KUALA LUMPUR, Jan 4 — A business consultant pleaded not guilty in the Sessions Court here today to a charge of cheating a man to obtain an investment licence involving a loss of RM3.3 million, two years ago.

Johnathan Wong Futt Po, 40, was charged with cheating the 45-year-old man by deceiving him into believing that the accused would handle all matters to obtain an investment licence when the accused did not have any capacity to do it.

It prompted the victim to make a money transfer amounting to US$789,014 (RM3,316,431.40) which was deposited into the accused’s crypto e-wallet.

The offence was allegedly committed in the Strata Office Tower, KL Eco City, Jalan Bangsar here, and the charge was framed under Section 420 of the Penal Code which provides a maximum imprisonment of 10 years and whipping and liable to a fine, upon conviction.

Deputy public prosecutor Akmalzatul Mohamed Nawi proposed bail of RM100,000 in one surety while lawyer Siti Anis Che Ab Wahab, representing the accused, appealed for a lower bail of RM50,000.

Judge Azrul Darus allowed bail of RM80,000 in one surety and fixed February 5 for mention. — Bernama