KUALA LUMPUR: A couple has been sentenced to four years in prison after being found guilty of obtaining over RM300,000 in deposits without a valid investment licence nine years ago.
Sessions Court judge Mohd Kafli Che Ali found former businessman Ho Kok Keong, 62, and his wife Koh Orchid, 51, guilty on the grounds that they had failed to raise a reasonable doubt on the prosecution’s case.
“After reviewing testimonies from both the prosecution and defence witnesses, the court finds the accused guilty,” said the judge, who also ordered both defendants to begin serving their sentences from yesterday, Bernama reported.
However, the court later granted the request of the couple’s lawyer Sean Dudley to stay the execution of the sentence pending an appeal, by increasing their bail from RM15,000 to RM30,000.Ho and Koh were charged with illegally taking deposits for investment purposes, amounting to RM364,000, from Lee Kuan Peng, 51, at a restaurant in Sentul on Dec 16, 2015, and April 16, 2016.
The husband-and-wife pair were charged under Section 137 (1) of the Financial Services Act 2013.
