KUALA LUMPUR: The Sessions Court here ordered a former financial consultant to enter his defence on one charge of deceiving the Intellectual Property Corporation of Malaysia (MyIPO) related to an investment scheme amounting to RM85,530,000 and four charges of money laundering involving RM3.9mil.
Judge Suzana Hussin made the ruling on Monday (Sept 23) after finding that the prosecution had successfully established a prima facie case against Datuk Ahmad Azwan Aboo Mansor, 54.
"After reviewing all the evidence presented by the prosecution witnesses and the arguments from both parties, the court finds that the prosecution has established a prima facie case for all charges, and the accused is ordered to enter his defence," said Suzana, scheduling the defence proceedings from Nov 13 to 15.
Ahmad Azwan’s lawyer, Harjinder Singh Sandhu, informed the court that his client had chosen to testify under oath during the proceedings, and approximately six defence witnesses would be called.
On July 9, 2020, Ahmad Azwan was charged with deceiving MyIPO by misleading senior officials of the corporation into investing in a scheme named BIMB i-Fund (Money Market Instrument/Fixed Deposit), promising a return of six percent per annum, when in fact, it was a unit trust investment known as the BIMB i-Dividen Fund.
He is accused of fraudulently inducing MyIPO to transfer RM85,530,000 to be invested in a BIMB account registered under BIMB Investment Management Berhad (i Dividend), which it would not have done otherwise.
The offence allegedly took place in the Ixora Meeting Room, MyIPO, Level 19, Tower B, UOA Tower, Bangsar, at 10 am on Nov 25, 2015.
Ahmad Azwan was charged under Section 420 of the Penal Code, which carries a penalty of between one and ten years imprisonment, along with caning and the possibility of a fine, upon conviction.
He was also ordered to enter his defence on four charges of money laundering involving RM3.9mil at the Bank Islam branch in Taman Melawati, between January 2016 and December 2017, under Section 4(1)(b) of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001.
Deputy public prosecutors Mohd Afif Ali, Haresh Prakash Somiah, and Rozalina Zakaria appeared for the prosecution. – Bernama
