KUALA LUMPUR: A former businessman and his wife were sentenced to four years in prison by the Sessions Court here today after being found guilty of obtaining over RM300,000 in deposits without a valid investment license nine years ago.
Judge Mohd Kafli Che Ali found that the defence had failed to raise a reasonable doubt on the case against Ho Kok Keong, 62, and his wife Koh Orchid, 51.
“After reviewing testimonies from both the prosecution and defense witnesses, the court finds the accused guilty,“ said Mohd Kafli, who also ordered both defendants to begin serving their sentences today.
However, the court granted the request of the couple’s lawyer Sean Dudley, to stay the execution of the sentence pending an appeal, by increasing their bail from RM15,000 to RM30,000.
Ho and Koh were charged with illegally taking deposits for investment purposes, amounting to RM364,000, from Lee Kuan Peng, 51, at a restaurant in Sentul on December 16, 2015, and April 16, 2016.
They were charged under Section 137 (1) of the Financial Services Act 2013, which provides for a maximum prison term of 10 years, a fine not exceeding RM50 million, or both.
Deputy public prosecutor Akmalzatul Mohamed Nawi led the prosecution. Eight prosecution witnesses and two defense witnesses, including the accused, testified during the trial, which began on Jan 10, 2023.
