KUALA LUMPUR: A 40-year-old company consultant was charged at the Sessions Court today with cheating a man on matters related to investment licence involving losses of RM3.3 million, two years ago.
The accused, Johnathan Wong Futt Po, claimed trial to deceiving a victim aged 45 into believing he would handle all matters to obtain an investment licence before Judge Azrul Darus.
It encouraged the victim to transfer US$789,014 worth of crypto currency (equivalent to RM3,316,431.40) into Wong's crypto e-wallet.
However, Wong did not have any sort of capacity to manage anything related to the investment licence.
He had allegedly committed the offence at a premises in KL Eco City, Jalan Bangsar.
The charge was framed under Section 420 of the Penal Code which carries a minimum of one year and maximum of 10 years' jail and caning and fine if convicted.
Deputy public prosecutor Akmalzatul Mohamed Nawi offered bail of RM100,000 with one surety.
Wong's defence counsel Siti Anis Che Ab Wahab urged the court to set bail at RM50,000.
Judge Azrul allowed Wong bail of RM80,000 with one surety.
The court set Feb 5 for mention.