Mother of three fined RM50,000 for running tontine fund in first case since law was amended in 2011 | TheStarTV.com

Mother of three fined RM50,000 for running tontine fund in first case since law was amended in 2011

Published on 14 Feb 2022 5:52:02 PM

In a first for the country since the relevant law was amended in 2011, a 38-year-old mother of three has been fined RM50,000 for running a kootu (tontine) fund which the prosecution said involved an element of profit.

Nor Jaimah Kamarudin, who operates a nasi lemak stall, pleaded guilty to the charge under Section 3(1) of the Kootu Funds (Prohibition) Act 1971 at the Butterworth Sessions Court on Monday (Feb 14).

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Keywords
kootu fund, tontine, ammended, mother, butterworth, sessions court, kootu funds prohibitionact 1971, profit

In a first for the country since the relevant law was amended in 2011, a 38-year-old mother of three has been fined RM50,000 for running a kootu (tontine) fund which the prosecution said involved an element of profit.

Nor Jaimah Kamarudin, who operates a nasi lemak stall, pleaded guilty to the charge under Section 3(1) of the Kootu Funds (Prohibition) Act 1971 at the Butterworth Sessions Court on Monday (Feb 14).

Read more at https://bit.ly/3LJ8ibR

WATCH MORE: https://thestartv.com/c/news
SUBSCRIBE: https://cutt.ly/TheStar
LIKE: https://fb.com/TheStarOnline

Keywords:
kootu fund, tontine, ammended, mother, butterworth, sessions court, kootu funds prohibitionact 1971, profit

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