A former insurance agent claimed trial at the Sessions Court today to separate charges of cheating an insurance client and laundering the RM76,611 from the illegal proceed.
Lim Cho Yaw, 32, allegedly induced telecommunications analyst Farid Mohamed Sani, 38, to give him a cheque for the purpose of settling the victim's housing loan instalment. However, instead of giving over the cheque to insurance company AIA Berhad, he laundered the money by banking it into his bank account.
He was accused of committing both offences at a Maybank branch at Kuala Lumpur City Centre, Suria Kuala Lumpur City Centre here between April 27 and 28, 2011.
If convicted for the cheating offence, he faces 10 year jail, whippings, fine imprisonment up to ten years, whipping, and fine while the penalty for the money laundering offence is RM5 million fine or five year jail or both.
No comments:
Post a Comment