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Company directors accused of embezzling RM10.55mil KUALA LUMPUR : Prominent Islamic finance figure Tan Sri Dr Mohd Daud Bakar and a company director have been charged with embezzling RM10.55mil.
Mohd Daud, 62, and Datuk Norliza Tajudin, 54, pleaded not guilty to seven charges before judge Suzana Hussin. According to the charge sheets, Mohd Daud and Norliza were the directors and shareholders of a trading company, Energy Eco Sdn Bhd, who were entrusted with monies belonging to one Moideen Kunjayu ; Koperasi Perumahan Sentul Pasar Kuala Lumpur Bhd ; former deputy minister at the Prime Minister’s Department Datuk Dr Mashitah Ibrahim ; and Myad Kapital Sdn Bhd .
Mohd Daud and Norliza were jointly accused of committing criminal breach of trust on the monies by using them and thus breaching contracts known as the Shareholder’s 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 agreement had stated that “the Company shall utilise the Shareholder’s Advance solely and exclusively for the operation and 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 between two and 20 years, whipping and liability for a fine, if convicted. Deputy public prosecutor Mahadi Abdul Jumaat told the court both parties have agreed to a RM100,000 bail with one surety for Norliza.
He also sought additional bail conditions requiring Norliza to surrender her passport to the court until the case is resolved and to refrain from communicating with prosecution witnesses. The prosecution stated that Mohd Daud’s defence team had also consented to a bail amount of RM100,000 with one surety. They noted that Mohd Daud had previously surrendered his passport at a different Sessions Court in relation to earlier cases.
Lawyer Adibah Farhana Abdul Hamid, who represented Norliza, asked the court to allow her client to raise 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.for breaking news alerts and key updates!
Company Directors Embezzling RM10.55Mil Mohd Daud Bakar Norliza Tajudin Energy Eco Sdn Bhd Criminal Breach Of Trust Penal Code Section 409 Bail Kuala Lumpur
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