BALIK PULAU: A chief marketing officer of a trading company has been remanded for four days to assist a probe into a criminal breach of trust case involving RM304mil.

       The 52-year-old man was remanded along with his son aged 26 and another 29-year-old man at the Balik Pulau Magistrate’s Court on Friday (July 16).

       Balik Pulau magistrate Khalijah Mohd Khalid allowed the application by the police for the three men to be remanded to facilitate the investigation.

       The case is being investigated under Section 409 of the Penal Code.

       It is learnt that the men were detained at several locations in George Town on Thursday (July 15).

       Penang Commercial Crime Investigations Department chief Asst Comm Mohd Rosni Mohd Lazim said the managing director of the trading company lodged a report against the men after they failed to pay hibah (dividends) to investors.

       "The men allegedly use the money that is supposedly to be paid to investors for their own use," he said when contacted.