Latest news with #criminalbreachoftrust
Malay Mail
3 days ago
- Malay Mail
Former admin assistant jailed, fined for CBT involving RM41,000 in Felda settlers death benefits
KUANTAN, June 30 — A former administrative assistant was today sentenced to three months' jail and a fine of RM20,000, in default six months in prison, by the Sessions Court here for criminal breach of trust (CBT) involving more than RM41,000 in death benefits of seven Felda settlers. Judge Sazlina Safie meted out the sentence on Nurul Syafiha Awang Za, 36, after she pleaded guilty to the charge. The judge ordered Nurul Syafiha to serve the jail sentence from today. The woman, who was then with the Felda office here, was charged as a person entrusted by one Roslan Kumin with RM41,652.42 in cash to be given as death benefits to the next of kin of seven Felda Sungai Panching settlers, to have committed CBT by dishonestly using the money for her personal use. The offence was committed at the Felda Sungai Panching Timur Office here between February 2018 and 2019. The mother of three was charged under Section 406 of the Penal Code, which provides imprisonment for not more than 10 years with whipping and is liable to a fine upon conviction. Prosecuting officer Kamariah Seman, from the Malaysian Anti-Corruption Commission (MACC), appeared for the prosecution, while Nurul Syafiha was represented by lawyer Datuk Syed Azimal Amir Syed Abu Bakar. — Bernama
CNA
25-06-2025
- Politics
- CNA
‘Serious misdirection': Malaysia's appeal court acquits former minister Syed Saddiq of 4 graft, money laundering charges
PUTRAJAYA: A former Malaysian minister was cleared of all four charges of criminal breach of trust, misappropriation of property and money-laundering following a successful appeal on Wednesday (Jun 25). The Court of Appeal ruled unanimously in favour of Syed Saddiq Syed Abdul Rahman, who is currently the Muar MP, to overturn his previous convictions on these charges. However, the prosecution could appeal his acquittal, said Malaysia's anti-graft chief. 'This is a court decision. I was informed by the prosecution that they will appeal to the Federal Court,' Malaysian Anti-Corruption Commission (MACC) chief Azam Baki told a press conference, as quoted by Free Malaysia Today. With his acquittal, the 32-year-old Malaysian United Democratic Alliance (MUDA) founder and former president will no longer need to serve his combined sentences of seven years in jail, two strokes of the cane, and a fine of RM10 million (US$2.36 million). The high-profile case has garnered much attention, with the verdict for the appeal ultimately decided by a three-judge panel, consisting of Ahmad Zaidi Ibrahim, Azman Abdullah and Noorin Badaruddin. Syed Saddiq had been accused of abetting Rafiq Hakim Razali, the former assistant treasurer of ARMADA, the youth wing of Parti Pribumi Bersatu Malaysia (Bersatu), in committing criminal breach of trust amounting to over RM1 million belonging to Bersatu Youth, with the alleged offence taking place at a CIMB bank branch in Kuala Lumpur in March 2020. On Nov 23, 2020, the Kuala Lumpur High Court found him guilty of a criminal breach of trust charge, and sentenced him to a jail term of three years, together with one stroke of the cane. He was also convicted of misappropriation of property totalling more than RM120,000 also belonging to the Bersatu youth wing. For the offence of misappropriation of property for personal gain under Section 403 of the Penal Code, Syed Saddiq was sentenced to two years' imprisonment and one stroke of the cane, as reported by Berita Harian. The former Bersatu Youth chief was also convicted on two counts of money laundering for transferring a total of RM100,000 to his personal account from a company linked to the youth wing, Armada Bumi Bersatu Enterprise, for which the court sentenced him to two years in jail for each count. The Kuala Lumpur High Court had ordered that his jail terms for criminal breach of trust and misappropriation were to run consecutively and for those handed down for money laundering to be run concurrently. The judgement of the appeal was read out in a crowded courtroom for more than an hour. Noorin noted that the prosecution had failed to prove the ingredients of the predicate charges of abetting in criminal breach of trust and dishonest misappropriation, according to Malaysian media outlet Free Malaysia Today. Noorin also said that the trial judge failed to appreciate Syed Saddiq's defence and had treated it as a bare denial and afterthought. 'There was a serious misdirection by the trial judge which warranted appellate intervention,' she said, as reported by Free Malaysia Today, referring to the process of appeal. Syed Saddiq was represented by lawyers Mohd Yusof Zainal Abiden and Hisyam Teh Poh Teik while Deputy Public Prosecutors Wan Shaharuddin Wan Ladin and Farah Ezlin Yusop Khan acted for the Public Prosecutor. He attended the hearing in a black suit and was emotional, hugging his mother and kissing her hand after the court announced the decision, according to Berita Harian. With his parents by his side, he prostrated outside the courtroom, before he spoke to the media and described his trial experience as 'hellish'. 'It's too difficult to describe the experience other than to say it was five years of hell,' he said, as quoted by the Malay Mail. 'I wouldn't wish what I went through on my worst enemies, but I also hold no grudges moving forward,' he added. Posting an official statement on Instagram, MUDA declared that 'the ruling was a victory for the people of Malaysia, especially the people of Muar'. MUDA added that this would not mark the end of the struggle, triggering a wave that will continue to fight injustice and a movement that will continue to serve the country. Co-founder and acting President of MUDA, Amira Aisya Abd Aziz, told reporters outside the court that the party would discuss Syed Saddiq's potential future as party president. 'Continue fighting,' she added in a statement on X.
Free Malaysia Today
24-06-2025
- Politics
- Free Malaysia Today
Muda's future with Syed Saddiq hinges on court decision tomorrow
Muar MP Syed Saddiq Syed Abdul Rahman was convicted by the Kuala Lumpur High Court in November 2023 of abetting in criminal breach of trust, misappropriation of assets and money laundering. PETALING JAYA : Muda's future with its former president, Syed Saddiq Syed Abdul Rahman, will depend on the outcome of his appeal against his conviction and sentence for corruption and money laundering charges, which will be announced tomorrow. Acting Muda president Amira Aisya Abdul Aziz told FMT that although the Muar MP had not held the party's presidency since he stepped down in 2023, he remained a key figure in Muda due to his role as its founder and sole representative in Parliament. Amira also said that Muda currently has no plans to appoint a new president as party elections are expected to be held soon. 'For now, there is nothing urgent that requires us to fill the position. We'll leave it to the members to decide,' she said. 'If everything goes smoothly, it will be up to Syed Saddiq to decide whether or not he wants to run again (for president).' Syed Saddiq was convicted by the Kuala Lumpur High Court of abetting in criminal breach of trust, misappropriation of assets and money laundering in November 2023. The former youth and sports minister was sentenced to seven years' jail, fined RM10 million and ordered to be given two strokes of the rotan. The sentences have been stayed pending an appeal to the Court of Appeal. He announced later that he would temporarily step down as Muda president and would not be involved in the party's decision-making processes.
CNA
24-06-2025
- Business
- CNA
Ex-managing director jailed for misappropriating S$7 million from his company to buy its shares
SINGAPORE: A managing director who misappropriated S$7 million (US$5.4 million) from his investment holding firm was jailed for three-and-a-half years on Tuesday (Jun 24). Lee Boon Teck, 58, used the sum stolen from Catalist-listed KLW Holdings to buy himself shares in the company, where he was also executive chairman. The firm is now known as HS Optimus Holdings. He pleaded guilty in May to one count each of criminal breach of trust and falsifying accounts. Ten similar charges were taken into consideration for sentencing. Lee admitted to carrying out the offences in 2014 with his co-accused Chan Ewe Teik, now known as Michael ET Chan. Chan's case is pending before the courts. Chan was the sole director and shareholder of Straitsworld Advisory, a consultancy firm. The duo met in 2010 or 2011, when Chan offered Lee his consultancy services after reading an article about a company in the KLW group facing business problems. Chan started introducing business opportunities to KLW through Lee. In 2013, Chan floated two projects in China involving the acquisition of a state-owned hotel in Zhangye, Gansu and the development of the surrounding land. The plan was for Straitsworld to acquire the assets for the projects with the help of a third company, White Group, then sell them to KLW, which would develop the projects. The three companies entered into an agreement with the Zhangye government in April 2014. Lee did not inform KLW's board of directors about the projects, despite knowing that any corporate decisions he made for the group required the board's approval. In May 2014, Lee arranged for a company in the KLW group to make a first payment of S$7 million in commitment fees to Straitsworld. In June 2014, he misappropriated a second payment of S$7 million in commitment fees from KLW to Straitsworld. Lee had agreed with Chan that he would use the money to buy KLW shares. However, by August or September 2014, discussions over the Zhangye projects had broken down. KLW's board expected a refund of the commitment fees. Lee met up with Chan on several occasions to recover the fees, which totalled S$14 million, but Chan told him that Straitsworld did not have sufficient funds. They agreed for Lee to repay S$7 million first on Chan's behalf, and Lee made the payment to KLW. Lee and Chan then agreed to redirect the remaining S$7 million owed to another potential property development project in which Straitsworld was involved. This redirection was approved by KLW's board. Chan also provided a guarantee that he would be personally liable for the repayment of the remaining S$7 million if the project fell through. When the project failed to materialise, KLW took legal action against Chan. He was only able to repay S$5.75 million of the S$7 million, and was made a bankrupt in 2018. The remaining sum of S$1.25 million has not been repaid. Lee also admitted to directing KLW's group financial controller and a finance and human resource manager to make false entries in the company's financial statements. This was to cover up the commitment fees paid to Straitsworld, a S$2.2 million commitment fee Lee made KLW pay for another potential property development project in Bali, and a S$1.95 million "personal loan" he took from KLW. These transactions, totalling S$18.15 million, were made without the knowledge or consent of KLW's board of directors, and Lee wanted to conceal them to prevent inquiries. In sentencing, District Judge Koo Zhi Xuan said that Lee abused his corporate authority by acting against the very company he was supposed to steward. Lee's actions deceived the listed company's board as well as the public at large, and deterrence was the primary consideration for his sentence, added the judge. The jail term also reflected the significant restitution that Lee had made, said Judge Koo. Lee could have been jailed for up to seven years, fined or received both penalties for criminal breach of trust. For instigating the falsification of accounts, he could have been jailed for up to 10 years, fined or both.
Malay Mail
23-06-2025
- Business
- Malay Mail
Vivy Yusof, husband to face 15-day trial over RM8 million criminal breach of trust charge involving Khazanah and PNB funds
KUALA LUMPUR, June 23 — The Sessions Court today set 15 days of trial next year beginning April 13, for the case involving FashionValet Sdn Bhd founders Datin Vivy Sofinas, known as Vivy and her husband Datuk Fadzarudin Shah Anuar, who are facing charges of criminal breach of trust (CBT) involving RM8 million in investment funds from Khazanah Nasional Berhad (Khazanah) and Permodalan Nasional Berhad (PNB). Judge Rosli Ahmad set the trial dates for April 13 to 17, May 18 to 22, and June 8 to 12, 2026. 'The trial will run for 15 days, and the court has set the next case mention for October 27,' said Rosli. Earlier, Deputy Public Prosecutor Datuk Wan Shaharuddin Wan Ladin requested the court fix the trial dates agreed upon by both the prosecution and defence. Lawyer M. Athimulan is representing the couple. Wan Shaharuddin told the court that the prosecution will call 26 witnesses to testify. The accused, both 37, were not present in court today as their attendance had been exempted. On December 5 last year, Vivy and Fadzarudin pleaded not guilty to a charge of committing CBT in their capacity as directors of FashionValet Sdn Bhd. They were accused of misappropriating investment funds entrusted to them by Khazanah and PNB by transferring RM8 million from FashionValet Sdn Bhd's company account to 30 Maple Sdn Bhd without the approval of FashionValet's board of directors. The offence was allegedly committed at Public Bank Berhad, Bukit Damansara Branch, 36-40 Medan Setia 2, Plaza Damansara, Bukit Damansara, here, on August 21, 2018. The charge, framed under Section 409 of the Penal Code, read together with Section 34 of the same Code, provides for a minimum sentence of two years and a maximum of 20 years in jail, whipping, and a fine upon conviction. They also pleaded not guilty to an alternative charge of jointly and dishonestly misusing company property, namely, RM8 million in investment funds from Khazanah and PNB belonging to FashionValet Sdn Bhd under Section 403 of the Penal Code, read together with Section 34 of the same Code, which provides for an imprisonment of between six months and five years, along with caning and a fine upon conviction. — Bernama
