KUALA LUMPUR: Land and Cooperative Development Minister Tan Sri Kasitah Gaddam was charged in the Sessions Court in Kuala Lumpur Thursday with a corruption and a cheating charge involving Sapi Plantation Sdn Bhd shares held by the Sabah Land Development Board.
He pleaded not guilty to committing the offences in 1996 in his capacity as executive chairman of the Board.
Kasitah is alleged to have used his position for his financial gain by taking part in deliberations to approve a proposal for the sale of 16.8 million shares held by the Board in Sapi Plantantation to Briskmark Enterprise Sdn Bhd, where he was promised 3.36 million shares in Sapi Plantations.
He is alleged to have committed the offence at the Forum Meeting Room in the Fairlane Hotel here on Oct 22, 1996.
The charge, under Section 2 (1) of the Emergency (Essential Powers) Ordinance No 22 1970, carries a maximum jail term of 14 years and a maximum fine of RM20,000, or both, on conviction.
He faces a second charge of allegedly deceiving the Board, at the same time and place, by concealing the offer by PPB Oils Palms Sdn Bhd to provide five PBB Oil shares for each Sapi Plantation shares in the proposals by PBB Oils to be listed on the KLSE main board.
Kasitah, represented by Datuk Muhammad Shafee Abdullah, was charged under Section 417 of the Penal Code, which carries a maximum jail term of five years, or fine, or both upon conviction.
Judge Rosenani Abdul Rahman granted him bail of RM1mil.
Earlier report:Kasitah arrested for alleged abuse of power
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