Former Company Senior Manager Charged With Receiving Over RM1.2 Million In Stolen Property

IPOH, March 19 (Bernama) -- A former senior manager of a multinational company was brought before the Magistrate’s Court again today to face charges of dishonestly receiving more than RM2.1 million belonging to an Indonesian firm three years ago.

NV Vemal, 36, pleaded not guilty to the charges before Magistrate S. Punitha.

On the first count, he was charged with dishonestly receiving stolen property into his Maybank account, namely RM735,294.11 belonging to PT Steelindo Wahana Perkasa, a subsidiary of Kuala Lumpur Kepong Berhad, despite knowing that the money was stolen property.

He was also charged with committing the same act by receiving RM1,447,521.87 belonging to the same company into his bank account.

Both offences were allegedly committed at Maybank Jalan Sultan Idris Shah here, on July 26, 2023 and August 15, 2023, respectively

Both charges were framed under Section 411 of the Penal Code, which provides a maximum sentence of five years in prison or a fine or both if convicted.

The court allowed Vemal bail of RM8,000 with one surety for both charges, as well as ordered him to surrender his passport and set May 8 for mention.

The prosecution was conducted by Deputy Public Prosecutor S. Nishaalini, while lawyer Aashwini Rajan represented the accused.

On Jan 23 this year, Vemal pleaded not guilty in the same court to two charges of receiving and disposing of money totalling more than RM1.4 million belonging to an Indonesian company, three years ago.

-- BERNAMA