KOTA KINABALU (Bernama): A man has pleaded not guilty in the Magistrates Court here to two counts of illegal deposit taking activities related to cryptocurrency investments amounting to RM425,710.
On the first count, the accused, Mohd Wannor Ramdan Awang, 25, was charged with deceiving a victim at a restaurant here, between July to September last year, to invest RM392,860, without a valid licence, as stipulated under Section 10 of the Financial Services Act 2013.
The accused was charged with committing the offence by deceiving the victim into depositing the sum into his bank account.
He was charged under Section 137 (1) of the Financial Services Act 2013 and punishable under Section 137 (2) of the same law, which carries a maximum jail term of 10 years or a fine of up to RM50mil or both if convicted.
Magistrate Jessica Ombou Kakayun on Wednesday (May 13) allowed RM12,000 bail in four sureties and set June 11 for mention.
In a separate court, Wannor also claimed trial to another charge of deceiving another victim at a bank in Damai Plaza in July last year around 4pm.
He was alleged to have lured the victim into depositing RM32,850 into his bank account for the purpose of investment.
He was charged under Section 420 of the Penal Code, which provides for a maximum jail term of 10 years and whipping and also liable to a fine upon conviction.
Magistrate Afiq Agoes set bail at RM8,800 in two sureties and fixed June 18 for mention. Bernama
Link:
Man charged over cryptocurrency investment fraud - The Star Online