SEREMBAN: A senior citizen pleaded not guilty in the Sessions Court here today to 172 counts of fraudulent concealment of money, totaling RM2.9 million between 2016 and last year.
Lai Ching Wai, 63, made the plea before judge Diana Md Razali.
He was charged with concealing the money, made in several transactions involving RM4,000 to RM90,000 that were deposited by Aerial Mix Sdn Bhd, a company belonging to Lim Ming Shun, into four bank accounts that were registered under his (Lai) name.
The offence was allegedly committed at four banks in Seremban between April 26, 2016 and June 2 last year.
The charges were framed under Section 424 of the Penal Code which provides an imprisonment for up to five years, or fine, or both, if found guilty.
Deputy public prosecutor Muhammad Zulfikri Mohd Nasir requested bail at RM300,000 for all charges, but Laiâs lawyer, S. Khartigesan, requested for a minimum bail, saying that his client, who was now unemployed, had just lost his wife and was taking care of two children.
The court then allowed Lai bail of RM58,000 and set Dec 2 for mention. â Bernama
