{"id":14385,"date":"2022-07-21T13:52:32","date_gmt":"2022-07-21T05:52:32","guid":{"rendered":"https:\/\/newmalaysiatimes.com\/?p=14385"},"modified":"2022-07-21T15:19:52","modified_gmt":"2022-07-21T07:19:52","slug":"rockwills-sued-for-its-alleged-role-in-spreading-lies-about-trust-companies","status":"publish","type":"post","link":"https:\/\/newmalaysiatimes.com\/?p=14385","title":{"rendered":"Rockwills sued for its alleged role in spreading lies about Trust companies"},"content":{"rendered":"\n

Kuala Lumpur, July 21<\/strong> — UBB Amanah Berhad has filed a lawsuit against Rockwills Corp Sdn Bhd, Learnabee International Sdn Bhd and several others for a webinar series which allegedly maliciously portrayed and equated cash trust companies, and particularly UBB Amanah Berhad, as being Ponzi schemes.<\/p>\n\n\n\n

UBB Amanah said that the 15-session webinar series launched by Learnabee insinuated that its cash trust is involved in illegal and fraudulent business operations with the intent of cheating its clients and customers of their money, reported The Edge<\/a>.<\/p>\n\n\n\n

UBB Amanah named Learnabee directors Evanna Low Fei Ting and Johari Low Abdullah as well as its parent company Rockwills Corp Sdn Bhd, of which Johari is also a director and shareholder, as defendants in the suit.<\/p>\n\n\n\n

The trust company said that the defendants\u2019 actions in interfering with its business resulted in UBB Amanah suffering losses in the sum of RM8.615 million from July 2021 to June 28, 2022.<\/p>\n\n\n\n

It alleged that Low \u2014 who is a content producer for Learnabee \u2014 in a webinar series had demonstrated a forensic investigation on a particular trust company described as \u201cA Trustee Company\u201d, which UBB Amanah noted bore striking similarities to itself.<\/p>\n\n\n

\n
\"Rockwills\"<\/figure><\/div>\n\n\n

\u201c[Low] asserted that the said ‘A Trustee Company’ has been operating in the trust industry and business for nearly three decades, with more than RM2.5 billion worth of assets under their trust.”<\/em><\/p>\n\n\n\n

\u201cThe said assertion directly refers to [UBB Amanah] and its business, as [UBB Amanah] was established in 1988 and at the material time, had more than RM2.5 billion worth of assets under their trust,\u201d<\/em> UBB Amanah said in its statement of claim.<\/p>\n\n\n\n

Elaborating on its allegation, UBB Amanah said that Evanna had also made references to its corporate structure via the adoption of acronyms or abbreviations which are purportedly identical to the initials, acronyms or abbreviations of its directors.<\/p>\n\n\n\n

UBB Amanah also alleged that through webinars, Learnabee and Evanna had repeatedly instigated fear and concern among the webinars\u2019 participants that their money held under UBB Amanah was being mismanaged and was at risk.<\/p>\n\n\n\n

\u201c[Learnabee and Low] also provided participants of the webinars with samples of termination letters and inquiries letters, which can be adopted by them for the purpose of terminating their trust deeds or raise queries with [UBB Amanah],\u201d <\/em>it added, claiming that the defendants had actively persuaded the webinars\u2019 participants to terminate their trust deeds with UBB Amanah.<\/p>\n\n\n\n

UBB Amanah stated that the aforesaid fear and concern among the public was further enhanced after an article entitled \u201cSeveral cash trusts said to be Ponzi schemes\u201d was published by The Edge.  <\/p>\n\n\n\n

It alleged that the article contains \u201cvarious references\u201d which insinuated UBB Amanah and its business.<\/p>\n\n\n\n

\u201cThe Edge article was either drafted by [Learnabee and\/or Johari] and arose from the webinars conducted by [Learnabee, Low and Johari].\u201d<\/em><\/p>\n\n\n\n

Meanwhile, it claimed that Rockwills had taken a series of marketing moves \u2014 via a video, write-up, and \u201caggressive\u201d marketing of Learnabee \u2014 to bolster its reputation while damaging UBB Amanah\u2019s.<\/p>\n\n\n\n

It alleged that the publication of webinars, The Edge article and Rockwills\u2019 marketing were calculated to damage UBB Amanah\u2019s business and reputation as an established and reputable trust company \u2014 which it asserted would directly benefit Rockwills\u2019 business, due to the latter\u2019s purported position as a direct competitor.<\/p>\n\n\n\n

As a result of the defendants\u2019 acts and\/or conduct, UBB Amanah claims it has suffered losses amounting to RM8.61 million between July 2021 and June 2022, due to termination payments paid to its clients and\/or customers, cancellation of trust applications and refunds of trust applications.<\/p>\n\n\n\n

UBB Amanah is seeking several court declarations, including that the defendants had unlawfully interfered with its business, and that they had misrepresented the company\u2019s business.<\/p>\n\n\n\n

It also sought orders for the removal of the content which interfered with its cash trust business, damages, aggravated damages, exemplary damages as well as costs.<\/p>\n\n\n\n

NMT<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Kuala Lumpur, July 21 — UBB Amanah Berhad has filed a lawsuit against Rockwills Corp…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10893,524],"tags":[],"class_list":["post-14385","post","type-post","status-publish","format-standard","hentry","category-courts","category-nation"],"featured_image_urls":{"full":"","thumbnail":"","medium":"","medium_large":"","large":"","1536x1536":"","2048x2048":"","newsium-slider-full":"","newsium-featured":"","newsium-medium":""},"author_info":{"info":["Editor"]},"category_info":"Courts<\/a> Nation<\/a>","tag_info":"Nation","comment_count":"0","_links":{"self":[{"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/posts\/14385","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=14385"}],"version-history":[{"count":3,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/posts\/14385\/revisions"}],"predecessor-version":[{"id":14391,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/posts\/14385\/revisions\/14391"}],"wp:attachment":[{"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=14385"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=14385"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=14385"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}