Former finance firm consultant claims trial to over RM85m investment fraud

A former finance company consultant pleaded not guilty in the Sessions Court here today to deceiving Intellectual Property Corporation of Malaysia (MyIPO) over a RM85,530,000 investment scheme.

Datuk Ahmad Azwan Aboo Mansor, 50, made the plea, after the charge was read by an interpreter before Judge Azman Ahmad.

Ahmad Azwan is alleged to have cheated MyIPO by deceiving a senior officer of the company, in order to invest in a scheme named BIMB i-Fund (Money Market Instrument/ Fixed Deposit), which promises a return of six per cent per annum, when in fact the scheme is BIMB i- Dividend Fund, which is a unit trust investment.

Therefore, the accused fraudulently induced MyIPO to hand over a sum of RM85,530,000 in cash to be invested into the BIMB account, which is registered in the name of BIMB Investment Management Berhad (i Dividend), which MyIPO would not have done so if it had not been misled.

The offence was allegedly committed at the Ixora Meeting Room, MyIPO, Level 19, Tower B, Menara UOA, Bangsar, here, at 10 am on Nov 25, pursuant to Section 420 of the Penal Code which provides for a minimum jail term of one year and a maximum of 10 years, and with whipping and is also liable to a fine.

The accused also pleaded not guilty to an alternative charge of forging a presentation paper titled BIMB i-Fund (Money Market Instrument/ Fixed Deposit), with the intent that the false document be used for the purpose of deception, resulting in a loss of RM85,530,000.

The charge under Section 468 of the Penal Code provides for a maximum jail term of seven years and also a fine, upon conviction.

Deputy public prosecutor Mohd Afif Ali prosecuted while the accused was represented by Datuk Akberdin Abdul Kader.

The court set bail at RM700,000 with two sureties and ordered Ahmad Azwan’s passport to be impounded until the disposal of his case and fixed Aug 28 for mention. - BERNAMA