The Securities Commission Malaysia today charged Muhamad Fadzli Jamaludin (Fadzli), a former director of Kyaputen Sdn Bhd, for three offences related to unlicensed capital market activities.
Fadzli, 33, was charged at Kuala Lumpur Criminal Sessions Court this morning, for holding himself out as carrying on a business in fund management without a license. This is an offence under section 58(1) of the Capital Markets and Services Act 2007 (CMSA) which carries a maximum fine of RM10 million or imprisonment for a term not exceeding 10 years, or both.
The SC said Fund management is a regulated activity as set out in Schedule 2 of the CMSA and any person carrying out this activity is required to be licensed. The alleged offences took place between November 2018 and April 2020 in Kuala
Lumpur and Melaka.
Fadzli claimed trial to all three charges. Sessions Court judge Datin Sabariah Othman granted bail at RM80,000 with one surety for all three charges. In addition, he was also ordered to surrender his passport to the court and report to the SC on a monthly basis until the completion of the trial.
