Securities Commission warns of bogus letter

The Securities Commission (SC) today warned the public about bogus
letters with its logo being used in an illegal investment scheme.

The SC said it has come to its attention that an unlicensed individual is behind the scam.

"The letters, addressed to individuals, contains the forged signature of an SC officer," the Commission said in a statement.

According to complaints received by the SC, the investment scheme
purportedly
offers a return of between 5-10 per cent per month and has largely
attracted investors from Kota Bharu, Nilai, Putrajaya and Johor Bahru.






The individual uses the bogus SC letters later to justify to his
clients why he is unable to pay out the promised returns to them.

The SC has lodged a police report on the unauthorised and misleading use of its name and logo.

Persons
who are not licensed by the SC are not allowed to collect monies from
others for investment in securities or derivatives. The list of
companies and individuals licensed by the SC to carry out investment
activities, including providing investment advice, can be found on the
SC’s website at [You must be registered and logged in to see this link.]

The public are reminded that the SC does not and will not in any
circumstances, endorse any investment product or scheme.

"If
you are approached by anyone purporting to have such endorsement (even
if you are shown a copy of a letter purported to be from the SC), do not
part with any monies and alert the SC immediately," it said.

Anyone
who comes across any suspicious letters, websites, as well as emails or
who has any information pertaining to suspicious investment schemes or
activities relating to securities or derivatives should contact the SC
at (6)
03-62048999 or e-mail to [You must be registered and logged in to see this link.]. -- BERNAMA