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Nation Published: Wednesday April 13, 2011 MYT 3:57:00 PM

Sarawak
World Updates Ponzi scheme investors
Courts
Parliament allowed to recover money
Columnists
By M. MAGESWARI
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KUALA LUMPUR: The Sessions Court has ordered RM8.2mil recovered

from a woman director who ran a RM100mil Ponzi scheme to be returned
to 600 investors.

Judge S.M. Komathy Suppiah granted the investors' claims after hearing
evidence from eight of their representatives in a show cause enquiry. Nation

Teoh inquiry: Witness alleging torture

The representatives were asked to show cause why the monies they lost
DAP member
to the woman, Raja Noor Asma Raja Harun, 49, should not be forfeited to Idris Jala: PM assures impoundment o
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the Government.
January
Umi Hafilda's RM100mil defamation su
About 4,000 investors comprising teachers, a Syariah judge and legal Ponzi scheme investors allowed to rec
practitioners, from all states, had invested more than RM100mil in the
Ponzi scheme run by Raja Noor Asma between 2007 and 2008.

On Wednesday, Komathy held that that it was clear from the evidence of
the claimants that they did not know they could have checked or
consulted with Bank Negara Malaysia and the Securities Commission
(SC) on the legality of the scheme.

"It is equally clear from the evidence that they all thought they were
investing in a legitimate scheme," she added.

"In the light of these facts, I order that the monies seized in this case be
returned to the claimants."

Komathy also granted a stay of her ruling pending an appeal upon an News Poll
application by the prosecution.
Should Malaysia continue to host the For
the current contract ends in 2015?
Earlier this year, Raja Noor Asma, a director of FX Capital Consultant (M)
Yes
Sdn Bhd and FX Consultant, was jailed seven years and fined RM5mil
No
after she admitted to 50 counts of money laundering and four SC
charges. VOTE View Results

Do you expect the 10th Sarawak Election

More in The Star Thursday
in the state’s history?

Yes

http://thestar.com.my/news/story.asp?file=/2011/4/13/nation/20110413160433&sec=n... 13-Apr-11