The accused, Datuk Mohammad Fadino Khairuman, 37, pleaded not guilty when the charges were read in front of magistrate Sharifah Maleeha Syed Hussin.
According to the charge sheets, Fadino had allegedly induced 46-year-old L. Rajan into investing 10 bitcoins worth about RM29,002 into the website www.bitkingdom.com, which Fadino owns. Fadino is said to have then changed the investment from bitcoins into Aureus digital currency despite knowing that that the digital currency is not as valuable as bitcoins.
He allegedly committed the offence in 2017 at a bank in Kulai and was charged under Section 415 of the Penal Code for the offence.In submissions for bail, Fadino's lawyer Fahmi Abd Moin asked for a lower bail as his client had recently posted bail between RM3,000 to RM8,000 at other courts, including in Klang, Petaling Jaya, Ampang and Kuala Lumpur for other offences.
Sharifah set August 25 for next mention while bail was set at RM6,000 with one surety, and Fadino later posted bail