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Malaysian court orders S'porean to return $8.4m to 122 investors
The Straits Times
|November 17, 2024
A Singaporean man has been ordered by a Malaysian high court to return about RM28 million (S$8.4 million) to 122 Malaysian investors, who had sued him in 2022 to recoup their investments.
Kuala Lumpur High Court Justice Arief Emran Arifin said Chan Cheh Shin's operation was illegal, reported news site Free Malaysia Today (FMT) on Nov 15.
Chan also did not seek approval from the Securities Commission Malaysia to collect funds for investment activities.
Justice Arief ordered Chan to return the monies he had collected from the investors. The investments totalled about RM28 million, said FMT.
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