00:00A former CEO of UBB Investment Bank Limited pleaded not guilty on Wednesday to cheating
00:06a fellow bank executive out of nearly 140 million ringgit.
00:11Prosecutors alleged that 43-year-old Raslan Raghazli deceived UBB Amanah Berhad's managing
00:17director and CEO Aida Aizura Othman into believing a disbursement letter he signed followed legal
00:23advice from the law firm Kasim Taddin, Y & Co. when it allegedly contradicted that advice.
00:30The alleged deception led Aida Aizura to release nearly 139.9 million ringgit to LMU Higher
00:37Education Sendirian Berhad, a payment prosecutors say she would not have approved had she not
00:43been misled.
00:44The offence was allegedly committed at the bank's Deza Sri Hartamas office in September
00:49last year.
00:50Raslan was charged under Section 420 of the Penal Code, which carries up to 10 years
00:56jail, whipping and a fine upon conviction.
00:59Deputy Public Prosecutor Hazel Tanjachi proposed bail of RM100,000 with one surety, along with
01:07additional conditions requiring the accused to surrender his passport and no contact with
01:12prosecution witnesses.
01:14defence lawyer Azamuddin Abdul Aziz asked for lower bail, saying Raslan has been unemployed
01:20since June and supports four children and an ailing mother.
01:24judge Azura Alwi set bail at RM60,000 with the prosecution's other conditions intact.
01:30The case returns to court on October 12th.
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