KUALA LUMPUR: A former unit trust consultant has been charged with four counts of cheating involving RM215,000 in an alleged investment fraud scheme.
Amran Mohd Amin, 58, pleaded not guilty to all charges which were read separately before Sessions Court Judges Azrul Darus and Norma Ismail.
The first set of charges involved deceiving two individuals into investing in a purported unit trust scheme under Kenanga Investors Bhd.
Victims issued cheques for RM130,000 and RM65,000 which Amran allegedly used to purchase unit trusts for his personal benefit.
These offences were allegedly committed at Kenanga Investors Bhd, Kenanga Tower, Jalan Tun Razak between July 20, 2021 and February 14, 2022.
The charges fall under Subsection 179(b) of the Capital Markets and Services Act 2007, carrying a maximum penalty of 10 years imprisonment and a minimum RM1 million fine upon conviction.
In a separate court, Amran and his former wife Nadihah Nawi faced joint charges for deceiving two other individuals into issuing cheques worth RM10,000 each.
These funds were allegedly used to purchase unit trusts under Nadihah’s account at the same location between January 20 and June 27, 2022.
These charges fall under the same Act read together with Section 34 of the Penal Code, allowing for similar penalties upon conviction.
The court granted Amran bail of RM70,000 with one surety and ordered him to report monthly to the Securities Commission.
Judge Norma Ismail set October 2 for the next case mention to allow both prosecution and defence time for preparation.
Deputy public prosecutors K. Mageswary and Adibah Saiful Bahri from the Securities Commission are handling the prosecution case.
Amran appeared in court without legal representation during the proceedings.
Nadihah Nawi, a former unit trust agent, had previously pleaded not guilty to separate cheating charges involving RM20,000 on July 30. – Bernama