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On 30 July 2010, a District Court in Singapore had sentenced two individuals, Phang Wah and Jackie Hoo Choon Cheat of Sunshine Empire Sdn Bhd, to nine years and seven years imprisonment respectively for running a fraudulent investment scheme. Both were convicted for fraudulent trading under section 340 of the Singapore Companies Act and criminal breach of trust under section 409 of the Singapore Penal Code.
Earlier on 3 June 2010, Sunshine Empire Sdn Bhd was fined RM2 million after having pleaded guilty at the Kuala Lumpur Sessions Court to two charges under section 25(1) of the Banking and Financial Institutions Act 1989 for accepting deposits from members of the public without a valid licence.
On another note, Hasri Mohd Noor, a director of Business Time Dina Sdn Bhd, a company related to Pan Phoenix Dina Sdn. Bhd., has been sentenced to six years imprisonment by the High Court of Brunei on 7 August 2010 for illegal deposit taking under section 93 (1) of the Banking Order 2006. Hasri Mohd Noor is currently being prosecuted in Malaysia for possible offences under section 25(1) of the Banking and Financial Institutions Act 1989 and section 4(1) Anti-Money Laundering and Anti-Terrorism Financing Act 2001.
Members of the public are reminded not to place any monies or deposits with unlicensed institutions or be involved in any form of get-rich-quick schemes to avoid losing their hard-earned money. A list of institutions licensed under the laws administered by Bank Negara Malaysia to accept deposits is available on its website at www.bnm.gov.my.
Members of the public can also access information relating to illegal financial schemes and enforcement actions taken by Bank Negara Malaysia at the Financial Fraud Alert Site (http://fraudalert.bnm.gov.my).
For further enquiries and information relating to this, members of the public can contact Bank Negara Malaysia at the following:
Laman Informasi Nasihat dan Khidmat (BNMLINK)
(Walk-in Customer Service Centre)
Ground Floor, Block D
Jalan Dato' Onn
50480 Kuala Lumpur
Telephone:
BNMTELELINK : 1-300-88-5465 or
E-mail: bnmtelelink@bnm.gov.my
