ALOR SETAR, June 11 (Bernama) -- Two business partners pleaded not guilty at the Sessions Court on two charges of taking money deposits from members of the public without a valid licence in 2015 and 2016.
The accused Ooi Kooi Lam, 61, and Loh Kim Yong, 62, made the plea before Judge Sharifah Norazlita Syed Salim Idid after the interpreter read the charges.
According to the first charge, both of them were accused of taking deposits from the public without a valid license under Section 10 of the Financial Services Act 2013 (Act 758) at Alliance Bank no. 1960E & F, Jalan Stadium here between July to December 2015.
For the second charge, Ooi and Loh were jointly charged with committing the same act at the same location between January and December 2016.
In this regard, both of them were charged with committing the offences under Section 137 (1) of the same act and can be sentenced under Section 137(2) of the same act read together with Section 34 of the Penal Code which provides for a jail term not exceeding 10 years or fine not exceeding RM50 million or both upon conviction.
During the court proceeding, deputy public prosecutor, Mohd Alif Farhan Hassan said the total amount of money involved for both accused was about RM90,000 after Sharifah Norazlita asked about the amount involved to determine the sum of bail for both accused.
After that, the court allowed Ooi and Loh to be given bail at RM8,000 in one surety each and set July 2 to re-mention.
Both accused were represented by counsel Eng Yuh Pei.