Fintoch securities fraud warning from Malaysia
Fintoch has received a securities fraud warning from Malaysia.
On June 8th, the Malaysia Securities Commission added Fintoch to its Investor Alert List.
SC added two Fintoch websites to its list, Fintoch’s website and “fintochonline.com”.
Fintoch Online features social media links belonging to Shaikh Amin, a serial Ponzi promoter from Goa, India.
In adding Fintoch to its Investor Alert List, SC noted Fintoch was
holding out as operating a recognized market without authorisation from the SC.
This is the equivalent of a securities fraud warning in other jurisdictions.
Fintoch was a Boris CEO Ponzi scheme that primarily targeted Asia.
On May 26th Fintoch disabled withdrawals and collapsed. The exit-scam completed on June 23rd, with Fintoch disabling its website.
On May 26th, the same day Fintoch disabled withdrawals, Shaikh Amin claimed anyone who believed Fintoch had collapsed was a “stupid person”.
In addition to Malaysia, authorities in Singapore issued a Fintoch securities fraud warning on May 4th.
Fintoch is believed to have been run by Chinese scammers hiding out in either Singapore or Hong Kong.
Update 18th August 2023 – Fintoch is trying to reboot as Standard Cross Finance.