PETALING JAYA: RBTR Asset Management Bhd and five others have been fined RM13.4mil in restitution for their role in the Euro Deposit Investment (EDI) scheme.
The Securities Commission (SC) said this was according to an order issued by the Kuala Lumpur High Court on March 30.
“The court ordered the defendants’ assets be traced and paid to the SC in order to compensate the EDI scheme investors. The court has also declared that RBTR, who was an SC-licensed fund manager, had breached its obligations and/or duties under the fund manager guidelines and failed to conduct due diligence to safeguard investor monies, ” the capital market regulator said in a statement.
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