BUTTERWORTH: A man pleaded not guilty in the sessions court here today to a charge of accepting deposits amounting to more than RM100,000 without a licence in 2022.
Sai Bee Nyean, 59, was charged with breaching Section 10 of the Financial Services Act 2013 by illegally accepting RM103,635 in deposits from a woman.
He was charged with committing the offence between May and August 2022 at a premises at Lorong Melor, Sintat Garden, off Jalan Raja Uda here.
Sai was charged under Section 137(1) of the Financial Services Act 2013 and can be punished under Section 137 (2) of the same law, which provides for a maximum prison sentence of 10 years or a fine of up to RM50 million, or both, upon conviction.
Deputy public prosecutor Wan Amira Ruzaini Wan Abdul Razak did not propose bail, but lawyer Ch’ng Kim Hock, representing Sai, requested the court to grant bail because his client is a kidney patient who needs dialysis several times a week.
Judge Zulhazmi Abdullah set bail at RM20,000 in two sureties and also ordered Sai to surrender his passport to the court.
The court set Feb 26 for mention.