Businessman claims trial to 19 counts of fraud involving RM35 million in assets
By Halim Said - June 13, 2016 @ 2:45pm
JOHOR BARU: A 43-year old businessman claimed trial at the Sessions Court here to 19 counts of committing fraud involving RM35 million of companies' assets.
Lim Kwee Gee, a director of a textile manufacturing company with overseas business ventures, pleaded not guilty to the charges of concealing assets and dishonestly trying to dispose of the assets from another individual to evade settling a company's debts involving property assets valued at RM35 million.
For the offences, Lee faces a maximum five years jail term with a fine for each of the offence charged under Section 421 and Section 422 of the Penal Code, for concealment of property and fraudulently preventing a debt to be made available, respectively.
Deputy public prosecutor M. Anas Mahadzir proposed a RM400,000 bail on the accused and asked for his passport to be surrendered to the court.
Lee's lawyer counsel Kitson Foong did not object to the bail amount but asked the court permission for his client to use his pasport for he has business deals in Singapore and China.
Kamarudin set bail at RM400,000 with two sureties and for Lee to use his passport for work, provided the prosecuting team and the court are informed about it.
He fixed Nov 28 for trial.