KUALA LUMPUR, June 12 (Bernama) -- The Sessions Court here today set 15 days beginning May 27, 2027, for the trial of Islamic finance figure Tan Sri Dr Mohd Daud Bakar and entrepreneur Datuk Mahadi Badrul Zaman, who are accused of engaging in an unlicensed securities business.
Judge Mohd Kafli Che Ali scheduled the hearing to take place on May 27 and 28; July 23 and 30; Aug 9 to 11, 18 and 19; before continuing from Sept 6 to 8 and 27 to 29 next year.
"The case has been fixed for a 15-day trial according to the scheduled dates, and the next mention is set for Nov 19," the judge said, also allowing the prosecution's application for the cases involving Mohd Daud and Mahadi to be heard jointly.
Securities Commission Deputy Public Prosecutor K. Mageswary had applied for the cases to be tried jointly under Section 170 of the Criminal Procedure Code because it involves an abetment case linked to the same transactions.
She said the prosecution expects to call 25 witnesses to testify, adding that several volumes of trial-related documents were handed over to the defence today, with the remainder to be served as soon as possible.
During today's proceedings, lawyer Aiman Abdul Rahman represented Mohd Daud, while Mahadi was represented by Datuk Mohd Zamri Mohd Idrus.
Mohd Daud, 62, a former chairman of Bank Negara Malaysia’s Shariah Advisory Council, is accused of acting as a representative of Energy Eco Berhad to conspire with AUF MBZ Consortium PLT in carrying out a regulated activity of trading in securities without a licence.
The offence was allegedly committed between June 14, 2021, and Aug 9, 2023, at C6-1, Jalan Reef 1/2, Reef Business Centre, Rawang in the Gombak district, Selangor.
Meanwhile, Mahadi is accused of acting as a representative of AUF MBZ Consortium PLT to conduct an unlicensed securities business at a villa in Sunway South Quay, Subang Jaya, between Sept 3, 2021, and Feb 15, 2024.
Both charges were framed under Subsection 58(1) of the Capital Markets and Services Act 2007, read together with Subsection 367(1) of the same Act, which is punishable under Subsection 58(4) of the Act.
If convicted, the accused faces a maximum penalty of 10 years' imprisonment, a fine of up to RM10 million, or both.
-- BERNAMA
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