A predicate charge refers to a charge for an illegal activity that is the foundation of another charge.

Ahmad Azwan Aboo Mansor, who carries a Datuk title, however, will continue to face four charges under Section 4(1)(b) of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001.

On March 17, 2021, he was charged in the sessions court with 16 counts of disposing of RM8 million in proceeds from unlawful activities.

The four remaining charges involving RM3.9 million were alleged to have been committed at Bank Islam’s Taman Melawati branch, between January 2016 and December 2017.

Today, Azwan, 54, claimed trial when the charges were read to him before sessions court judge Suzana Hussain.

The judge also allowed deputy public prosecutor Rozalina Zakaria’s application that Azwan be given a discharge not amounting to an acquittal for 12 charges.

Lawyer Harjinder Singh Sandhu did not object to the application.

Deputy public prosecutors Afif Ali and Haresh Prakash Somiah also appeared for the prosecution.

Azwan is accused of cheating MyIPO by deceiving a senior officer into investing in a scheme called BIMB i-Fund (Money Market Instrument/Fixed Deposit), which promised a return of 6% per annum, when in fact the scheme was a unit trust investment called BIMB i-Dividend Fund.

He was charged with fraudulently inducing MyIPO to invest RM85.5 million into the BIMB account, registered in the name of BIMB Investment Management Bhd (i Dividend).

The offence was alleged to have been committed at the Ixora meeting room, MyIPO, Level 19, Tower B, Menara UOA, Bangsar, on Nov 25, 2015.

Azwan also faces an alternative charge of forging a presentation paper titled BIMB i-Fund (Money Market Instrument/Fixed Deposit), with the intention of using the falsified document to deceive, resulting in a loss of RM85.5 million.

The prosecution is expected to close its case today after the investigation officer who probed the money laundering charges completes her testimony.