Ahmad Azwan Aboo Mansoor, 54, was charged with deceiving the board by misleading the agency into entering into an investment agreement with CIMB Islamic Dali Equity Theme Fund through false representation, thereby inducing the board to issue a cheque worth RM100 million, which it would not have done if it had not been deceived.

The offence was allegedly committed at LPSVN, Jalan Temerloh, off Jalan Tun Razak, Wangsa Maju, here, on June 10, 2014.

The charge, under Section 420 of the Penal Code, provides for a jail term of one to 10 years with whipping and a fine, upon conviction.

Azwan was also charged with four counts of using forged documents, namely two dividend payment documents from CIMB Islamic Dali Equity Theme Fund, one zakat payment confirmation for the CIMB Islamic Dali Equity Theme Fund investment, and one CIMB Islamic Dali Equity Theme Fund-Status document.

All four offences were allegedly committed at the same location between June 9, 2017 and May 22, 2018.

He was charged under Section 471 of the Penal Code which carries a maximum jail sentence of two years or a fine or both, upon conviction.

Deputy public prosecutor Norfauzani Nordin proposed a RM100,000 bail for all five charges.

Counsel Harjinder Singh Sandhu sought to have the bail amount reduced to RM12,000, saying that his client had been declared a bankrupt and had lost his source of income.

Judge Hamidah Deril set bail at RM50,000 and fixed Oct 21 for mention.