KUALA LUMPUR (March 24): Fugitive Uzir Abdul Samad, also known as Haji Uzir, who has been arrested by the Securities Commission, was charged today for carrying out regulated activities of fund management without a licence and defrauding investors.
He is believed to have been picked up by the authorities in Subang Jaya and brought to Johor Baru to be charged as the offences were allegedly committed there.
According to charge sheets sighted by theedgemarkets.com, Uzir was charged with three offences under the Capital Markets and Services Act 2007 (CMSA).
In the first charge, Uzir was accused of carrying on a business in regulated activity of fund management without a Capital Markets Services Licence issued by the Securities Commission Malaysia (SC). If found guilty for this, Uzir is liable to be fined up to RM10 million or jailed up to 10 years or both.
In the second and third charges, Uzir was accused of misusing the titles "fund manager" and "Securities Commission Capital Market Services Representative's Licence (CMSRL) holder" to defraud investors, for which he could be fined not more than RM1 million or jailed up to five years for each of the offences if found guilty.
He pleaded not guilty to all three charges after they were read out to him in the Johor Baru Sessions Court today before Judge Aizatul Akmal Maharani. He was also denied bail as the judge fixed April 14 for mention of the case.
According to the SC, Uzir had been on the run from the authorities since 2016.
In a statement, the SC confirmed Uzir was apprehended yesterday at his Selangor home following a tip-off from the public. "Uzir, was a former director of UAS Bistari Management Sdn Bhd," it said.
SC deputy public prosecutor Mohd Hafiz Mohd Yusoff and prosecuting officers Mageswary Karropiah and Muhammad Izzat Fauzan appeared for the prosecution, while the accused was represented by lawyer Azzuan Shah.
The SC had, in February, issued a notice seeking help from the public to locate the suspect. At the time, he was last known to be working as a Richlist Club Boutique advisor for Richlist Club Malaysia.
"Providing investment advice is a regulated activity under the CMSA. Members of the public are reminded to be vigilant and verify the licence or registration of individuals, companies and platforms offering capital market services or products before making any investment decisions. This includes the provision of investment advice," the SC said in its notice then.