Felda lodges police report against impostor

Government-owned agency Federal Land Development Authority (Felda) has lodged a police report against a similarly named potential “clone”.

According to financial daily The Edge, it reported one “Felda Invest” to the Dang Wangi district police station yesterday.

“The police report is to safeguard Felda’s good name and protect the integrity of the organisation.

“Felda will proceed with legal action if the entity remains active and uses the Felda name in illegitimate ways,” the plantation conglomerate said.

This comes after the Securities Commission identified “Felda Invest” as a “potential clone entity” on Jan 24 and alerted investors about it.

The capital markets regulator described the entity as a “possible clone operating an illegal investment scheme”.

The SC further noted that the clone was involved in “unlicensed capital market activities of dealing in securities”.

A check on the clone’s scant website found that it described itself as an apparent “number one forex broker”.

Don’t be fooled

Felda thus warned all against being duped by the clone.

It also explained that the clone was not related to Felda Investment Corporation Sdn Bhd.

“For the purposes of clarification and avoidance of confusion, please be informed that the Felda Investment Corporation Sdn Bhd (FIC) is a legal company and wholly owned by Felda.

“This should not be misinterpreted or likened to the (clone) Felda Invest that was included in the (SC’s) Investor Alert List,” it said. - Mkini