KUALA LUMPUR, Dec 24 — An insurance agent pleaded not guilty at the Sessions Court here today to a charge of deceiving a man by posing as a director of a financial management company, causing the victim to suffer a loss of RM900,000.

Teong Chooi Tim, 33, is charged with defrauding a 33-year-old individual by deceiving the victim into believing that the accused was the director of the company and offering him a lucrative return on investment with a business capital payment of RM900,000, when he was not the director of the company.

The act prompted the victim to transfer money totalling RM900,000 through 31 transactions into 17 accounts, which the victim would not have handed over if he had not been so deceived.

The offence was allegedly committed at a residential unit in Persiaran Alam Damai, Cheras, near here, between November 25 and December 22, 2023.

The accused was charged under Section 420 of the Penal Code which, if convicted, carries a maximum sentence of 10 years and whipping and may also be fined, if convicted.

Deputy Public Prosecutor Batrisyia Mohd Khusri offered bail of RM50,000 with two sureties and additional conditions that the accused surrender his passport to the court and report to the nearest police station until the case is resolved.

Lawyer Ng Mei Yi representing Teong applied for a lower bail on the grounds that her client was not rich and had to bear the medical costs of his elderly father in addition to suffering from a chronic illness.

Judge Norma Ismail allowed the accused bail of RM10,000 with one surety along with additional conditions requested by the prosecution and set January 27 for mention of the case. — Bernama