(English) Lesson 13 High Return Trust Product: Where did the MONEY go ? Based on Real Life Case Study, Constitution & Audited Financial Statements Analysis
Total Training Duration: 4 hours 11 minutes
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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
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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