KUALA LUMPUR (Jan 7): The Securities Commission Malaysia (SC) has urged members of the public who have invested in two illegal futures and equity trading schemes to file their claims for restitution by Feb 6, 2019.

In a statement today, the SC said the first scheme is related to Kahar Mohd Tahir (NRIC Number: 670215-01-6185), while the second scheme involved Mohd Faizal Jamaludin (NRIC Number: 760405-01-5625).

The SC's investigation showed that the two had illegally solicited monies from the public between February and December 2015, purportedly to invest in a futures and equities trading scheme. Both were found to have carried out fund management activities without a licence.

Restitution processes were initiated in October 2016 for Kahar's case, and in April 2018 for Faizal's case, following administrative sanctions imposed against the two individuals.

As at September 2018, a total of RM854,173.20 from the duo has been secured to be restituted to eligible investors. To date, the SC has successfully disbursed RM744,844.30 to 25 affected investors.

Members of the public who have invested in these two schemes are required to submit their claims, together with the necessary proof of investment, to the SC before 5pm on Feb 6.

Upon receipt of the claims, the SC will determine the final amount of claim based on available funds and returns received by claimants (if any).

The claim form and more details on the matter are available on the SC's website at https://www.sc.com.my/regulation/enforcement/claim.

Investors with any queries regarding the restitution process may contact the SC's Consumer & Investor Office at 03-6204 8999 or [email protected].