How were seven CIMB checks used in the alleged RM520,000 deposits?

Question

Accepted Answer

Seven CIMB Checks Utilised in Alleged RM520,000 Illegal Deposits

A travel agency director, Abdul Halim Navaghani, is facing charges for allegedly receiving RM520,000 in deposits from a retiree without a valid licence. The prosecution contends that these deposits were facilitated through seven CIMB checks. The alleged transactions took place at two offices in Solaris Mont Kiara between June 19, 2015, and January 10, 2017.
Nature of the Alleged Offence

Abdul Halim Navaghani, aged 42, pleaded not guilty to three counts of receiving deposits from 68-year-old retiree Zainal Abidin Abdul Rasol. The total sum of RM520,000 was purportedly received via seven CIMB checks. These alleged deposits were reportedly linked to investments for the accused's travel company.
Legal Framework and Penalties

The charges stem from an alleged violation of Section 137(1) of the Financial Services Act 2013. If convicted, Abdul Halim faces penalties under Section 137(2) of the same act. This could result in a maximum jail term of 10 years, a fine of up to RM50 million, or a combination of both.
Bail and Case Progression

Sessions Courts here set bail at RM7,000 with one surety for Abdul Halim for all three charges. An additional condition mandates that he must report to the nearest police station once a month. The prosecution successfully applied to consolidate the three cases, which will now be heard together before Judge Hasbullah Adam, with a re-mention date set for February 5.

Reading history

Hide →

This history is cleared when the page is closed.

How were seven CIMB checks used in the alleged RM520,000 deposits?

Loading

Was this article helpful?

Helpful

Not helpful

Report an issue

1

0

0

Share with friends