Accused of taking RM172m deposits Lydia Gomez and Yong Huey Jiun

Rushdie Gunning (left) and Hariyah Yaacob

KUALA LUMPUR: Two company directors were charged at the Sessions Court on Wednesday with illegally collecting about RM172 million in deposits.

Rusdie Ganning, 48, and Hariyah Yaacob, 51, directors of Mercantile Point Sdn Bhd, were charged separately with accepting the money without a license at Wisma UOA II, 21, Jalan Pinang, between April 24, 2007, and April 2, 2008.

They were charged under the Banking and Financial Institutions Act 1989, which carries a maximum fine of RM10 million or 10 years' jail or both. They pleaded not guilty.

Bank Negara prosecuting officer Hazri Haris proposed bail at RM1 million with one surety each, as the offence involved about RM172 million.

Counsel Salehuddin Saidin objected, saying the crime was a commercial one that did not involve violence. "They cannot pay the proposed amount. Their company and property have been sealed since May for investigations into money laundering. The bail is not intended to be punitive."

Judge Ruzana Ali Yusoff set bail at RM300,000 with one surety each and ordered their passports be surrendered to the court.

The two failed to post bail.

Ruzana fixed Dec 22 for mention.

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