Civil Action in 2013
No. Breach Defendants Brief facts of the case
  • Breach of the Guideline on Compliance Function for Fund Managers.
    [Section 360 CMSA]
  • Fraudulently inducing persons to deal in securities.
    [Section 87 (1) of the SIA and Section 178(1) of the CMSA]
  • Carrying out a regulated activity without a licence.
    [Section 15A SIA/Section 58 CMSA and Section 15B SIA and Section 59 of the CMSA]
  • RBTR Asset Management Bhd (RBTR)
  • Locke Guaranty Trust Limited, New Zealand (LGT)
  •  Locke Capital Investments Ltd, British Virgin Island (LCI)
  • Al Alim bin Mohd Ibrahim
  • Valentine Khoo
  • Isaac Paul Ratnam
  • Nicholas Chan Weng Sung
  • Joseph Lee Chee Hock
On 23 January 2013, the SC filed a civil action against RBTR Asset Management Bhd (RBTR) and seven other defendants for various breaches of the securities laws. The SC is seeking, among others:
  • An order that the defendants make restitution of RM13.35mil to the Euro Deposit Investment (EDI) scheme investors who had not been repaid their investments;
  • An order that the defendants’ assets be traced and paid over to the SC for purposes of compensating the EDI scheme investors;
  • An order that two of the defendants, Al Alim bin Mohd Ibrahim (Al Alim) and Valentine Khoo be barred from being a director of any public listed company for a period of 10 years;

At the material time, Al Alim and Valentine Khoo were directors of RBTR and holders of the SC’s Fund Manager’s Representative Licence.

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