Two gold investment company directors were charged in the Sessions Court in Kuala Lumpur today with receiving deposits totalling more than RM400 million from the public without a valid licence.

Liew Choon Khee, 34, and How Soo Feng, 39, denied committing the offence through a scheme allegedly initiated by their company, Gold Label Sdn Bhd at A-21-1, Level 21, Northpoint Offices, Tower A, Mid Valley City, No. 1, Medan Syed Putra in Kuala Lumpur between April 22, 2009 and May 6, 2010.

Judge Norsharidah Awang set bail at RM600,000 with one surety each and ordered their passports to be impounded pending mention on Nov 29.

Prosecuting officer Mohd Shukri Ahmad Mansor from Bank Negara prosecuted, while counsel M Kavimani represented both accused.

- Bernama