KUALA LUMPUR, March 16 — A businessman who used a fake ‘Datuk Seri’ title was charged in two Sessions Courts here today, on 12 counts of cheating 12 individuals in connection with a non-existent Planetrade investment syndicate, involving losses amounting to RM2.2 million.
The accused’s act prompted the victims to transfer a total of RM2.2 million into the accounts of his companies, including Planemax Essentials Sdn Bhd, Planetrade Holdings Sdn Bhd, Planeworld Flexi Sdn Bhd and Planetrade Premier Sdn Bhd, to which the victims would not have transferred the money had they been not duped by the victim.
All offences were alleged to have taken place at the same place and dates, and the charges were framed under Section 109 of the Penal Code, read together with Section 420 of the same law, which carries a maximum jail term of 10 years and whipping and fine, if convicted.