JOHOR BARU: Seven Chinese nationals, three of them students, have been charged in court here in connection with a cryptocurrency investment scam.
Hong Wei Xian, 25, Zhou Fu, 22, Chen Lu, 23, Yuan Shuping, 29, Li Yi, 30, Wang Tengfei, 30, and Chen Xiaojia, 33, claimed trial when the charge was read to them in Mandarin before Magistrate Atifah Hazimah Wahab on Friday (Oct 16).
The seven are accused of conspiring to carry out a fraudulent cryptocurrency investment scheme.
They allegedly committed the offence at two residential units in Forest City at about noon on Oct 1.
They were charged under Section 120B(2) of the Penal Code for criminal conspiracy, which carries a maximum jail term of six months, a fine, or both, upon conviction.
Deputy public prosecutor Sarah Siti Aisyah Mustapha Kamal asked the court to set bail at RM15,000 with two local sureties each.
However, lawyer Lim Tyng Chieh, who represented Yuan, Li, Wang and Xiaojia, pleaded for a lower amount, noting that his clients are independent contractors with fixed addresses in Forest City.
Lawyer Pang Yong Tong, representing Hong, Zhou and Lu, also asked for lower bail for his clients, saying that they are students and have fixed addresses in Forest City.
Atifah Hazimah later set bail at RM7,000 with two sureties each and fixed Nov 11 for the next mention for submission of documents.
In the same court, Hong was also charged under Section 6(1)(c) of the Immigration Act 1959/63 for not having valid travel documents and was allowed bail at RM9,000 with two sureties.
In a separate court, Zhou and Lu were also charged with the same immigration offence.
Magistrate A. Shaarmini fixed Nov 2 for the reapplication of bail pending verification of the duo's travel documents by the prosecution.
