EVERY sector speaks the language of best practices. In business, the focus is on efficiency and competitiveness, in education, on quality and innovation, in public health, on saving lives and reducing long-term costs.
KUALA LUMPUR : Prominent Islamic finance figure Tan Sri Dr Mohd Daud Bakar and a company director claimed trial at the Sessions Court here over allegations of criminal breach of trust involving RM10.55mil.
Mohd Daud, 62, and Datuk Norliza Tajudin, 54, pleaded not guilty to seven charges before judge Suzana Hussin here on Monday. According to the charge sheets, Mohd Daud and Norliza, who were directors and shareholders of trading company Energy Eco Sdn Bhd, were entrusted with monies belonging to an individual, Moideen Kunjayu , Koperasi Perumahan Sentul Pasar Kuala Lumpur Berhad , former deputy minister in the Prime Minister’s Department Datuk Dr Mashitah Ibrahim and Myad Kapital Sdn Bhd .
They were jointly accused of committing CBT on the monies by using them, thus breaching contracts known as the Shareholders’ Advance Agreements dated June 22, 2021, Jan 19, 2022, April 1, 2022, April 27, 2022, Dec 6, 2022, April 5, 2023 and May 12, 2024, signed with all the shareholders. The agreements stated that"the company shall utilise the shareholders’ advance solely and exclusively for the operation and/or expansion of its glove trading business and its compliance with syariah".
The offences were allegedly committed at Maybank Islamic Bhd in Taman Setiawangsa and RHB Islamic Bank Bhd, Bangsar Shopping Centre, between June 22, 2021 and May 12, 2024. They were charged under Section 409 of the Penal Code, which carries imprisonment of between two and 20 years, with whipping and a fine, if convicted. Deputy public prosecutor Mahadi Abdul Jumaat told the court both parties had agreed to bail of RM100,000 in one surety for Norliza.
He also sought additional bail conditions for Norliza to surrender her passport to the court until disposal of the case, and not to communicate with prosecution witnesses. For Mohd Daud, the prosecution said his defence had also agreed to bail of RM100,000 in one surety and that he had already surrendered his passport at a different Sessions Court for previous cases.
Lawyer Adibah Farhana Abdul Hamid, who represented Norliza, asked the court to allow her client to pay bail in two instalments. Judge Suzana then fixed bail at RM100,000 in one surety for each of the accused and allowed Norliza’s bail to be paid in instalments. Customs seize nearly RM1.19mil in drugs, cash and liquor at KLIA
KUALA LUMPUR Tan Sri Dr Mohd Daud Bakar Islamic Finance Criminal Breach Of Trust RM10.55Mil Moideen Kunjayu Energy Eco Sdn Bhd Glove Trading Business Section 409 Penal Code RM100 000 Bail
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
PAS non-Muslim wing holds first conventionThe non-Muslim supporters wing was made an associate wing of the Islamic party in September last year.
Read more »
‘Wakaf’ spirit lives on as Narathiwat museum showcases 1,000-year-old Malaysian-linked Quran manuscriptsNARATHIWAT, May 10 — Islamic heritage across the Nusantara shows that geographical boundaries are no barrier to bonds of brotherhood, the pursuit of knowledge and the enduring...
Read more »
Islamic finance figure Daud Bakar, director charged with RM10.55mil CBTDuo slapped with seven charges in the sessions court today.
Read more »
Mohd. Daud, Norliza didakwa pecah amanah RM10 jutaTokoh kewangan Islam, Tan Sri Dr. Mohd. Daud Bakar dan Pengarah Syarikat Energy Eco Sdn. Bhd., Datuk Norliza Tajudin didakwa di Mahkamah Sesyen hari ini atas tujuh pertuduhan pecah amanah wang berjumlah RM10.55 juta, lima tahun lalu.
Read more »