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Man charged over bitcoin investment fraud

 

KOTA KINABALU A man pleaded not guilty in the Magistrate’s Court here today to two counts of illegal deposit taking activities related to bitcoin investment 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 to deposit 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 RM50 million or both if convicted.

 

Magistrate Jessica Ombou Kakayun allowed a RM12,000 bail in four sureties and set June 11 for mention.

 

In a separate court, Mohd Wannor also claimed trial to another charge of deceiving another victim at a bank in Damai Plaza in July last year around 4 pm.

 

 

He was alleged to have lured the victim to deposit 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.

 

Source: BERNAMA News Agency

 

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