Securities Commission Malaysia has charged brothers Anuar Hassan, Mohd Amin Hassan and Amir Hassan in three Kuala Lumpur Sessions Courts for allegedly carrying on a business of dealing in securities without the required Capital Markets Services Licence. The charges were brought under Section 58(1) of the Capital Markets and Services Act 2007, with some counts read together with Section 34 of the Penal Code. All three pleaded not guilty. The alleged conduct took place between March 2019 and October 2019 in Kuala Lumpur, Putrajaya, Selangor and Johor. The cases involve a mix of individual and joint charges across the three courts. Bail was set at RM20,000 or RM30,000 depending on the charge, with two sureties required and additional conditions including surrender of passports and monthly reporting to the Securities Commission Malaysia investigating officer. If convicted, they face a fine of up to RM10 million, imprisonment of up to 10 years, or both.
Malaysia Securities Commission2026-07-15
Securities Commission Malaysia charges three brothers over alleged unlicensed securities dealing
Securities Commission Malaysia has charged three brothers for allegedly dealing in securities without a Capital Markets Services Licence. The charges relate to conduct between March 2019 and October 2019 across four Malaysian jurisdictions, and all three pleaded not guilty. If convicted, they face up to RM10 million in fines, up to 10 years in prison, or both.