KUALA LUMPUR: The High Court was told that Petra Group chairman Datuk Vinod Shekar had never disclosed his bankrupt status to a group of 12 foreign investors, who are suing him to claim back more than £2.5mil and US$3mil.
Briton Graham David Bell, 66, a managing partner of Bridge Partners FZE, testified on Monday (Oct 6) that he had made investments with Petra Equities Sdn Bhd (PESB), an investment holdings company under the Petra Group.
Bell was the only plaintiff to appear before the court to testify on behalf of himself and the rest of the plaintiffs, as instructed by the court.
According to Bell's witness statement, he and the other plaintiffs were "similarly unaware" of Vinod's purported bankrupt status throughout the investment period.
"In fact, when the 11th plaintiff specifically queried the 1st defendant on his bankruptcy via email dated Sept 30, 2010, the first defendant brushed it off and appeared to suggest that one ‘Anwar’ would attend to the matter, who I believe referred to the current Prime Minister, Datuk Seri Anwar Ibrahim.
"Had I known the first defendant was financially unstable, I would not have invested in any companies within the Petra Group or related to the first defendant," Bell stated.
Bell claimed Vinod used his health problems, political situations, as well as the Covid-19 pandemic, to deflect when queried by the plaintiffs.
Bell said his investment, totalling US$250,000, ultimately resulted in the disappearance of the funds.
Last year, Bell and the other 11 plaintiffs launched the lawsuit against Vinod as the first defendant and his wife, Winy Yeap, as the second defendant.
They are claiming that Vinod committed fraud, misrepresentation and breach of contract, while Yeap conspired with him to perpetuate the same fraud, misrepresentation and breach of contract against the plaintiffs.
They are seeking to claim back the total sum of £2,540,361.24 and US$3,042,163.01 with interests, damages and other reliefs deemed fit by the court.
The hearing continues before Judicial Commissioner Muhammad Adam @ Edward Abdullah tomorrow (Oct 7).
