Illegal Futures Trading Scheme: Frequently Asked Questions - Illegal Futures Trading Scheme Investor Restitution Update

Illegal Futures Trading Scheme: Frequently Asked Questions

What are the facts of the case?
On 28.3.2011, it came to SC’s knowledge that an illegal futures trading scheme was being conducted which involved the purported trading of crude palm oil futures (“Illegal Scheme”). Our investigations resulted with our instituting a civil action against seven individuals named below:
Ahmad Fauzi bin Ambran (NRIC Number: 770709-08-5605)
Ahmad Nazmi bin Mohamed (NRIC Number: 850521-03-5243)
Mohd Shahrul Firdaus bin Zakaria (NRIC Number: 851220-08-5049)
Mohd Khalid bin Sujud (NRIC Number: 870516-01-5609)
Fakhrul Arif bin Ahmad Husni (NRIC Number: 880526-08-6063)
Fakhrul Mukmin bin Ahmad Husni (NRIC Number: 840922-08-5891)
Fakhrul Razi bin Ahmad Husni (NRIC Number: 910727-08-6013)
(Collectively referred as “the Defendants”)

The Defendants were reported to have induced members of the public to invest in the Illegal Scheme by promising returns of 2% per month (24% per annum).
What actions have Securities Commission Malaysia (SC) and other authorities taken to stop the Scheme from operating?
On 6.4.2011, the SC instituted civil action against the Defendants by filing an injunction to freeze monies in the trading accounts of the Defendants with a view to protect the public from the fraud perpetuated by the Defendants. SC successfully obtained the order on 13.6.2011. On 8.8.2012, a consent judgement was entered into between the Defendants and the SC in Kuala Lumpur High Court suit no. 22NCC-1636-10/2011.
Are any of the monies belonging to the defendants held by the SC?
Yes. Pursuant to the order dated 13.6.2011, the SC froze the Defendants’ trading accounts and took custody of the monies belonging to investors which amounted to RM665,069.48.
Who is eligible to be compensated from the money which the SC recovers?
Eligible persons would be individuals who had invested in the Illegal Scheme carried out by the Defendants from Oct 2010 to June 2011. It is important that claimants are able to submit sufficient proof of the amounts that they had invested. All claims must be accompanied with the relevant supporting documents and the duly completed claim form available at www.sc.com.my/claim. Please include the following with your claim form:
The duly executed claim form;
A copy of your NRIC; and
All relevant supporting documents (Example: proof of payment such as bank deposit slips, credit card payment slips, proof of telegraphic transfer via internet banking or ATM).

The SC shall have the absolute discretion to approve or reject the submitted claims, based on the terms of the High Court order dated 8.8.2012.
How will the SC know who is eligible to make claims?
The SC will collate a list of individuals who have suffered loss as a result of this Illegal Scheme. It is important therefore for claimants to provide the relevant details and documents to the SC within the stipulated time frame.
If I had previously submitted a complaint and provided supporting documents, will I need to resubmit the information again after the SC places the advertisements calling for claims to be made?
If you have previously made a complaint to our Investor Affairs and Complaints department and have submitted supporting documents, you will not need to do so again unless you have any additional information or documentary evidence supporting your claim.

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