KUALA LUMPUR (Sept 8): Tan Sri Abu Sahid Mohamed, the owner of Maju Expressway, was charged on Monday for allegedly misappropriating over RM450 million. He pleaded not guilty.
Abu Sahid, the director of Maju Holdings Sdn Bhd that holds the expressway’s concession, faces four counts of criminal breach of trust involving RM313 million and 13 counts of money laundering amounting to RM139 million at the Sessions Court here.
"I understand...I plead not guilty," he said each time the court interpreter read out the charges before judge Suzana Hussin.
Abu Sahid, 74, came to the court in a wheelchair and an oxygen tank beside him.
His lawyer Datuk Hisyam Teh Poh Teik requested that his client be allowed to remain seated before the charges were read out in a packed courtroom.
If convicted for criminal breach of trust, Abu Sahid would be jailed for up to 20 years, caned, and liable to a fine. For the money laundering offences, he faces a prison sentence of up to 15 years and a fine of at least five times the value of the proceeds or RM5 million, whichever is higher.
The court then set bail at RM1.5 million and the surrender of Abu Sahid’s passport. Nov 3 is set for case management.
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The criminal breach of trust charges (under Section 409 of the Penal Code) were for movements of RM91.55 million in May-November 2016, RM171.48 million in January-November 2017, RM49.59 million in January-November 2018, and RM500,000 on Oct 21, 2019.
The money laundering charges under Section 4(1)(b) of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 were for the transfers of:
- RM22.1 million to See Hong Cheen (May 4, 2016)
- RM1 million to Goh Ming Yong (May 6, 2016)
- RM10 million to Wong Kichin (May 10, 2016)
- RM1.96 million to Golden Base Construction Sdn Bhd (June-October 2016)
- RM42.89 million to Econpile (M) Sdn Bhd (January-November 2017)
- RM500,000 to Lim Heng Suan (Sept 6, 2017)
- RM34.68 million to Econpile (M) Sdn Bhd via Alliance Bank (January-October 2018)
- RM1.67 million to Venus Asset Sdn Bhd (May 2018)
- RM1.15 million to Winsome Harvest Development Sdn Bhd (December 2018)
- RM500,000 to Tan Kim Hoe (October 2019)
The money laundering charges were also for funds totalling RM22.79 million withdrawn through cheques between 2016 and 2018.
All money transferred to third parties was from Abu Sahid’s CIMB account.
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