KUALA LUMPUR: Former ARB Development Sdn Bhd director Liew Kok Leong was charged today with criminal breach of trust (CBT) involving RM5.5 million and money laundering involving RM403,000.
Liew, 53, pleaded not guilty to both charges, which were read before separate sessions court judges – Ilmami Ahmad and Suzana Hussin.
Before Ilmami, Liew claimed trial to a CBT charge involving the alleged misappropriation of RM5.5 million belonging to ARB Development, which was intended to finance the purchase of a 51% equity stake, comprising 255,000 ordinary shares, in C&M Renewable Energy Technology Sdn Bhd.
He is accused of transferring the funds to Messrs Ivan & Co for onward transfer to a bank account belonging to Er Yan Shuen, purportedly for the purchase of three office lots in Ipoh, Perak.
The offence allegedly took place between May and June 2019.
The charge was framed under Section 409 of the Penal Code, which provides for imprisonment of between two and 20 years, whipping and a fine upon conviction.
Ilmami set bail at RM200,000 and ordered Liew to surrender his passport to the court pending the disposal of the case. Liew was also required to report to the Malaysian Anti-Corruption Commission office once a month.
Before Suzana, Liew was charged with money laundering involving RM403,000, by allegedly directing Er to transfer the proceeds of unlawful activity from his Maybank account to Permata Global Sdn Bhd's CIMB Bank account on June 15, 2019.
The charge was framed under Section 4(1)(a) of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001.
The section provides for imprisonment of up to 15 years and a fine of at least five times the value of the proceeds of unlawful activity or RM5 million, whichever is higher, upon conviction.
Suzana adopted the bail amount set by Ilmami.
Lawyer Zander Lim represented Liew while deputy public prosecutor Julianazriana Jaafar appeared for the prosecution.