On the first count, the accused, Mohd Wannor Ramdan Awang, 25, was charged with deceiving a victim at a restaurant here, between July to September last year, to invest RM392,860, without a valid licence, as stipulated under Section 10 of the Financial Services Act 2013.
He was charged under Section 137 of the Financial Services Act 2013 and punishable under Section 137 of the same law, which carries a maximum jail term of 10 years or a fine of up to RM50mil or both if convicted. In a separate court, Wannor also claimed trial to another charge of deceiving another victim at a bank in Damai Plaza in July last year around 4pm.
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