[UPDATED] Ex-FIC CEO pleads not guilty to two charges over Felda land deal
KUALA LUMPUR: Former Felda Investment Corporation Sdn Bhd (FIC) chief executive officer Mohd Zaid Abdul Jalil was charged with two counts of cheating the company’s board over the proposed commercial development of Felda land in Jalan Semarak here.
![[UPDATED] Ex-FIC CEO pleads not guilty to two charges over Felda land deal](/img/10592508)
Kuala Lumpur: Former Felda Investment Corporation Sdn Bhd CEO Mohd Zaid Abdul Jalil pleaded not guilty to two charges over alleged misrepresentations to the company's board regarding a commercial development project. Zaid was accused of deceiving the board about the qualifications of Synergy Promenade Sdn Bhd as the project's master developer in January 2014, and about the market value of 24 Felda land lots earmarked for the development in April 2014.
Both charges, under Section 417 of the Penal Code, carry up to five years' imprisonment, a fine, or both upon conviction. Deputy public prosecutor Radzi Shah Razak asked for RM100,000 bail, while Zaid's lawyer Shahrullah Khan requested minimum bail, citing the defendant's financial difficulties. The court set bail at RM60,000 and set a mention date of October 29.
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