Former Investment Banker Faces 13 New Charges for Deceiving Investors

24 June 2022  |  Kuala Lumpur

The Securities Commission Malaysia (SC) today charged a former investment banker, Charles Chua Yi Fuan, for deceiving seven investors who suffered losses of nearly RM1.67 million between July 2017 to May 2019.

Charles, a former Vice President of Debt Markets at Hong Leong Investment Bank Berhad, had represented to the victims that they were investing in purported investment schemes involving subscription of securities, when in fact such schemes did not exist.

Charles was brought today to two separate Sessions Court in Melaka to face 13 charges under subsection 179(b) of the Capital Markets and Services Act 2007 (CMSA). The punishment for conviction of an offence under this subsection is an imprisonment term not exceeding 10 years and a fine of not less than RM1 million for each charge.

Charles claimed trial to all the charges preferred against him. Sessions Court judge Nariman Badruddin granted bail at RM300,000 with two sureties. In another court, Sessions Court judge Maziah Joary Mohd Tajudin granted bail at RM280,000 also with two sureties. Additionally, both courts ordered the accused to report to the SC’s Investigating Officer on a monthly basis.

Charles previously faced four charges on 16 June 2022 at two Kuala Lumpur Sessions Courts relating to similar offences, and has claimed trial to those charges.

The SC continues to remind investors to exercise caution before parting with their monies and when considering investment opportunities. Investors are advised to refer to the SC’s Investor Alert List for a list of unauthorised websites/platforms, investment products, companies and individuals. Investors can also contact the SC’s Consumer &  Investor Office at tel: 03-6204 8999 or e-mail: [email protected] for further queries.


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