Ex-real estate company director accused of cheating on RM5m ​​loan

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Tuesday, August 02, 2022 3:42 PM MYT

KUALA LUMPUR, Aug 2 – A former director of a property company has pleaded not guilty in Sessions Court here today to cheating a company out of a RM5million loan five years ago.

Teoh Soo Beng, 56, also pleaded not guilty to committing criminal breach of trust (CBT) and an alternative charge of dishonest misappropriation of property.

On the charge of cheating, Teoh allegedly deceived Puas Murni Sdn Bhd into granting him a loan of RM5 million through an agreement dated May 25, 2017 at Plaza Riverwalk, No. 1, Jalan Selvadurai Off Jalan Sultan Azlan Shah here, between May 2017 and September 2019.

He allegedly tricked Puas Murni Sdn Bhd into believing that four properties belonging to him, comprising four residential units at Jazz Suite, Jalan Seri Tanjung Pinang 1, Tanjung Tokong, Penang, were to be used as collateral for the loan, prompting the company to defraud him. give the RM5 million, which the company would not have given if it had known that was not the case.

The charge, brought under Article 420 of the Penal Code, carries a prison sentence of up to 10 years, flogging and is subject to a fine if convicted.

Teoh was also charged with CBT for selling the four properties which were used as collateral for the RM5 million loan.

The offense was committed at the same location between November 2018 and September 2019.

The charge was brought under Section 405 of the Penal Code which carries a prison sentence of up to five years, or a fine, or both, if convicted.

Teoh also faced an alternative charge, framed under Section 403 of the Penal Code for dishonest misappropriation of property, involving the four properties that were used as collateral in the loan, in a signed agreement with Puas Murni in Gurney Tower, Persiaran Gurney, Penang, between May 2017 and September 2019.

Judge Kamarudin Kamsun granted him bail of RM50,000 with bond for all charges and set September 21 for mention.

Deputy Prosecutor Nurliyana Mohd Jafri is being prosecuted, while Teoh is represented by attorney S. Raveentharan. — Bernama

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