KUALA LUMPUR: A businessman and an accountant, both aged 33, were remanded yesterday for three days, on suspicion of cheating a company of RM2.5 million in proceeds from the sale of shares.
The company director had discovered that the proceeds had not been credited into the company’s account.
The two men are alleged to have committed the offence on April 26 in Selayang.
Gombak district police chief ACP Samsor Maarof told Bernama the Selayang Magistrate’s Court had granted police the remand order to facilitate investigations under Section 420 of the Penal Code for the offence of cheating and dishonestly inducing the delivery of property which carries a maximum sentence of 10 years of jail and whipping, as well as the possibility of a fine. — Bernama
