Firm, director, manager charged over RM3.88 mln deposit taking

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KOTA KINABALU: A Kuala Lumpur-based company, its company director and branch manager were charged at the Sessions Court here yesterday with fraudulently receiving cash deposits amounting to RM3.88 million from the public.

The company, Worldwide Far East Sdn Bhd, its director, Datuk Noor Ismahanum Mohd Ismail, 34, and Kota Kinabalu branch manager, Yong Thain Vun, 46, denied all the charges against them before Judge Azreena Aziz.

The court fixed June 16–27, this year for trial and March 3, this year for the case management.

On the first case, Worldwide Far East Sdn Bhd, company registration no. 927191-P, is charged with receiving deposits without a license under Section 6 (4) of the Banking and Financial Institutions Act 1989 through a gold investment scheme initiated between December 28, 2010 and April 23, 2012 at Wisma Fook Loi, Jalan Gaya, Kota Kinabalu

The offence under Section 25 (1) and punishable under Section 103 (1) (a) of the Banking and Financial Institutions Act 1989 carries a maximum fine of RM10,000,000 or a maximum of 10 years jail or both, upon conviction.

On the second case, Datuk Noor faced two charges for receiving deposits through the same scheme without license as a company director, between December 6, 2010 and December 28, 2010 at the Marina Court, Jalan Tun Fuad Stephens and between December 28, 2010 and April 23, 2012 at Wisma Fook Loi, Jalan Gaya, respectively.

On the third case, Yong is accused of abetting Datuk Noor in receiving the deposits at Wisma Fook Loi, between November 6, 2010 and April 23, 2012.

The prosecution, led by prosecuting officers, Fahmi Abd Moin and Siti Nabila Huda of Bank Negara Malaysia, proposed bail of RM100,000 with one local surety for each of the accused.

Goldam for Datuk Noor informed the court that his client is also facing 57 charges for similar offences in Kuala Lumpur and that her case there and Kota Kinabalu would be jointly tried. He also informed that there is an application to the High Court of Kuala Lumpur for the bail amount for the accused to be reduced

Goldam pleaded for Datuk Noor to be further remanded at the Kajang Women’s Prison, Selangor and not in Kota Kinabalu as she is unable to pay her bail amount here.

Meanwhile, counsel Chin Teck Ming representing Yong, proposed for a lower bail as Yong is a local staying in Penampang. Chin said that there would be no issue of Yong absconding as he had dutifully faced his charge in court yesterday.

The court ordered for all three cases to be consolidated and set a bail of RM50,000 in one surety, with RM25,000 to be deposited immediately, and for their passports to be deposited with the court

The prosecution is expected to call between 20 and 25 witnesses during the trial.