KUALA LUMPUR (Dec 28): The Securities Commission Malaysia (SC) has warned the public about bogus letters with the regulator's logo being used in an illegal investment scheme.
In a statement Wednesday, the SC said it had come to its attention that an unlicensed individual had been using bogus letters with the SC's logo in relation to an illegal investment scheme.
The letters, which are addressed to the individual, contains the forged signature of an SC officer, it said.
'According to complaints received by the SC, the investment scheme purportedly offers a return of between 5% and 10% per month and has largely attracted investors from Kota Bharu (Kelantan), Nilai, Putrajaya and Johor Bahru.
'The individual later uses the bogus SC letters to justify to his clients why he is unable to pay out the promised returns to them,' it said.
The SC said it had 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 on their behalf, it said.
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 www.sc.com.my.
'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 do alert the SC immediately,' it said.