KUALA LUMPUR: A consultant to gold investment company Genneva Malaysia Sdn Bhd was charged at the Sessions Court yesterday with two counts of abetting the company in illegal deposit taking involving RM5.5 billion.
Datuk Joseph Kow Hock Beng, 55, pleaded not guilty to abetting the company in accepting deposits in two bank accounts from the public without a licence through a gold transaction scheme.
He allegedly committed the offence at the company's office in Jalan Kuchai Maju 6, off Jalan Kuchai Lama here between Jan 10, 2011, and Oct 1 last year.
Bank Negara deputy public prosecutor Fahmi Abd Moin urged the court to deny bail as it was a non-bailable offence.
"However, if the court wants to use its discretion to grant bail, we propose that the bail be set at RM1 million."
Lawyer Datuk Ghazi Ishak told the court that his client's assets had been frozen and proposed that bail be set at RM50,000. "My client also suffers from heart problems."
Judge Mat Ghani Abdullah allowed bail of RM200,000 in one surety and ordered Kow to surrender his passport to the court.
He set Nov 27 for case management.
New Straits Times
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