(English) Lesson 13 High Return Trust Product: Where did the MONEY go ? Based on Real Life Case Study, Constitution & Audited Financial Statements Analysis

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Title: High Return Trust Product Lesson 13: Where did the MONEY go ? Based on Real Life Case Study, Constitution & Audited Financial Statements Analysis

Webinar outline:
1 Doing Well On the Surface

1.1 How from the outside A Trustee appears to be doing well.

1.2 Fantastic growth.

1.3 Agents enjoying good income

2 Ballooned Trust Assets

2.1 How are they doing?

2.2 What is happening to Client’s Money / Trust Capital / Trust Asset

2.3 Secrecy & Hidden

2.4 All are not what they appear to be.

3 Structure & Modus Operandi

3.1 This structure that was created is a monster that cannot be controlled.

3.2 Like a runaway train that cannot stop until there is a crash

3.3 What will happen to the Client's Money by then ?

4 The revelations

4.1 Spider web

4.2 The companies;

4.3 The relationships

5 Investment Health Check

5.1 Asset Quality

5.2 Liquidity Ratio

5.3 Debt / Equity Ratio

6 L Group: Ultra High Risk for Investors

6.1 A Trustee invested in LA that is NOT approved company or authorized investment under Trustee Act 1949

6.2 Is there Mis-Selling or Mis-Representation by Agent ?

• High Credit Risks
• Low Liquidity Ratio
• High Debt / Equity Ratio
• Started AFTER introduction of Trust Products
• Fund Management Expertise ?
• Creditworthiness ?

7 People involved

7.1 The questionable background of some of the people involved

7.2 Ms KV - L Group

• Where is the fund management expertise ?

7.3 Ah Lan - Indirect shareholder & director of department of A Trustee

• Director of RBTR since 2006 (Sued by SC for misleading investor, under creditor liquidation)
• Director of SC Sdn Bhd since 2007 (Sued by Ms Dee for Debt Recovery, under creditor liquidation)
• Director of C Sdn Bhd since 2015 (Sued by various parties, under creditor liquidation)
• Various Directorship in Mr. S & Ms K company (Property)

7.4 Mr. S - Shareholder of L Group

• Involved in various court cases relating to settlement of debt. Companies were under creditors liquidation for failing to meet their debts.
• Why would Mr. S apply for liquidation as a creditor for his own company ?

8 CROUCHING DANGERS, HIDDEN RISKS on Trust Capital

• Not making expected Profit on Trust Investment
• Not paying real dividend to client
• Creative Transactions
• Clients and Sales Agents are not aware

Danger & Risk #01: Is A Trustee printing "money" out of thin air ?

• Clients get regular payout disguised dividend (small % of their own money) ?
• Creates False Impression that Trust Investment is profitable ?
• Director & Co Sec in Breach of CA2016 ?
• Creative Constitution Drafting ?

• Early & Annual Redemption of Bonus Issue
• RPS with 0% Dividend
• Disguised Dividend (Bonus)

Danger & Risk #02: Is L Group (Fund Management Co) Cooking the Books ?

• In order to pass solvency test
• Director in Breach of CA2016 ?
• Creative Accounting ?

• Management Fees
• CRPS 15% but Disguised Dividend (Interest)
• Sham Transaction to create profit for LC from S&P of Property to LV
• Promissory Notes
• Setup P Group to Create Profit & Hide Real Losses of L Group
• iRPS Series C for AL

Danger & Risk #03: Is Trust Capital endangered by Connected Parties Dipping into Client's nest egg ?

• Are Trustee & Fund Management Company Connected & Related ?
• Director & Auditor Negligence ?

• Acquisition of LF
  • LF is a chess company
  • loss making with no business
  • paid RM 1 mil
  • wrote off RM 983k goodwill in the same year
• Acquisition of LC
  • paid RM 5 mil
  • wrote off RM 4.5 mil goodwill & RM 500k directors' debt the same year
• 0 % or Low Interest to Related Parties
• Concentrated Credit Risk

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