JOHOR BARU: Seven Chinese nationals, including students, were charged in the Magistrate’s 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, pleaded not guilty when the charge was read to them in Mandarin before magistrate Atifah Hazimah Wahab yesterday.
According to the charge sheet, the seven men conspired to carry out a fraudulent cryptocurrency investment scheme.
They allegedly committed the offence at two residential units in Forest City on Oct 1.
They were charged under Section 120B(2) of the Penal Code, 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 each in two local sureties.
Lawyer Lim Tyng Chieh, who represented Yuan, Li, Wang and Xiaojia, pleaded for a lower amount, noting that all four of his clients are independent contractors with fixed addresses in Forest City.
Lawyer Pang Yong Tong, who represented Hong, Zhou and Lu, also asked for lower bail, saying they are students and have fixed addresses in Forest City.
Atifah Hazimah set bail at RM7,000 each in two sureties and fixed Nov 11 for next mention.
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 granted bail of RM9,000 in 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 for bail pending verification of the duo’s travel documents by the prosecution.
