SC asks investors of illegal trading scheme to make claims

PETALING JAYA: Investors of an illegal futures and equity trading scheme can get back their monies following administrative sanctions imposed against Kahar Mohd Tahir, who was found to have carried out fund management activity without a licence.
Two other individuals, Afkariah Md Norani and Gurdeep Kaur Nathi Singh , were also found to have abetted Kahar in the unlicensed activity, said the Securities Commission Malaysia (SC) in a statement yesterday.
The regulator, however, did not name the scheme.
As at Sept 30 2016, about RM680,677 in Kahar’s account has been secured for the purpose of restitution to eligible investors.
Investigation by SC found that the three individuals had illegally solicited monies from the public between July and December 2015, purportedly to invest in a futures and equity trading scheme.
“Investors who had invested in a futures and equity trading scheme with Kahar, Afkariah or Gurdeep between July and December 2015 are urged to submit their claims, together with necessary proof of investment, to SC before 5pm on Nov 25. The claim form and more details on the matter can be found on SC’s website at www.sc.com.my/claim,” it said.
Upon receipt of the relevant claims, SC will determine a rate of restitution based on the available funds, total number of claimants and the sums that are proved to have been invested at the material point of time.
Investors with queries regarding the restitution process may contact the Investor Affairs and Complaints Department at 03-62048999 or aduan@seccom.com.my