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2 ex-directors freed of 3 charges under Cooperative Societies Act
KUALA LUMPUR: Two former directors of Koperasi Pelaburan Hartanah Berhad were today acquitted and discharged of three charges under the Cooperative Societies Act four years ago without their defence being called.
Sessions Court judge Datuk Rozana Ali Yusoff made the decision after finding that the prosecution had failed to prove a prima facie case against Lee Wei Onn, 45, and Md Sarip Salleh, 51, at the end of its case.
On the first count, Lee and Md Sarip were charged with accepting loans amounting to RM500,000 from would-be members of Koperasi Pelaburan Hartanah Berhad by using payment vouchers in the cooperative's name even before the cooperative was legally registered.
They were alleged to have committed the offence at the groundfloor, 1 and 2, Block A, Setiawangsa Business Suites, Jalan Setiawangsa 11, Taman Setiawangsa between April 5 and May 23, 2008.
The charge under the Cooperative Societies Act 1993 carries a fine of up to RM5 million or a jail term of up to five years, or both, if convicted.
For the second and third charge, the two were alleged to have collected investments in the name of Units@Neocyber by promising the payment of dividends of up to 16 per cent annually through the Gold Member investment to the members of the cooperative although it did not have activities that could generate income.
They were alleged to have committed both offences at the same place between Aug 13, 2008 and March 30, 2009.
Both charges under the same Act, carry a fine of up to RM200,000.
DPP Hanim Abdul Rahman had submitted a list of 17 witnesses while the two accused were represented by lawyer Amer Hamzah Arshad. -- BERNAMA