MELAKA: A man has claimed trial at the Sessions Court here for allegedly running non-existent online investment schemes.
The plea of the accused, Iskandar Ishak, was recorded before Judge Maziah Joary Mohd Tajudin on Wednesday (July 14).
He was charged with three counts framed under Section 137(1) of the Financial Services Act 2013.
The accused faces imprisonment not exceeding 10 years, or a fine not exceeding RM50mil, or both, if convicted.
Based on the charge sheet, Iskandar had allegedly received an amount of RM125,000 from three individuals at Jalan Hang Tuah here between May 10 to June 27, 2016.
The accused had asked for funds to be deposited in a bank account under his company, I Usahawan Global Berhad, which did not have permit under Section 10 of the Financial Services Act 2013 to collect money for the purpose of investment.
The accused, who was represented by counsel Zulhelmi Wagiman, was later granted RM30,000 bail and was ordered to report to the nearest police station every month until the end of the proceedings.
The court also fixed Aug 16 for next mention.
In the Magistrate's Court, Iskandar pleaded not guilty to cheating a 46-year-old man over the purchase of a high-powered motorcycle for RM32,000 in October 2016.
He was charged under Section 420 of the Penal Code, which carries a maximum jail term of 10 years, whipping and a fine.
The accused was alleged to have committed the offence at Jalan Durian Daun on Oct 26, 2016.
Magistrate Lee Kim Keat granted bail of RM1,500 and fixed Sept 14 for next mention.