An insurance agent pleads not guilty to cheating a man of RM900,000 by posing as a company director in a fake investment scheme
KUALA LUMPUR: An insurance agent has pleaded not guilty to cheating a man of RM900,000 by posing as a director of a financial management company.
Teong Chooi Tim, 33, was charged at the Sessions Court here with defrauding a 33-year-old man by offering a lucrative return on investment for a business capital payment of RM900,000.
The charge states he deceived the victim into believing he was a company director, which he was not.
This allegedly caused the victim to transfer a total of RM900,000 through 31 transactions into 17 different accounts.
The offence was allegedly committed at a residential unit in Persiaran Alam Damai, Cheras between November 25 and December 22, 2023.
Teong was charged under Section 420 of the Penal Code for cheating.
A conviction under this section carries a maximum penalty of 10 years imprisonment, whipping, and a possible fine.
Deputy Public Prosecutor Batrisyia Mohd Khusri proposed bail at RM50,000 with two sureties.
She also requested the accused surrender his passport and report to a police station monthly until the case concludes.
Defence lawyer Ng Mei Yi appealed for lower bail, citing her client’s financial constraints and his father’s medical costs.
Sessions Court Judge Norma Ismail set bail at RM10,000 with one surety.
The judge also imposed the prosecution’s additional conditions for passport surrender and monthly police reporting.
The court set January 27 for the next mention of the case.
