JOHOR BARU: A former company executive was charged at the Sessions Court here for allegedly cheating a man of RM10,000 in an investment scheme.

       The accused, Muhamad Fadzli Jamaludin, 31, pleaded not guilty after the charge was read to him in front of Sessions Judge Fatimah Zahari on Wednesday (Aug 18).

       According to the charge sheet, the accused had accepted a deposit of RM10,000 from a 56-year-old man for investment without a licence under Section 10 of the Financial Services Act 2013.

       The act is an offence under Section 137(1) of the Financial Services Act 2013, which carries a prison term not exceeding 10 years, or a fine not exceeding RM50mil, or both if convicted.

       The offence was allegedly committed at Jalan Manis, Taman Manis Kelapa Sawit, Kulai, in March last year.

       The case was prosecuted by deputy public prosecutor Chai Ing Hien while the accused was represented by B. Puvarasan.

       Earlier, Chai had requested bail to be set at RM20,000 with one surety for the accused.

       In mitigation, Puvarasan requested a lower bail as the accused is currently unemployed and is taking care of his wife and two-year-old daughter.

       The court then allowed bail of RM8,000 with one surety and set Sept 29 for the next mention of the case.

       The accused posted bail.