KUALA LUMPUR: A politician's son lost his RM1mil (S$330,000) fraud claim against a company and three people over his interest to venture into a battery production business.
Mohd Shazni Mohd Shafie, 29, was instead ordered by the High Court to pay RM40,000 in costs.
Justice Vazeer Alam Mydin Meera dismissed the civil claim by Mohd Shazni after hearing a full trial.
Mohd Shazni is the eldest son of former Rural and Regional Development Minister Datuk Seri Mohd Shafie Apdal who was dropped from the Cabinet in July.
Speaking to the media here after the decision in chambers, the defendants' lawyers Pradeep Kumar Nandrajog and Dinesh Nandrajog said the judge held that the plaintiff had failed to establish fraud on the part of the clients.
In his court papers, Mohd Shazni named automative battery charging company DT Synergy Sdn Bhd, its two directors Eddy Shahrizal Abd Halim and Zul Hatta Shamsudin and its consultant Azzuddin Shah Kassim as defendants.
Mohd Shazni said both company directors and Azzuddin had met him at a hotel here to discuss and influence him to venture into the battery production business.
He said the defendants persuaded him to invest RM1mil to venture into the business and said he would get 25 per cent profits every year while owning 25 per cent shares in Automative Battery Charging Industries Sdn Bhd's (ABCI)
He said he paid RM1mil to them in two cheque payments and a cash deposit, as well as signed a shareholder agreement on June 5 last year.
In his statement of claim, he said the company directors and Azzuddin had fraudulently used the RM1mil to purchase part of ABCI shares in the name of DT Synergy.
In his suit, he had sought for a court order for the defendants to return his RM1mil and pay general damages.
In the statement of defence, the defendants denied any fraud and said the business venture had been explained to him clearly.
They said Mohd Shazni wanted to withdraw his RM1mil as he was not named as a party in the ABCI agreement among its shareholders and DT Synergy.