KUALA LUMPUR (Oct 23): A former company director, Datuk Seri Liew Kok Leong, has been charged with criminal breach of trust (CBT) of over RM5.5 million funds belonging to a private limited entity, in addition to money laundering.
Liew, 53, claimed trial to both charges, which were read separately before Sessions Court judges Ilmami Ahmad and Suzana Hussin on Friday.
He was charged with one count of CBT for misappropriating RM5.5 million belonging to ARB Development Sdn Bhd, which was meant for purchasing 51% equity shares (equivalent to 255,000 units of ordinary shares) of C&M Renewable Energy Technology Sdn Bhd.
Liew is also accused of transferring the sum to the account of Messrs Ivan & Co, which was later to be transferred to a Maybank account belonging to one Er Yan Shuen, to purchase three office shoplots in Ipoh, Perak.
The offence allegedly took place between May 2019 and June 2019.
The charge was framed under Section 409 of the Penal Code, and if found guilty, Liew faces imprisonment of between two and 20 years, whipping, and is also liable to a fine.
For the money-laundering charge, Liew is accused of directing Er to transfer proceeds from unlawful activity amounting to RM403,000 from Er's Maybank account to Permata Global Sdn Bhd's CIMB account.
The offence allegedly took place in June 2019.
The charge was framed under Section 4(1)(a) of the Anti-Money Laundering Act (AMLA) and carries a punishment of a maximum 15 years’ imprisonment and a fine of not less than five times the sum or value of the proceeds from unlawful activity, or RM5 million, whichever is higher.
Bail set at RM200,000
Judge Ilmami set bail at RM200,000 with Liew's passport to be surrendered to the court. He also has to report to the authorities the first week of every month and is not to harass any potential witnesses.
Judge Suzanna, who presided over the money-laundering charge, adopted the same bail amount and terms set by Ilmami.
She also allowed the prosecution's application to transfer the money-laundering charge to Ilmami's court so it can be heard together with the predicate charge.
Liew and family's bank accounts frozen
Earlier, deputy public prosecutor Julianazriana Jaafar suggested bail of RM500,000, given the large sum involved in the offence.
Liew's lawyer Zander Lim Wai Keong argued for a lower bail amount as Liew and his family's bank accounts have been frozen due to ongoing investigations.
The lawyer from the Law Chambers of Zander Lim instead suggested bail of RM50,000, because if Liew’s passport has been surrendered to the court, there would be no flight risk.
The case comes up for mention again on Dec 10.