KUALA LUMPUR (May 11): Islamic finance expert Tan Sri Dr Mohd Daud Bakar has been charged again, this time for allegedly embezzling over RM10 million with a company director.
Mohd Daud, 62, and Datuk Norliza Tajudin are jointly charged under Section 409 of the Penal Code with seven counts of criminal breach of trust that included RM2 million belonging to former deputy minister Datuk Dr Mashitah Ibrahim.
Both Daud and Norliza, 54, claimed trial to the charges before Sessions Court judge Suzana Hussin.
They are charged as directors and shareholders of Energy Eco Bhd, and accused of violating an agreement that restricts funds from investors “exclusively for the funding of the construction and expansion of production capacity of its glove manufacturing business and in compliance with shariah”.
The alleged crime, allegedly carried out between June 22, 2021, and May 15, 2024, also involved funds belonging to Koperasi Perumahan Sentul, Myad Capital Sdn Bhd and Moideen Kunjayu.
If convicted, they face a jail term of two to 20 years and are liable to whipping as well as a fine on conviction for each charge.
Bail is set at RM100,000 with one surety each for Norliza and Daud. They are also required to report to the nearest Malaysian Anti-Corruption Commission office and barred from communicating with proposed witnesses, according to deputy public prosecutor Mahadi Abdul Jumaat.
The court set June 19 for case mention.
Daud, the former chairman of the shariah advisory councils for Bank Negara Malaysia and also for the Securities Commission, had been charged in February with conspiring with AUF MBZ Consortium PLT with two others to trade in securities without a Capital Market Services License (CMSL).
Daud is represented by Datuk Hamidi Md Noh of Messrs Shahrul Hamidi & Haziq, who informed the court that they will be writing a representation after receiving documents for the earlier charge. Zahida Md Zaman of Messrs Shaikh Harun & Co is the counsel for Norliza.