KUALA LUMPUR: A highway construction company director has been charged with multiple financial crimes involving more than RM450 million.
Tan Sri Abu Sahid Mohamed, the 74-year-old director of Maju Holdings Sdn Bhd, faced four counts of criminal breach of trust involving over RM313 million and 13 counts of money laundering involving RM139.2 million.
The charges relate to the proposed MEX II highway construction project, with the accused appearing in court in a wheelchair to enter his plea.
Abu Sahid pleaded not guilty to all charges after they were read before Sessions Court Judge Suzana Hussin.
The court granted him bail of RM1.5 million with one surety and ordered the surrender of his passport until the case concludes.
Judge Suzana set November 3 for the next case mention, allowing both prosecution and defence time to prepare their arguments.
The criminal breach of trust charges allege dishonest misappropriation of company funds from a Bukit Tunku bank account between May 2016 and October 2019.
These charges fall under Section 409 of the Penal Code, carrying a potential imprisonment term of two to 20 years plus possible caning and fines upon conviction.
The money laundering charges involve transferring RM116.4 million from his personal account to five individuals and four construction companies.
Additional money laundering counts accuse him of disposing RM22.8 million through 17 cheque withdrawals between May 2016 and September 2018.
These charges were brought under the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001.
The money laundering charges carry a maximum penalty of 15 years imprisonment and fines of at least five times the illicit proceeds value.
Deputy public prosecutor Datuk Ahmad Akram Gharib confirmed both parties agreed to the bail amount and requested a joint trial for all charges.
Defence counsel Datuk Hisyam Teh Poh Teik did not object to the prosecution’s application for a joint trial.
Judge Suzana Hussin approved the joint trial application, consolidating all seventeen charges into a single proceeding. – Bernama