Well aside from the fact that it is a trust company established under companies commission Malaysia and not regulated by BNM or SC, the company itself is legitimate and furthermore it has been around for quite some time.

The issues here are:

1. the projected returns/profit sharing (whether net of fees or otherwise [when you read the fine print]), which is in fact a bait to get discussion or get you to the door;

2. transparency as to the instruments invested in, track record of returns and whether they have been successful; and

3. As long as you have given up all your rights and powers to the trustee, and they have invested in accordance with your instruction, gain or loss, you will underwrite all the risk, save whether there is fraud/negligence on part of the trustee. Which in other words, is a very tall order. Technically, if in that 36 months, they have invested all your monies in Fixed Deposit, there is nothing wrong with it, even if it doesn’t reach the projected returns/profit sharing.

Based on the random stuff I gathered in the internet, I suspect UBB investment is mainly as a venture capitalist, private equity or equity funding. They pump in equity into the firm, in return they will get preference shares and dividend payments from the firm. Alternatively, they might also behave like equity crowd funding, giving out short term loans for operational or working capital. They hint at guarantee because the underlying instrument maybe collaterized.

It would be good to know what they actually invest in and they show their track record all this while, it would inspire some confidence. Then again, I believe once they disclose their secret source, it might be something that is very easy to replicate by potential competitors in the market.

In any case, I wouldn’t invest into such product especially if it aint regulated by SC or BNM.

You're spot on.

It is claimed to be secured as the Individual (via the Trustee) has a claim to the securities of the investee companies which is typically in the form of equity of the company/ debenture/ charge of land.

Trustee reports to BNM but only with regards to AMLA compliance. SC has been inquiring on these issues and I expect the Trustee Act/ Trust Company Act to be amended to allow for the oversight by SC, which will take a few years at least.

This post has been edited by green_algae: Sep 20 2023, 03:54 PM

Thanks your for this!

This Affidavit is going to carry a lot of weight especially since its from Mr. Christopher Foo. Definitely going to do a deep dive on this subject matter.

Great sharing. What's the background on this matter exactly?

Read here:
https://theedgemalaysia.com/article/cash-tr...it-ponzi-scheme

https://theedgemalaysia.com/article/content...ars-high-return

So any updates on the case? Learnabee website has been relatively inactive for the past 1 year, but they have recently started posting on Facebook/Youtube.

With my limited legal knowledge, they only way that they can win the case is to prove that UBB cash trust is indeed fradulent.

You don’t need legal knowledge 🤦‍♀️ but you need at least 3 years of financial statements to prove that the trust is fraudulent

The only way to tell is that where did their so called investments and how they generate their revenue and incomes to pay off their members in dividends

So far I am relying on open source information for my updates on this case, haven't seen anything so far.

As for the case winning/losing, not sure. Have to wait for final verdict and for the decision to be issued by the court.

Ive recently ask my agent for an update of the case. apparently they receive an injunction over the case.

GUAMAN SIVIL NO: WA-22NCvC-393-07/2022

I would like to see the final verdict from the court regarding this. since been having a few trust account here. i also would like to know from people here with legal background as what will happen in future, (OFC i ask my agent he said injunctions good for ubb mah)

the injunction is on Learnabee or UBB?

Learnabee

In the event of the judgment in UBB's favour, less ppl will be inclined to speak openly of UBB practices in a negative manner. Status quo.

If they lose, then expect lots drama as more questions will be raised.

Why am I not surprised that you like to enter into every single thread to impart your wisdom.

Legal or court case are based on facts 🤦‍♀️ when the facts are the financial statements to prove whether the cash trust is fraudulent or not 🤦‍♀️ which lead to the case outcome so it nothing to do with me imparting any wisdom 🤦‍♀️

This post has been edited by xander2k8: Dec 1 2023, 05:31 PM

https://www.youtube.com/watch?v=29cuTg4WztQ...l=KeluarSekejap

https://www.google.com/url?sa=t&source=web&...d_cFxIL3AcWezKh



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Verdict out already. https://theedgemalaysia.com/node/693631

Thanks for the updates.

So they were fined for "not abiding with an injunction"

So there is no defamation?
The things they said and do about UBB.....not defamatory?

Meaning, ........ or indirectly means ......

This post has been edited by MUM: Dec 13 2023, 01:13 AM


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I would never touch those investment that offers such return after learned from this: CAPITAL ASIA GROUP OIL MANAGEMENT LTD.

Meaning that they didn’t follow court orders after the injunction was issued

This case only for stop and cease not whether to prove that they were harmed from it as there should be court case for defamation after this since this only breach of injunction