KUALA LUMPUR: A former financial senior manager had his sentence reduced by the High Court today over graft involving corporate investment by a national Information and Communications Technology (ICT) research and development centre.
Khairuddin Khalid — who used to work for the Malaysian Institute of Microelectronics Systems Bhd (Mimos) — had his seven years' jail time and RM5.02 million fine cut to five years' imprisonment and RM458,325 fine by the court.
Previously, on Feb 13, 2014, the Sessions Court handed down the higher jail term and fine when it convicted Khairuddin, 56, of four counts of receiving RM502,002.37 bribe from businessman Muhamad Khalid Ismail, 68, via four cheques, and four counts of soliciting the amount.
However, High Court judge Datuk Azman Abdullah today quashed Khairuddin’s conviction for seven of the charges.
The kickback — purportedly received at Menara Weld, Jalan Raja Chulan here between May 21, 2001 and Feb 8, 2002 — was allegedly as inducement for Khairuddin to ensure Mimos invested its money in investment company Corporate Eight Asset Management Sdn Bhd.
Azman ordered Khairuddin to serve five years' jail and pay RM458,325 fine over the conviction for the remaining single charge.
The judge, however, allowed Khairuddin's bid to stay the new jail term pending appeal to the Court of Appeal.
However, Azman denied the appellant's bid to stay the fine, which if unpaid, carries a six-month jail term in default.