The Malaysia Securities Commission said the Kuala Lumpur Sessions Court sentenced Muhamad Fadzli bin Jamaludin, a former director of Kyaputen Sdn Bhd, to five years in prison after convicting him of unlicensed fund management and money laundering offences. The convictions covered three charges of holding himself out as carrying on a fund management business without a licence and nine money laundering charges. The offences took place between August 2018 and April 2020 in Kuala Lumpur and Melaka. The prosecution called 23 witnesses, including six victims who collectively lost RM1.263 million. The court imposed five years' imprisonment for each of the 12 charges, to run concurrently, after finding that Fadzli had failed to raise a reasonable doubt in the prosecution's case. The release also reiterated that fund management is a regulated activity that requires a licence from the Malaysia Securities Commission.
Malaysia Securities Commission2026-07-15
Malaysia Securities Commission secures five year jail sentence for former director over unlicensed fund management and money laundering
The Malaysia Securities Commission said the Kuala Lumpur Sessions Court jailed former Kyaputen Sdn Bhd director Muhamad Fadzli bin Jamaludin for five years after convicting him on unlicensed fund management and money laundering charges. The case involved 12 charges linked to conduct between August 2018 and April 2020, with six victims suffering losses of RM1.263 million. Fund management requires a licence from the Malaysia Securities Commission.