Following the Securities Commision (SC) success to bring back RM31 million from the Swisscash Investment scam last November, SC has appointed PricewaterhouseCoopers Advisory Services Sdn Bhd as the administrator to manage the restoration process for eligible investors.
Within this week, PricewaterhouseCoopers Advisory Services will be issuing notices calling for claims from claimants and the detailed format and supporting documents required.
The notices will appear on the PricewaterhouseCoopers Advisory Services website and major newspapers, namely Berita Harian, Malaysia Nanban, News Straits Times, The Borneo Post, The Star, Sin Chew Daily and Utusan Malaysia.
Once the public notices are issued by the administrator, all communications with regard to the restitution process should be addressed directly to the administrator, and not to the SC.
The administrator will assess and review the claims before making recommendations on the appropriate eligibility criteria for payments to be made. These criteria will then be submitted by the SC to the High Court for its approval.
The person and company behind this investment scams are Albert Lee Kee Sien, Amir Hassan, Kevin Choo Mun Hoe and Dynamic Revolution Sdn Bhd. The total investment made in this scam was approximately RM286.3 million but SC only manage to bring back RM 31 million.