9 Sept 2025
1. ) P. PONNAMAL A/P PONNIAH 2. ) PREMA A/P ACHU 3. ) DEBORAH ANN RODRIGO 4. ) Y.M.CHE ENGKU MAHIRAH BT ABDULLAH 5. ) GOH CHIANG BENG 6. ) ALEXANDER VINCENT 7. ) GEA BAN THONG 8. ) NG GUAT TIN 9. ) KOH KOCK KEANG 10. ) SUPRAMANIAM A/L S SHA
- Citation
- WA-22NCC-606-11/2022 (Mahkamah Tinggi)
- Court
- High Court
- Case number
- WA-22NCC-606-11/2022 (Mahkamah Tinggi)
The court held that the 3rd, 4th and 5th defendants engaged in deposit-taking without a licence under section 137(1) FSA 2013 (facts supported by BNM public statements and undisputed bank transfers), but section 270 FSA prevents such contracts from being void ab initio and plaintiffs may recover deposits; evidence established commingling of funds and that the defendants operated as a single economic unit with the 1st defendant as the controlling mind, fraud and misrepresentations were proved on balance of probabilities, the corporate veil was lifted and the 1st to 4th defendants were made joi…