| Uw Global Inc. Takes Legal Action Against Three High Ranking Officials In Labuan Fsa
By: DigiX Marketers
May 30, 2024 - PRLog -- - Legal Action Initiated: UW GLOBAL INC. (UWGI), via their appointed lawyers Wajdi Mohamad & Company, has served a writ summons initiating legal proceedings against three (3) high-ranking individuals, seeking redress for alleged grievances and damages incurred and outlining the nature of the claims.
- Unjust Restrictions Despite Cooperation: Despite UWGI's full cooperation with Labuan FSA's supervisory and audit measures, the issuance of an unwarranted Restriction of Business (ROB) reflects a lack of justification on Labuan FSA's part. UWGI's commitment to regulatory compliance remains unwavering, despite the unjustified actions taken by Labuan FSA.
- Regulatory Compliance: Despite past concerns, UWGI operates under Labuan FSA's money broking license, prioritizing client fund security.
- Commitment to Transparency: UWGI is dedicated to resolving issues transparently, communicating with customers, and upholding integrity and compliance standards.
LABUAN, May 11, 2024 - UW GLOBAL INC. (UWGI) via their appointed lawyers Wajdi Mohamad & Company, has initiated legal proceedings against three (3) high ranking Labuan FSA officers, seeking justice and remedy of the financial losses incurred, due to unwarranted restrictions and reputational damage.
These individuals, Nik Mohamad Din Bin Nik Musa, Director General of Labuan FSA and Chairman of the Supervision & Enforcement Committee (SEC) of Labuan FSA, Muhamad Hanafis Bin Borhan, Director of Supervision of Labuan FSA and SEC member of Labuan FSA, as well as Mohd Ridzuan Bin Zulkifli, Labuan FSA's Director of Law and Enforcement and SEC member of Labuan FSA, have been served with writs to initiate legal proceedings against them.
This action seeks redress for alleged grievances and damages incurred. The writ summons, filed by Wajdi Mohamad & Company, solicitors of the UWGI, outlines the nature of the claims. Think'ap Consultancy D-8-01, Capital 4, Oasis Square, No 2 Jalan PJU 1A/7A, Ara Damansara, 47301 Petaling Jaya, Selangor, Malaysia. The named individuals are ordered to cause an appearance to be entered within fourteen (14) days from the date of service of this writ. Failure to comply may result in the UWGI proceeding to obtain judgment in default and execution. The writ specifies the Plaintiff's claims, seeking various remedies including General Damages, Special Damages amounting to RM3,000,000.00, interest at the rate of 5% per annum, costs of the action, and other relief deemed fit by the Court. The named individuals are urged to provide a timely and appropriate response to the allegations raised.
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