KUALA LUMPUR – Prominent Islamic finance figure Tan Sri Dr Mohd Daud Bakar and his business partner pleaded not guilty at the Sessions Court here on Monday to seven charges of criminal breach of trust involving RM10.55 million between 2021 and 2024.
Daud, 62, who is also the former chairman of Bank Negara Malaysia’s Shariah Advisory Council (SAC) and Datuk Norliza Tajuddin, 54, entered the plea after all charges were read before Judge Suzana Hussin.
According to the charges, Daud, dressed in a black coat and Norliza, clad in grey attire, were accused in their capacity as agents, directors and shareholders of Energy Eco Sdn Bhd, of being entrusted with property and, acting with common intention, committing criminal breach of trust over the assets.
The case involved funds amounting to RM400,000 and RM200,000 belonging to Moideen Kunjayu; RM500,000, RM900,000 and RM550,000 belonging to Koperasi Perumahan Sentul Pasar Kuala Lumpur Berhad; RM2 million belonging to Datuk Dr Mashitah Ibrahim and RM6 million belonging to Myad Kapital Sdn Bhd.
They were alleged to have dishonestly misused the funds in violation of explicit agreements made regarding the discharge of the trust, namely the Shareholder’s Advance Agreements dated June 22, 2021; Jan 19, April 1, April 27 and Dec 6, 2022; as well as April 5, 2023 and May 12, 2024.
The agreements involved arrangements between Energy Eco and the four parties concerning a Shariah-compliant glove manufacturing business.
The offences were allegedly committed at two banks in Taman Setiawangsa and Bangsar here between June 22, 2021 and May 15, 2024.
All charges were framed under Section 409 of the Penal Code read together with Section 34 of the same Code, which carries a punishment of between two and 20 years’ imprisonment, whipping and a fine upon conviction.
MORE TO COME