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Mother of three fined RM50,000 for running tontine fund in first case since law was amended in 2011

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. ....

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 , Kootu Funds Prohibition Act 1971 , Companies Commission Of Malaysia ,