SC Charges Unlicensed Futures Trader for Defrauding Investors

14 February 2022 |  Kuala Lumpur 

The Securities Commission Malaysia (SC) today charged Mohd Azhidi bin Laili (Azhidi) for breaching various provisions under securities laws for engaging in unlicensed activities and deceiving nine investors of approximately RM1.45 million of their monies between May 2013 and March 2014.

Azhidi represented to the nine victims that they were investing in a futures crude palm oil investment scheme under AmFutures Sdn Bhd, when in fact such scheme did not exist in AmFutures Sdn Bhd.

The SC obtained a warrant of arrest against Azhidi in July 2021 when all SC’s attempts to locate him since 2015 failed. Azhidi was arrested on 12 February 2022.

Azhidi was brought to the Kuala Lumpur Sessions Court this morning to face nine charges under subsection 206(b) of the Capital Markets and Services Act 2007 (CMSA). If found guilty, he faces an imprisonment term of not exceeding 10 years and a fine of not less than RM1 million.

In addition, the SC also charged Azhidi for holding out as a representative of AmFutures Sdn Bhd without a Capital Markets Services Representative's Licence, an offence under subsection 59(1) of the CMSA. The offence is punishable with an imprisonment term not exceeding five years or a fine not exceeding RM5 million, or both.

Azhidi also faced another charge under the subsection 134(5)(a) of the Securities Commission Malaysia Act 1993 for failing to comply with SC’s Notice to appear before the SC’s Investigating Officer on 13 February 2018. If convicted, the accused faces an imprisonment term of not exceeding five years or a fine of not exceeding RM1 million.

The Sessions Court judge Kamarudin Kamsun granted bail at RM250,000 with two sureties. In addition, the accused was ordered to surrender his passport to the court and required to report to the SC’s Investigating Officer on a monthly basis until the completion of the trial.

The SC reminds investors to exercise caution when considering investment opportunities through various anti-scam awareness campaigns. The SC’s Investor Alert List is constantly updated to guide the public to identify unauthorised / unlicensed platforms, companies or individuals. Further queries can be made to the SC’s Consumer and Investor Department at tel: 03-6204 8999 or e-mail: [email protected]


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