Mother of three fined RM50,000 for running tontine fund in f

BUTTERWORTH: In a first for the country since the relevant law was amended in 2011, a 38-year-old mother of three has been fined RM50,000 for running a kootu (tontine) fund which the prosecution said involved an element of profit.

Related Keywords

Malaysia , Kuantan , Pahang , Jaimah Kamarudin , Mohd Iqbal , Norhayati Mohamad Yunus , Mohd Iqbal Yusoff , Malaysia Companies Commission , Sessions Court , Kootu Funds , Nor Jaimah , Shamsher Singh Thind , Companies Commission , Courts Crime , Kootu Fund , Tontine , First , Fact , Amended , Mother , Guilty , Fine , Butterworth , Kootu Funds Prohibition Act 1971 , Companies Commission Of Malaysia , Profit ,