SC appoints administrator to aid Swisscash investors

Tuesday, January 26, 2010

The Securities Commission (SC) has appointed PricewaterhouseCoopers Advisory Services Sdn Bhd as the administrator to manage the restitution process for eligible investors in the Swisscash Internet investment scam.

The administrator would, within this week, be issuing notices calling for claims from claimants as well as the detailed format and supporting documents required, the commission said in a statement yesterday.
It said the notices from the administrator will appear on the administrator’s website as well as in Berita Harian, Malaysia Nanban, News Straits Times, The Borneo Post, The Star, Sin Chew Daily and Utusan Malaysia.

“Once the public notices are issued, all communications with regard to the restitution process should be addressed directly to the administrator and not the commission,” it added.

The administrator would assess and review claims and will then make its recommendations to the SC on the appropriate eligibility criteria for payments to be made, the commission said.      

“This criteria will then be submitted by the SC to the High Court for its approval,” it said.
Meanwhile, the commission also warned members of the public to be wary of unauthorised parties soliciting for donations in its name or that of senior officers.

The commission said in a statement that neither its chairman nor its officers were in any way involved with any such individuals or corporations.

It also advised members of the public who had been approached by such persons and corporations to ignore the solicitations and alert it immediately.

They can also contact the commission’s corporate affairs department at 03-6204 8777.

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