The alleged offenses took place between November 2018 and April 2020 in Kuala Lumpur and Melaka.
These charges are pursuant to Section 58(1) of the Capital Markets and Services Act 2007 (CMSA), which carries a maximum fine of RM10 million or imprisonment for up to 10 years, or both.
Pleading not guilty to all charges, Fadzli was granted bail set at RM80,000 with one surety for all three charges. He was also ordered to surrender his passport to the court and to report monthly to the SC until the trial's conclusion.
The SC cautions investors to be vigilant when considering investment opportunities. It maintains an updated Investor Alert List to help the public identify unlicensed platforms, companies, or individuals.