NFCorp boss drops bid to use property for bail
KUALA LUMPUR, Aug 10 — National Feedlot Corporation (NFCorp) executive chairman Datuk Seri Mohamad Salleh Ismail, charged with two counts of criminal of trust (CBT) involving RM49.7 million, has maintained his bail of RM500,000.
This followed his decision to withdraw his application to replace the bail with a piece of property, worth RM3.4 million, as collateral.
His lawyer, Y. Sheelan Samuagam, withdrew the application before Sessions Court judge SM Komathy Suppiah, who sat in chambers today.
Deputy public prosecutor Nur Azimul Azami Mohamad Nor told reporters that Sheelan Samuagam withdrew the application after the court found that the property involved Malay reserve land.
“The court does not accept Malay reserve land as collateral, so the lawyer withdrew the application and Mohamad Salleh’s son, Wan Shahinur Izmir, remained as bailor,” he added.
On March 12, Mohamad Salleh is charged, in his capacity as NFC director, with CBT involving RM9,758,140 for financing the purchase of two condominiums at One Menerung in Bangsar.
The offence was allegedly committed between December 1 and 4, 2009 at the CIMB Islamic Bank Bhd at Taman Tun Dr Ismail.
He is also charged with transferring RM40 million into the account of National Meat & Livestock Corporation Sdn Bhd, where he and a son were the directors, between May 6 and November 16, 2009.
The offence, under Section 409 of the Companies Act, carries a jail term of up to 20 years, whipping and fine, upon conviction.
Mohamad Salleh is also charged under Section 132(2)(a) of the same Act for allegedly using the company’s assets to finance the purchase of the condominiums without the company’s arrival.
The offence carries an imprisonment for up to five years or RM30,000 fine, if found guilty.
Mohamad Salleh’s wife, former women, family and community development minister Datuk Seri Shahrizat Abdul Jalil and Wan Shahinur Izmir, were in the court today.
The case has been fixed for hearing on November 5. — Bernama