Business charged with 19 counts of fraudulent disposition of property

JOHOR BARU, June 13 — A businessman pleaded not guilty in the Sessions Court here today to 19 counts of fraudulent disposition of property, worth RM35 million, to avoid paying his debts.

Lim Kwee Gee, 43, made the plea after the charges were read out to him before Judge Kamarudin Kamsun.

He was charged with committing the offences at the Johor Baru Land and Mines Office between July 2011 and Feb 2011.

Seven of the charges were for transferring property belonging to Megafest Sdn Bhd to himself, his company and another person to prevent distribution of the assets to his eight creditors, including RHB Bank and OCBC Bank Berhad.

The other 12 charges were for dishonestly preventing the property belonging to Megafest Sdn Bhd and another from being made available to the creditors by transferring the property to his name, his company and another person.

Lee, from Taman Suria here, was charged under Section 421 and 422 of the Penal Code which provide an imprisonment for up to five year and fine, if found guilty.

Deputy public prosecutor Muhamad Anas Mahadzir prosecuted, while Lee, who is married with two children, is represented by lawyers Kitson Foong and Jean Lew.

Judge Kamarudin set bail at RM400,000 in two and also ordered Lee to surrender his passport and to report himself at the Sri Gading police station in Batu Pahat every month.

He also set Nov 28 to Dec 1 to hear the case. — Bernama

from Malay Mail Online | All http://ift.tt/1ZK3BQ4

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