KUALA LUMPUR, April 23 — Two former directors of an investment company were charged in separate Sessions Courts today with cheating in a diesel business investment scheme and receiving proceeds from illegal activities.
Shamsul Rijal Mohd Yussof, 74, and his former wife, Hamidah Ab Hamid, 62, both pleaded not guilty after all charges were read before Judges Azrul Darus and Norma Ismail.
Before Judge Azrul, Shamsul faced a charge of cheating one Afifi Ahmad, 49, by deceiving him into investing in a diesel business venture.
The accused allegedly promised lucrative profits, which led the victim to transfer RM725,000 into a bank account registered under the name of Spectrum Global Sdn Bhd at a bank in Brickfields at 2.39pm on February 26, 2024.
The charge was brought under Section 420 of the Penal Code, which carries a prison term of between one and ten years, along with caning and a possible fine upon conviction.
He also faces a charge of receiving RM20,000 in proceeds from unlawful activities from the Spectrum Global bank account, cashed out through a bank account belonging to a 63-year-old woman.
The offence is alleged to have taken place at a bank branch on Jalan Tun Razak on March 15, 2024, under Section 4(1)(b) of the Anti-Money Laundering, Anti-Terrorism Financing, and Proceeds of Unlawful Activities Act 2001 (AMLATFPUAA).
A conviction under this section carries a prison sentence of up to 15 years, plus a fine set at no less than five times the value of the unlawful proceeds at the time of the offence, or RM5 million, whichever is higher.
Before Judge Norma, Shamsul and Hamidah were jointly charged with receiving RM122,000 in proceeds from unlawful activities from the Spectrum Global bank account, which was cashed out through a bank account belonging to Reach Resource Management Plt. at a bank branch in Taman Melawati on February 26, 2024.
Hamidah faces an additional charge of receiving RM130,000 in proceeds from unlawful activities from the Spectrum Global bank account into her bank account, allegedly occurring at a bank branch in KL City Centre between March 6, 2024, and March 29, 2024. All charges fall under Section 4(1)(b) of the AMLATFPUAA 2001, carrying similar penalties.
The case was handled by Deputy Public Prosecutors Nurliyana R. Azmi and Muhammad Zul Hilmi Latif, while lawyer Farhanna Roslan represented Shamsul. Hamidah was unrepresented.
The court allowed Shamsul bail of RM50,000 with one surety and RM20,000 bail for Hamidah. The next case mention has been set for June 8.
