Malaysia

Eight fined RM3,000 for peddling non-existent investment schemes

The two Chinese nationals and 6 locals pleaded guilty to the charge 

Updated 5 years ago · Published on 11 Dec 2020 8:37PM

Eight fined RM3,000 for peddling non-existent investment schemes
Eight members of a syndicate have been fined RM3,000 each for contravening Section 420 of the Penal Code, offering non-existent online investment schemes. – Pixabay pic, December 11, 2020

KUALA LUMPUR – Eight people including a woman were fined RM3,000 each, in default of two months’ jail by the magistrate's court here for offering non-existent online investment schemes, last month.

Magistrate Mohamad Fared Abdul Latif meted out the sentence after they pleaded guilty to the charge.

The accused were two Chinese nationals – Long Ke, 29, and Chen Guo Rong, 24, – five local men, Tee Ming Shen, 35, Thong Kai Zong, 23, Heng Suan Ping, 18, Ong Chew Wie, 23, and Ong Lim Zhi Hou, 20, as well as local woman Lai Lok Yau, 22.

The investment scheme syndicate members were charged with offering non-existent investments contrary to Section 420 of the Penal Code, at a hotel in Jalan Changkat, Bukit Bintang here, between 5pm and 8.35pm on November 28.

The charge, framed under Section 120B (2) of the Penal Code, carries a maximum jail term of six months, or a fine, or both. 

Deputy public prosecutor Abdul Khaliq Nazeri asked the court to impose an appropriate sentence to serve as a lesson to the accused. 

Counsel P. Muniswer, representing the accused, pleaded for leniency saying that all his clients had promised not to repeat the same offence.

However, 21 Chinese nationals aged between 17 and 30, who were also members of the same syndicate and accused of committing the same offence, pleaded not guilty to the charge.

Fared did not allow bail to all the accused and set December 30 for mention.

Meanwhile, two of the accused, namely He Jia En, 25, and Chen Rong, 19, also pleaded not guilty to entering Malaysia and staying in the country without valid passes.

The duo were alleged to have committed the offence in the compound of the Dang Wangi District Police Headquarters Commercial Criminal Investigation Department office at 4.30pm on December 2.

The charge was framed under Section 6 (1) (C) of the Immigration Act 1959/1963 (Amendment 2002) and punishable under Section 6 (3) of the law.

The court did not allow the accused bail and fixed February 22 for case mention. – Bernama, December 11, 2020

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