Court acquits businessman of taking illegal deposit totalling nearly RM1 mil

KUALA LUMPUR – The sessions court here today acquitted a businessman of accepting a deposit of almost RM1 million without a valid licence.

Judge Datin Sabariah Othman delivered the ruling after finding that the prosecution failed to prove a prima facie case against T. Harikumar, 44, at the end of the prosecution’s case.

Sabariah said the court was satisfied that there was clear documentary evidence supporting the defence that the money – received from a cardiology consultant – was intended to expand the accused’s business.

“The prosecution failed to prove the elements of the charge under Section 137(1) of the Financial Services Act 2013 against the accused. Therefore, the court discharges and acquits the accused without his defence being called,” she said.

The proceedings were conducted by deputy public prosecutor Lim Chooi Yi while Harikumar was represented by lawyers Datuk K. Kumaraendran, Datuk C. Vignesh Kumar, Daniel Annamalai, and Yaw Xinying.

Five prosecution witnesses testified at the trial which lasted for four days starting on August 18.

Harikumar, who is a moneylender, was charged with accepting a deposit amounting to RM999,500 from Dr Peter Jebaseelan Jesudason without a licence issued under Section 10 of the Financial Services Act at Jalan Abdullah, Bangsar, Brickfields, here between August 1, 2018, and February 26, 2019.

The charge was framed under Section 137(1) and punishable under Section 137(2) of the same act, which carries a jail term of up to 10 years or a maximum fine of RM50 million or both. – Bernama, December 9, 2022