KUALA LUMPUR: Former investment banker Charles Chua Yi Fuan was sentenced to three years in jail and fined RM1 million by the Sessions Court here t for deceiving an investor to invest in a non-existent investment scheme which caused the investor to lose RM175,000 five years ago.
Judge Kamarudin Kamsun handed down the sentence on Chua, 45, formerly vice president of debt markets at Hong Leong Investment Bank Bhd after he pleaded guilty to one out of the 17 charges.
The judge said he took into consideration the 16 outstanding charges pursuant to Section 171A of the Criminal Procedure Code in passing the sentence. This means that Chua has no more outstanding charges. In all 17 charges, Chua told his victims that they were investing in investment schemes involving the subscription of securities, but the purported schemes did not exist and made the investors lose RM1.73 million between 2017 and 2019.
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