BUTTERWORTH – Two men were charged at the sessions court here today on 60 counts of accepting deposits totalling RM749,900 for investment purposes without a valid licence over the past three years.
Investment company managing director Mohd Nasri Abdul Rahim, 53, and chief executive officer Abdul Wahab S. Mohd Mydin, 36, pleaded not guilty to all the charges read before judge Noor Aini Yusof and judge Norhayati Mohamad Yunus respectively in two separate courtrooms.
In the courtroom, as per the charge sheet, Nasri was charged with 27 counts of accepting deposits without a valid licence from three victims between April 2019 and February 14, 2020, committed around Penang and Selangor.
Wahab was charged with two similar charges against the same victim, on the same date and location.
The second courtroom saw the duo also charged with abetting to receive the deposit from each other – whereby Nasri was charged with three counts of abetting, and Wahab was charged with 28 counts of the same offence.
For the charge of accepting deposits without a valid licence, they were charged under Section 137 (1) of the Financial Services Act 2013 which is punishable under Section 137 (2) of the same act which carries a jail term of up to 10 years or a fine of up to RM50 million or both, if convicted.
While the charge of abetment was read together with Section 109 of the Penal Code.
Both courts allowed bail of RM172,000 to Nasri, and RM166,000 to Wahab respectively with one surety each, along with the additional condition of surrendering their passports to the court.
Nasri was represented by counsel S. Raveentharan while Wahab was represented by Muhamad Shahrul Nizam Md Roni, and deputy public prosecutors Nur Fazliyana Ahmad and Qatrin Harun appeared on behalf of the AGC.
Both courtrooms set the case for mention on August 1. – The Vibes, June 30, 2022
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