High court victory for Neurogine Capital in legal suit against Emas Fintech

Labuan, Malaysia, September 28, 2022: Neurogine Capital (L) Ltd, the developer and operator of Neurogine nTrade®, a money broking platform, has met with success in civil proceedings against Emas Fintech Inc. (Emas Fintech).

According to Neurogine Group Managing Director Chen Chee Peng, the suit (WA-23CY-4-01/2021) was filed in January last year and brought before Judicial Commissioner of the High Court of Kuala Lumpur His Lordship Dr. John Lee Kien How @ Mohd Johan Lee earlier this month. "The result is a clear victory for us and we are thankful," he said adding Neurogine Capital is represented by its legal counsel, Messrs Anton & Chen. After 17 months, the High Court of Malaya in Kuala Lumpur entered judgment against Emas Fintech and its CEO, Jason Kellady, for the harm inflicted on Neurogine Capital and Neurogine Group CEO Owen Chen Chee Onn.

The judgment restricts both defendants, Emas Fintech and Jason Kellady, from further publishing any defamatory materials, be it in audio or video form, against Neurogine Capital and Neurogine Group CEO Owen Chen. Neurogine Capital's lead counsel Alex Anton Netto said this decision by the High Court clearly vindicates Neurogine Capital and would hopefully repair much damage caused to its reputation brought upon by both Emas Fintech Inc and Jason Kellady respectively.

Neurogine Capital terminated its relationship with Emas Fintech December 4, 2020, and its access to Neurogine Capital's money broking platform, branded as Neurogine nTrade®, following discoveries of various Emas Fintech abuses and misrepresentations. Following the termination, Kellady publicised videos on social platforms where he blamed Emas Fintech's losses due to alleged security breaches suffered by Neurogine nTrade®. Emas Fintech ceased operations, refused to refund its customers and its management has gone into hiding. "Kellady's claims that our platform, Neurogine nTrade®, as having been hacked, is entirely false, spurious and meant to misled," said Chen.
 
In June last year, Neurogine Group CEO Chen Chee Onn was fully exonerated after having found to have nil involvement with regard to the Emas Fintech Inc investment fraud case (Case 14058/2020) following receipt of Ref: (PR) 168/17, dated June 11, 2021, from Commercial Crime Investigation Division (CCID), Brickfields District Police Headquarters, Kuala Lumpur. In the same document, CCID also informed it has submitted its investigation report to the Deputy Public Prosecutor, which has reviewed and then closed the investigation. Two individuals found guilty have been brought before Court and charged under Section 420 of the Penal Code.

Neurogine Capital is part of Neurogine Group and operates a money broking service, known as Neurogine nTrade®. Launched in 2020, Neurogine nTrade® is a highly secured platform and delivers price improvement with multi-pairing features, operating in the jurisdiction of Labuan International Business and Financial Centre and licensed by its regulator, Labuan Financial Services Authority, to provide Labuan money broking services. "Neurogine nTrade® has sufficiently matured and processed more than USD27.7 million worth of money brokering transactions in June 2022 from just USD3.7 million in January 2022. This growth reflects confidence in our platform," said Chen.

Neurogine Capital (L) Ltd, Business Suite 1620, Level 16 (A), Main Office Tower, Kompleks Kewangan Antarabangsa Labuan, Jalan Merdeka, 87000 Labuan, Malaysia
Contact: +60320274781
Press Contact: info@neurogine.com

ABOUT NEUROGINE CAPITAL (L) LTD (LL15607)
Neurogine Capital provides money broking services with its platform Neurogine nTrade® for licensed financial institutions, licensed Money Services Businesses and corporate users in 2020 and currently to individual users. The platform is driven by Artificial Intelligence (AI) to offer multi pairing, multi routing and price transparency features. It access various global exchanges and capable of aggregating true price improvements. Neurogine nTrade® is operated and wholly developed by Neurogine Capital, regulated and licensed by Labuan Financial Services Authority to operate money broking operations (MB/19/0033) and approved payment system operations.
http://www.ntrade.com.my

ABOUT NEUROGINE GROUP
Neurogine Group provides mobile banking platforms, mobile broking platforms and others to financial institutions and corporate users in Asia. Neurogine Group's mobile banking and mobile payment solutions have been adopted for use by banks and financial institutions in Cambodia, Myanmar, Indonesia, Bhutan and others. Neurogine Group's flagship products include Neurogine nPay®, a fully integrated mobile payment solution with geo-location conveniences and payment options for Ali Pay, WeChat Pay, Union Pay, Visa and Mastercard, Neurogine nBank®, a full suite of mobile banking platform, Neurogine nCard®, a tokenised mobile payment platform and Neurogine nTrade®, a mobile money broking platform. Neurogine Group includes Neurogine Sdn Bhd 1096943-U its financial technology development and investment arm based in Petaling Jaya, Selangor, as well as Neurogine Capital (L) Ltd (LL15607) and Neurogine DX (L) Ltd (LL15609) and which are based in Labuan and licensed by Labuan Financial Services Authority (LFSA) to operate money broking operations, payment system operations and credit token operations respectively.
http://www.neurogine.com

This release was published on openPR.