In Butterworth, a man appeared before the Sessions Court on Friday (Jan 26) to plead not guilty to a charge of receiving deposits totaling more than RM100,000 without a license two years ago.
Sai Bee Nyean, aged 59, was accused under Section 10 of the Financial Services Act 2013 for accepting RM103,635 in deposits from a woman without the appropriate license.
The alleged incident occurred between May 2022 and August 2022 at a location in Lorong Melor, Sintat Garden Off Jalan Raja Uda in Butterworth.
According to the report, Sai was charged under Section 137(1) of the Financial Services Act 2013, and if found guilty, he could face a maximum prison sentence of 10 years or a fine of up to RM50 million, or both.
Deputy Public Prosecutor Wan Amira Ruzaini Wan Abdul Razak did not offer bail, but Sai’s lawyer, Ch’ng Kim Hock, requested bail, citing his client’s need for regular dialysis treatment due to being a kidney patient.
Judge Zulhazmi Abdullah granted Sai bail in the amount of RM20,000 with two sureties, and also instructed him to surrender his passport to the court.
The court scheduled a mention for Feb 26. – Bernama
