Enforcement Milestones in 2007

Civil Action against Operators of On-line Investment Scam

The SC, on 21 June 2007, filed a civil action seeking the following:

  • orders restraining the defendant from acting and/or holding out as fund managers and investment advisers
  • declaration that the defendant’s assets be restored to the investors.

On the same day, the following interim orders have been obtained by SC:

  • Mareva order freezing the assets of the defendants in Malaysia and overseas to preserve the assets until final determination by the court.
  • Order directing one of the defendants, Amir Hassan to transfer RM35 million in accounts overseas back to Malaysia.