KUALA LUMPUR - The director of a commodities trading company was charged in the Ampang Sessions Court here with cheating a businesswoman out of more than RM5.3 million (S$2 million) in a gold purchasing scam.
Mohd Khairul Firdaus Mohd Rejab, 29, pleaded not guilty to four counts of cheating Nurul Shazalina Md Isa, also 29, into handing over the cash in exchange for 47.5kg of gold when he in fact did not have the gold.
According to the charge sheet, Nurul Shazalina was tricked into handing over a total of RM5,352,950 in four transactions.
The alleged offence occurred at an office in Jalan Selaman 1, Dataran Prima, Ampang, at 5pm on Dec 3.
Mohd Khairul Firdaus faces up to 10 years in prison and either whipping or a fine under Section 420 of the Penal Code for cheating.
Deputy Public Prosecutor Nurakmal Farhan Aziz said while this was a bailable offence, a reasonable amount would be required to reflect the large amount of cash lost.
"I suggest that the court fixes bail at RM535,000 - about 10 per cent of the estimated cash involved," he said.
However, Mohd Khairul Firdaus' lawyer, Mohd Muiz Samsuri, pleaded for leniency, pointing out that he had no prior conviction and that he had to take care of his parents and wife.
Mohd Muiz argued that the case was also more "civil in nature".
It was learnt that Mohd Khairul Firdaus had just opened the shop that buys and sell precious metals in Kajang two months ago.
Judge Unaizah Mohd allowed bail at RM300,000 with two sureties for all charges and ordered Mohd Khairul Firdaus to surrender his passport. She fixed Feb 5 for mention.