KUALA LUMPUR: Two former directors of an oil and gas investment and trading company pleaded not guilty in the Sessions Court today to a charge of cheating related to a diesel trading investment last year.
Shamsul Rijal Mohd Yussof and Ahmad Ghazali Md Kassim, both 73, were accused of deceiving Afifi Ahmad, 48, into investing in the business by promising a profit of RM1.5 million. As a result, the victim transferred RM752,000 into the accused’s bank account under Syarikat Spectrum Global Sdn Bhd at a bank in Brickfields on Feb 26, 2024.
They were charged under Section 420 of the Penal Code, read together with Section 34, which provides a maximum prison sentence of 10 years and whipping and also liable to a fine upon conviction.
Deputy public prosecutor Nur Shakila Mohd Shariff proposed bail at RM50,000 in one surety each.
Lawyer Ahmad Hafiz A Bakar, representing Ahmad Ghazali, applied for a lower bail on the grounds that his client was supporting his family and suffering from health issues. Shamsul Rijal, who was unrepresented, also requested a lower bail on similar grounds.
Judge Hamidah Mohamed Deril granted bail at RM20,000 in one surety each and set April 10 for mention.
