PETALING JAYA: A former CIMB investment banker was charged by the Securities Commission in three separate sessions courts in Kuala Lumpur today with defrauding investors of RM201,000.
Ruwan Amaresh Shaun Ponniah was slapped with 10 charges under Section 179(b) of the Capital Markets and Services Act 2007 (CMSA) with investment fraud involving seven individuals after claiming he would invest their money in shares listed on the Malaysian and foreign stock exchanges.
He was slapped with an additional charge under Section 58(1) of the CMSA with carrying out fund management activities without a licence, the SC said in a statement.
He was charged with committing both offences between October 2018 and June 2020.
Ruwan claimed trial to all 11 charges in three separate courts and was granted bail totalling RM210,000.