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Islamic finance mogul, director charged with RM10.55m CBT
Islamic finance mogul Daud Bakar was hauled to the Kuala Lumpur Sessions Court again this morning, where he was charged together with one Norliza Tajudin with seven counts of criminal breach of trust (CBT) involving RM10.55 million.
The duo, charged in their capacity as Energy Eco Berhad’s shareholder and director, claimed trial to the charges before judge Suzana Hussin today.
Islamic finance mogul Daud Bakar was hauled to the Kuala Lumpur Sessions Court again this morning, where he was charged together with one Norliza Tajudin with seven counts of criminal breach of trust (CBT) involving RM10.55 million.
The duo, charged in their capacity as Energy Eco Berhad’s shareholder and director, claimed trial to the charges before judge Suzana Hussin today.
The duo were alleged to have dishonestly used RM600,000 belonging to Moideen Kunjayu; RM2 million belonging to Mashitah Ibrahim; RM1,950,000 belonging to Koperasi Perumahan Sentul Pasar Kuala Lumpur, and RM6 million belonging to Myad Kapital Sdn Bhd, which were entrusted to them.
The charge sheet detailed that they breached contracts signed with the individuals and entities by committing CBT between June 22, 2021, and May 15, 2024, at Maybank Taman Setiawangsa and RHB Islamic Bank in Bangsar Shopping Centre.
The contracts were shareholders’ advance agreements that required the funds to be used solely to finance the construction and expansion of the company’s glove manufacturing business in compliance with syariah principles.
Their charges were framed under Section 409 of the Penal Code, which carries a jail term of two to 20 years, caning, as well as fine.
RM100k bail granted
Deputy public prosecutor Mahadi Jumaat informed the court that both the prosecution and the defence counsels had agreed to RM100,000 bail for Norliza and RM50,000 bail for Daud.
He further said that the parties agreed for the accused's passport to be surrendered to the court, that they report themselves to MACC once a month, and not to disturb the prosecution’s witnesses.
Lawyer Zahida Zaman, who represented Norliza, then informed the court that her client requested that her bail be paid in stages, where she is able to pay RM50,000 today, and the remaining balance to be paid within seven days.
The court then ordered a RM100,000 bail for each accused, with Norliza allowed to pay her bail in instalments and her passport surrendered to the court. Daud’s passport has already been surrendered to the court in his previous case.
The judge also ordered the duo to report themselves to MACC on the first week of every month, as well as not to disturb the prosecution’s witnesses directly or via a third party.
She also fixed June 19 for mention.
Lawyer Hamidi Noh represented Daud in today’s proceedings.
Daud’s previous case
Daud was previously charged in February with abetting a company to undertake unlicensed securities dealings between 2021 and 2023.
He was accused in his capacity as Energy Eco Berhad’s representative, where his involvement was alleged to have allowed AUF MBZ Consortium PLT to undertake the dealings without a capital market services licence (CMSL) between June 14, 2021, and Aug 9, 2023.
The former Bank Negara syariah advisory council chairperson was charged under Section 58(1) of the Capital Markets and Services Act 2007, which carries a maximum of 10 years’ jail or a maximum of RM10 million fine, or both.
He pleaded not guilty to the charge before judge Norma Ismail.
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