IPOH: A former senior manager of a multinational company has been charged with dishonestly receiving and concealment of RM1.4mil in stolen money.
Vemal Venugopal Naidu, 36, pleaded not guilty to the charges under Sections 411 and 424 of the Penal Code before Magistrate S. Punitha here on Friday (Jan 23).
In the first charge, Vemal is said to have dishonestly received a sum of about RM1.4mil, which belonged to a subsidiary of the multinational, into his bank account knowing that the money was stolen property, at a bank on Jalan Sultan Idris Shah here on Sept 29, 2023.
In the second charge, the accused was said to have disposed of the money by moving it from his bank account to a different account on the same day at the same location.
Both charges carry a punishment of up to five years' jail, or a fine, or both upon conviction.
Deputy public prosecutor Muhammad Zulqarnain Wan Asmira proposed bail of RM15,000 for both charges and for Vemal to surrender his passport to the court.
"The accused was found in Indonesia and brought back to be charged," he said.
Vemal's counsel Gurbachan Singh said his client is currently unemployed and requested a lower bail amount.
Magistret Punitha set bail at RM7,000 with one surety and ordered Vemal to surrender his passport to the court.
She also set March 19 for mention.
When met outside the courtroom, Gurbachan Singh said his client had worked in Indonesia but was arrested in Miri, Sarawak, recently.
"He was only brought back to Ipoh yesterday (Thursday, Jan 22)," he added.
