KUALA LUMPUR (Aug 19): The chief financial officer of the company operating a private university in Nilai has been charged in the Seremban Sessions Court with criminal breach of trust (CBT) involving RM6.56 million in company funds, according to Bernama.
Noraini Aripin, CFO of Elmu Education Group Sdn Bhd (Elmu Group) — which runs the Enforcement, Leadership and Management University (Elmu) in Nilai — pleaded not guilty after the charge was read out to her before judge Datin M Kunasundary Marimuthu.
Noraini was accused of misappropriating RM6.56 million intended for ad valorem stamp duty payments to the Inland Revenue Board, redirecting the funds for other purposes. The alleged offence took place at the university's office between September 2025 and April this year.
She was charged under Section 409 of the Penal Code, which provides for up to 20 years' imprisonment, whipping and a fine upon conviction. The court granted bail at RM80,000 with two sureties and set Sept 21 for the next case mention. She was also ordered to surrender her passport and report monthly to the MACC.
Noraini's court appearance happened on the same day an Elmu Group subsidiary was named in a separate cheating case in the Kuala Lumpur Sessions Court.
In that case, former UBB Investment Bank Ltd was charged with deceiving a senior executive of UBB Amanah Bhd into releasing RM139.89 million to Elmu Higher Education Sdn Bhd by allegedly misrepresenting legal advice. Razlan pleaded not guilty and claimed trial to the charge before Sessions Court Judge Azura Alwi.
Elmu Higher Education is 97.24% owned by Elmu Group, according to checks with the Companies Commission Malaysia.
Noraini owns a 10% stake in Elmu Group, while the rest is held by Hakano Holdings Sdn Bhd (30%), AB Management & Consultancy Services Sdn Bhd (20%), CR Global Sdn Bhd (15%), Venture Pro Sdn Bhd (15%) and Ramssol Group Bhd (KL:RAMSSOL) (10%).
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