Judge Rozina Ayob acquitted K Jayakumar, 47, after finding that the prosecution had failed to prove a prima facie case against him.

A total of 36 prosecution witnesses testified in the trial which began on Oct 29, 2018.

Jayakumar, a director of an electrical goods and home appliances company, was charged with transferring RM16.5 million from the Maybank account of SMT Rezeki Sdn Bhd to a Maybank account belonging to Sinar Mentari Technology Sdn Bhd, believed to be proceeds from illegal activities.

For the 75 counts of submitting false invoices, he was charged with giving TTD Solutions Sdn Bhd invoices amounting to RM20.7 million containing false details on the supply of smartphones.

The charges were framed under Malaysian Anti-Corruption Commission Act 2009 which provides for a maximum imprisonment of 20 years and a fine of not less than five times the value of the false items, or RM10,000, whichever is higher.

The prosecution was handled by MACC deputy public prosecutor Mahadi Abdul Jumaat while lawyers Shashi Devan and Teh See Khoon represented Jayakumar.