Former JCorp president charged with deceiving JCorp board

Kamaruzzaman, 58, however, pleaded not guilty to the charge before judge Wan Mohd Norisham Wan Yaakob.

He was charged, in his capacity as JCorp president and chief executive, to have cheated and dishonestly induced the company's board members into agreeing to invest US$5 million, with US$1 million in World Logistic Council Ltd and US$1.25 million in World Logistic Council Americas LLC, which the board would not have agreed to it if he had informed them on the position of the two companies which were no longer incapable of continuing their operations.

Kamaruzzaman was alleged to have committed the offence between 9.30 am and 1.45 pm at the meeting room of theJCorp Board, Level 25, Menara Komtar here on July 8, 2019.

The charge was framed under Section 420 of the Penal Code, which provides an imprisonment for up to 10 years and with whipping and shall also be liable to fine, if ound guilty.

Kamaruzzaman was allowed bail of RM150,000 with one surety and also ordered to surrender his passport to the court before April 23 after his return from performing the umrah.

Judge Wan Mohd Norisham, in allowing the request by lawyer K. Ragunath, representing Kamaruzzaman, also ordered the accused to report himself at the nearest Malaysian Anti-Corruption Commission (MACC) office and to not intimidate witnesses in the case, as requested by the prosecution, represented by deputy public prosecutor Zander Lim Wai Keong, from the MACC.

The judge also set April 25 for mention.

Kamaruzzaman was president and chief executive of JCorp from December 2010 before retiring on Dec 12, 2019.