A BUSINESSMAN holding the title Datuk Seri has been charged with criminal breach of trust involving nearly RM37.1 million belonging to a company he was a director of.
Zul Azmi Abu Hussin, 51, pleaded not guilty at the Sessions Court today to misappropriating RM37,099,999.67 from Xspec Resources Sdn Bhd, where he was entrusted with managing the company’s funds.
The alleged offence was committed at a bank in Taman Tunku, Bukit Tunku, Kuala Lumpur, on Feb 15, 2022.
He was charged under Section 409 of the Penal Code, which provides for a maximum jail term of 20 years, whipping and a fine upon conviction.
Deputy public prosecutor Siti Suriatey Mohamed Yusoff applied for bail at RM500,000 with one surety and requested that Zul Azmi’s passport be surrendered to the court until the conclusion of the trial.
However, defence lawyer Edly Mohammad Firdaus sought a lower bail amount of RM50,000, saying his client has a wife, five children and elderly parents who depend on him.
The lawyer also told the court that Zul Azmi has health issues involving high cholesterol and high blood pressure, and had cooperated with investigators before being charged.
Sessions Court judge Mohd Kafli Che Ali later set bail at RM100,000 with one surety, along with the additional conditions requested by the prosecution.
The case has been fixed for mention on Oct 5. – August 14, 2026
