Investment Con-sultant

Former investment banker Charles Chua Yi Fuan, who was charged last Thursday for duping four investors to invest in non-existent investment schemes in which they lost RM76,000, has been slapped with 13 new charges for similarly deceiving seven others, which led to the victims losing RM1.67 million between July 2017 and May 2019.

Chua, a former vice-president of debt markets at Hong Leong Investment Bank, had told the seven victims that they were investing in investment schemes involving the subscription of securities, but the purported schemes did not exist.

In a statement, the Securities Commission said Chua was on Friday brought to two separate Sessions Court in Melaka to face the 13 new charges under subsection 179(b) of the Capital Markets and Services Act 2007 for deceiving the victims. If found guilty, he could be imprisoned for up to 10 years and fined no less than RM1 million for each charge.

According to the SC, Chua claimed trial to all the charges preferred against him.

The new charges came after Chua was accused of committing a similar offence against four other victims in the two Kuala Lumpur Sessions Courts on June 16. Likewise, he claimed trial to those charges.

The SC continues to remind investors to exercise caution before parting with their monies and when considering investment opportunities. Investors are advised to refer to the SC’s Investor Alert List for a list of unauthorized websites/platforms, investment products, companies and individuals. Investors can also contact the SC’s Consumer & Investor Office at 03-6204 8999 or email aduan@seccom.com.my for further queries," the SC added.