IPOH, March 19 — A former senior manager of a multinational company claimed trial to two counts of dishonestly receiving stolen funds amounting to RM2.1 million belonging to an Indonesian company three years ago.

VN Vemal, 36, pleaded not guilty to both charges when they were read before Magistrate S. Punitha.

For the first charge, Vemal was accused of receiving RM735,294.11 into his Maybank account at a branch along Jalan Sultan Idris Shah here on July 26, 2023, knowing the funds belonged to PT Steelindo Wahana Perkasa, a subsidiary of Kuala Lumpur Kepong Berhad.

For the second charge, he was accused of receiving RM1,447,521.87 into his bank account under similar circumstances at the same location on August 15, 2023.

Both charges are framed under Section 411 of the Penal Code, which carries a maximum sentence of five years’ imprisonment, or a fine, or both upon conviction.

Deputy Public Prosecutor S. Nishaalini prosecuted, while lawyer Aashwini Rajan represented Vemal.

Nishaalini requested bail to be set at RM15,000 for each charge with two sureties, along with an additional condition requiring the accused to report regularly to a police station.

However, Aashwini appealed for lower bail of RM5,000, citing that her client is currently unemployed.

Punitha then set bail at RM8,000 for both charges with one surety and ordered the accused to surrender his passport to the court as an additional condition.

The case has been fixed for mention on May 8.

Previously, on January 23, Vemal was charged with two separate offences involving more than RM1.4 million belonging to another Indonesian company.

For the first charge, he was accused of dishonestly receiving stolen property by accepting RM1,479,289.94 into his Maybank account, knowing that the money belonged to PT Parit Sembada, a subsidiary of Kuala Lumpur Kepong Bhd, and was stolen property.

For the second charge, he was accused of dishonestly concealing property by transferring RM1,082,005 from a Maybank account in his name to a company account, despite knowing that the money belonged to PT Parit Sembada.

Both offences were allegedly committed at a Maybank branch along Jalan Sultan Idris Shah on September 29, 2023.