KUALA LUMPUR, Feb 16 — Datuk Harzani Azmi, a former managing director of Tanjung Offshore Berhad, an oil-and-gas services firm, was charged with falsely inflating its share acquisition prices to mislead the board, pocketing some RM13 million in a transfer deal.

The 49-year-old was slapped with two counts of money laundering while acquiring a 49 per cent stake in Gas Generators (M) Sdn Bhd at an inflated RM34.3 million when the actual price was only RM21 million, three years ago.

The charges at the Sessions Court were under Section 366 (1) (a) of the Companies Act 1965 and Section 4(1)(a) of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001.

If convicted under the Companies Act, he can be jailed up to 10 years, fined RM250,000, or both.

The anti-money laundering law also provides a maximum penalty of five years’ jail, RM5 million fine or both.

Sessions Court judge Mohd Nasir Nordin allowed a bail of RM200,000 for both charges and ordered him to hand over his passport today.

The court also set the case for its next mention on March 23.