JOHOR BARU, March 22 — A former president and chief executive officer (CEO) of government-linked company, Johor Corporation (JCorp), claimed trial in the Sessions Court here today for fraudulently investing RM9.47 million about three years ago.
The accused, Datuk Kamaruzzaman Abu Kassim made the plea after the charge was read to him before Judge Wan Mohd Norisham Wan Yaakob.
Kamaruzzaman, who was then the JCorp president and CEO, is accused of cheating by deceiving the corporation’s board members by not informing them of World Logistic Council Limited's true position.
He was alleged to have dishonestly persuaded JCorp's board of directors to agree to his presentation that a temporary fund of US$5 million (RM21 million) was approved which resulted in a total of US$1 million from the temporary fund being invested in the World Logistic Council, while US$1.25 was invested in World Logistic Council Americas LLC, whose board members would not have done so if they had not been deceived.
The act was allegedly committed at the Board of Directors meeting room on the 25th Floor, Menara Komtar in Johor Baru, Johor between 9.30am to 1.45pm on July 8, 2019.
The offense is charged under Section 420 of the Penal Code and is punishable under the same section.
Earlier, Deputy Public Prosecutor Zander Lim Wai Keong applied to the court to set bail at RM200,000.
Meanwhile, the accused's lawyer, K. Ragunath, applied for a lower bail of RM50,000 on the grounds that his client had not worked for the past three years.
“Kamaruzzaman had cooperated throughout the Malaysian Anti-Corruption Commission (MACC) investigation, besides informing that he will soon be performing his umrah in the holy land and will return on April 18.
“His passport is also in the custody of the travel agent for that purpose," he said.
Wan Mohd Norisham then allowed the accused bail of RM150,000 with one surety and the additional condition of handing over his international passport to the court.
The accused must also report to the MACC once a month and is not allowed to harass witnesses, including contacting or meeting with them.
The court then set May 25 as the date for re-mention of the case and submission of documents.
