The Securities Commission Malaysia (SC) charged Mohd Azhidi bin Laili on February 14, 2022 for breaching various provisions under securities laws for engaging in unlicensed activities and deceiving nine investors of approximately RM1.45 million of their monies between May 2013 and March 2014.
Azhidi represented to the nine victims that they were investing in a futures crude palm oil investment scheme under AmFutures Sdn Bhd, when in fact such scheme did not exist in AmFutures Sdn Bhd.
In addition, the SC also charged Azhidi for holding out as a representative of AmFutures Sdn Bhd without a Capital Markets Services Representative’s Licence, an offence under subsection 59(1) of the CMSA. The offence is punishable with an imprisonment term not exceeding five years or a fine not exceeding RM5 million, or both.
Azhidi also faced another charge under the subsection 134(5)(a) of the Securities Commission Malaysia Act 1993 for failing to comply with SC’s Notice to appear before the SC’s Investigating Officer on 13 February 2018. If convicted, the accused faces an
imprisonment term of not exceeding five years or a fine of not exceeding RM1 million.
The Sessions Court judge Kamarudin Kamsun granted bail at RM250,000 with two sureties. In addition, the accused was ordered to surrender his passport to the court and required to report to the SC’s Investigating Officer on a monthly basis until the completion of the trial.
The SC reminds investors to exercise caution when considering investment opportunities through various anti-scam awareness campaign. The SC’s Investor Alert List is constantly updated to guide the public to identify unauthorised/unlicensed platforms, companies or individuals.
