KUALA LUMPUR: The Securities Commission Malaysia (SC) is investigating a syndicate suspected of running five unlicensed investment schemes, including two clone firm schemes, thathad duped hundreds of investors of more than RM7 million into unlicensed investment activities. "The SC also brought down the servers used by the syndicate to perpetrate the scams. According to the SC, initial investigations showed that the syndicate had been operating at least fiveunlicensed investment schemes since 2016, namely Amal Trust (also known as Wakala Ventures or AML Global), Asia Equity Ventures, Equity Global Business, Lindale Ventures, and Waheed Ventures (also known as Waheed Trading or Wadeed Global Ventures). Members of the public who have had dealings with these unlicensed schemes or their representatives are urged to come forward and provide relevant information to the SC by calling 012-6113519 or email aduan@seccom.com.my. It urged investors to verify the status of individuals or companies offering investing opportunities via the SC website at www.sc.com.my/regulation/licensing/licensed-and-registered-persons /www.sc.com.my/development/digital/list-of-registered-recognized-market-operators.

Source: The Star March 31, 2021 08:15 UTC