FMT:
Maju Holdings chairman charged with RM313mil CBT
Abu Sahid Mohamed is also accused of laundering some RM139 million, claiming trial to all 17 charges against him
Abu Sahid Mohamed claimed trial to four charges of CBT and 13 of money laundering. (Bernama pic)
PETALING JAYA: Abu Sahid Mohamed, the executive chairman of Maju Holdings Sdn Bhd, has been charged with criminal breach of trust (CBT) involving RM313 million in funds as well as laundering some RM139 million.
All 17 charges are linked to the Maju Expressway Extension (MEX II) project, Utusan Malaysia reported.
Abu Sahid, who was in a wheelchair, claimed trial to the four CBT charges and 13 money laundering charges before Kuala Lumpur sessions court judge Suzana Hussin.
The 74-year-old was charged with committing the CBT offences by misusing over RM313 million in Maju Holdings funds between 2016 and 2019.
The charges under Section 409 of the Penal Code are punishable by two to 20 years in prison, whipping and a fine, upon conviction.
Abu Sahid was also charged with laundering over RM139 million in proceeds from illegal activities through multiple transactions to individual and company bank accounts, also from 2016 to 2019.
The charges were framed under Section 4(1)(b) of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001, which provides for up to 15 years in prison and a minimum RM5 million fine, upon conviction.
Deputy public prosecutor Ahmad Akram Gharib proposed bail of RM1.5 million and the surrender of Abu Sahid’s passport.
Senior lawyer Hisyam Teh Poh Teik, representing Abu Sahid, agreed to the proposed amount and conditions.
The judge fixed bail at RM1.5 million and set Nov 3 for case mention.
All 17 charges are linked to the Maju Expressway Extension (MEX II) project, Utusan Malaysia reported.
Abu Sahid, who was in a wheelchair, claimed trial to the four CBT charges and 13 money laundering charges before Kuala Lumpur sessions court judge Suzana Hussin.
The 74-year-old was charged with committing the CBT offences by misusing over RM313 million in Maju Holdings funds between 2016 and 2019.
The charges under Section 409 of the Penal Code are punishable by two to 20 years in prison, whipping and a fine, upon conviction.
Abu Sahid was also charged with laundering over RM139 million in proceeds from illegal activities through multiple transactions to individual and company bank accounts, also from 2016 to 2019.
The charges were framed under Section 4(1)(b) of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001, which provides for up to 15 years in prison and a minimum RM5 million fine, upon conviction.
Deputy public prosecutor Ahmad Akram Gharib proposed bail of RM1.5 million and the surrender of Abu Sahid’s passport.
Senior lawyer Hisyam Teh Poh Teik, representing Abu Sahid, agreed to the proposed amount and conditions.
The judge fixed bail at RM1.5 million and set Nov 3 for case mention.
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During PMVII days, the DAP (by then in cabinet) objected to this bloke buying up PLUS Hwy.
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