[UPDATED] Former investment bank CEO charged with RM139.8mil fraud
KUALA LUMPUR: A former chief executive officer of an investment bank pleaded not guilty in the Sessions Court today to cheating involving a RM139.8 million payment to a private university management company.
![[UPDATED] Former investment bank CEO charged with RM139.8mil fraud](/img/1859290)
KUALA LUMPUR: Former UBB Investment Bank CEO Razlan Raghazli appeared in court charged with RM139.8 million fraud. Prosecutors allege he deceived Aida Aizura Othman, CEO of UBB Amanah Bhd, into paying a sum that contradicted legal advice. Raghazli pleaded not guilty, claiming he did not know the payment schedule was fraudulent. If found guilty, he faces up to 10 years in prison, whipping, and a fine.
Bail was set at RM60,000 with conditions including surrendering his passport and no contact with prosecution witnesses. The case is scheduled for a mention on Oct 12.
Written by urgent.news from New Straits Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
