Ex-UBB Investment Bank CEO claims trial to RM139mil cheating charge
Razlan Raghazli is accused of deceiving the CEO of UBB Amanah Bhd into releasing a RM139.8 million payment to a private university management firm.
Former UBB Investment Bank CEO Razlan Raghazli stood trial in a Kuala Lumpur court, facing charges of theft totalling RM139.9 million. Raghazli, 43, denied the allegation, claiming that he believed the payment schedule in a loan agreement to a private university complied with legal advice, which was allegedly provided by a law firm.
The court heard that Raghazli's actions led to the bank releasing the significant loan to Elmu Higher Education Sdn Bhd. Charged under Section 420 of the Penal Code, Raghazli faces up to 10 years in prison, a fine, and potential whipping upon conviction. He was granted bail of RM60,000 with one surety and ordered to surrender his passport until the case was resolved. The court set October 12 for the next mention in the case.
Written by urgent.news from Free Malaysia Today's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
- Ex-UBB Investment Bank CEO claims trial to RM139mil cheating charge freemalaysiatoday.com
- Former UBB Investment Bank CEO pleads not guilty to RM139.8m cheating charge malaymail.com
