GEORGE TOWN, July 16 — An information technology company director today pleaded not guilty at the Sessions Court here today to criminal breach of trust involving RM4.95 million in deposits from a man, four years ago.
S. Hariharan, 42, was charged for accepting the money from R. Karunamoorthy, 47, for investments without a valid license at Maybank Union Street branch here from March 25, 2016, to March 1, 2018.
The accused, who was wearing a tuxedo, was charged under Section 10 of the Financial Services Act 2013 (Act 758) and can be punished under Section 137 (1) of the same Act, which carries a maximum 10 years jail or a maximum fine of RM50 million or both, upon conviction.
Deputy Public Prosecutor Preeya Darrsini Sugumaran asked for bail to be set at RM100,000 with one surety and for the accused to surrender his passport to the court.
In mitigation, Hariharan represented by counsel P. Vijay Esvaren requested a lower bail of RM10,000 on grounds that the accused had cooperated throughout the investigation.
“In addition, the accused who owns a business premise in Bangsar is also affected due to the movement control order and unable to pay the RM3,000 rental for the past five months,” he said.
Judge Mazdi Abdul Hamid set bail at RM60,000 with one surety and ordered the accused to surrender his passport.
The court also ordered the accused to report to the nearest police station once every month and set August 28 for mention. — Bernama