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A former bank analyst has been sentenced to three years imprisonment by the Kuala Lumpur Sessions Court for conducting unlicensed securities dealing and falsely claiming the Unit Trust Consultant credential, marking a significant enforcement action by Malaysia's Securities Commission.
QEW has refuted fraud accusations related to a RM20.45 million investment initiative, asserting that all 111 plaintiffs were fully informed of the associated risks prior to committing capital.
One hundred and eleven investors have launched legal proceedings against QEW Group Bhd and company directors, seeking recovery of RM20.45 million invested through a Shariah-compliant investment product that reportedly failed to deliver promised returns.
A collective of 111 investors has launched legal proceedings at the High Court targeting QEW Group and its two directors, seeking recovery of RM20.5 million in unrecovered capital from what appears to be a failed investment vehicle.