A Singaporean man has been ordered by a Malaysian High Court to return about RM28 million (S$8.4 million) to 122 Malaysian investors, who had sued him in 2022 to recoup their investments. Kuala Lumpur High Court Justice Arief Emran Arifin said Chan Cheh Shin’s operation...
A Singaporean man has been ordered by a Malaysia n High Court to return about RM28 million to 122 Malaysia n investors, who had sued him in 2022 to recoup their investments.
Chan also did not seek approval from the Securities Commission Malaysia to collect funds for investment activities. The judge also ordered Chan to pay interest on the sum collected from the investors at 5 per cent per annum, from the date of the case filing until the judgment sum is settled.He was a director of the company and had promoted several investment products via roadshows and seminars.
They said he convinced them that he would prudently manage their investments and that if the investments failed, he would indemnify them, added the FMT report.
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