KUALA LUMPUR – The defence for businessman Datuk Mahadi Badrul Zaman, who is charged with conducting unlicenced securities dealings pleaded for bail, saying he fears his beard would be shaved if he is held in jail while awaiting trial.
Lawyer Datuk Mohd Zamri Mohd Idrus, who represented the 43-year-old who is the husband of singer and activist Heliza Helmi, raised the matter during submissions before judges Azrul Darus and Norma Ismail.
“If bail is not granted and my client is in jail, his long beard may be cut off. This would affect him,” he said.
He also urged the court to consider that Mahadi supports his mother, who is suffering from cancer, as well as his in-laws.
Zamri added that his client, who assists in managing umrah pilgrimage groups, has cooperated with authorities and does not pose a flight risk.
However, Securities Commission (SC) prosecuting officer Danial Imran Nasaruddin argued that the court should consider public interest and investor confidence in the securities market in granting bail.
He proposed a bail of RM250,000 with two sureties, along with additional conditions including for the accused to surrender his passport to the court and reporting to the SC office once a month.
After hearing submissions from both parties, each court allowed Mahadi bail of RM50,000 with one surety, along with the additional conditions proposed by the prosecution.
Earlier, Mahadi was charged, as a representative of AUF MBZ Consortium PLT, with carrying out securities dealings despite the company not holding a Capital Markets Services Licence and not being registered to conduct securities activities.
The offence was allegedly committed at a villa in Sunway South Quay, Subang Jaya, between June 14, 2021 and Feb 15, 2024.
The charge was framed under Subsection 58(1) of the Capital Markets and Services Act 2007, read together with Subsection 367(1) of the same Act and punishable under Subsection 58(4).
If convicted, he faces a fine of up to RM10 million, imprisonment of up to 10 years, or both.