Uzir, who has been at large since 2016, was apprehended yesterday at his home in Selangor following a tip off from members of the public. The SC had listed Uzir as a wanted person since 2016 after obtaining a warrant of arrest against him.

A former director of UAS Bistari Management Sdn Bhd, Uzir was charged for holding himself out as a fund manager when he is not licensed by the SC to carry out the regulated activity of fund management. This is an offence under section 58(1) of the Capital Markets and Services Act 2007 (CMSA), which carries a maximum fine of RM10 million or imprisonment up to 10 years or both.

He was also charged for two offences under section 362(3) of the CMSA for using the titles of “Fund Manager” and “Securities Commission Capital Market Services Representative’s Licence (CMSRL) holder”, tending to create the belief that he was licensed to carry on the business of fund management. These offences carry a maximum fine of RM1 million or imprisonment term not exceeding five years or both, for each offence.

Johor Bahru Sessions Court Judge Tuan Aizatul Akmal bin Maharani agreed with the prosecution’s submission that Uzir is a flight risk, and denied Uzir bail pending trial to all three charges.