KUALA LUMPUR: A former financial consultant has been ordered to enter his defence on one charge of deceiving the Intellectual Property Corporation of Malaysia (MyIPO) related to an investment scheme amounting to RM85.53mil and four charges of money laundering involving RM3.9mil.
Sessions Court judge Suzana Hussin made the ruling after finding that the prosecution had established a prima facie case against Datuk Ahmad Azwan Aboo Mansor, 54.
She scheduled the defence proceedings from Nov 13-15, Bernama reported.
Ahmad Azwan’s lawyer Harjinder Singh Sandhu informed the court that his client has chosen to testify under oath during the proceedings, and about six defence witnesses would be called.
On July 9, 2020, Ahmad Azwan was charged with deceiving MyIPO by misleading senior officials into investing in a scheme named BIMB i-Fund, promising a return of 6% per annum, when in fact, it was a unit trust investment known as BIMB i-Dividend Fund.
He is accused of fraudulently inducing MyIPO to transfer RM85,530,000 to a BIMB account registered under BIMB Investment Management Bhd (i-Dividend), which it would not have done otherwise.
The offence allegedly took place in the Ixora Meeting Room, MyIPO, Level 19, Tower B, UOA Tower, Bangsar, at 10am on Nov 25, 2015.
Ahmad Azwan was charged under Section 420 of the Penal Code, which carries a penalty of between one and 10 years’ imprisonment, along with caning and the possibility of a fine, upon conviction.
He was also ordered to enter his defence on four charges of money laundering involving RM3.9mil at the Bank Islam branch in Taman Melawati, between January 2016 and December 2017, under Section 4(1)(b) of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001.
