Former UiTM Holdings CEO Azlizan Fadzil faces a RM37.37 million CBT charge over alleged misappropriation of funds for a solar project in Pahang.
SHAH ALAM: Former UiTM Holdings Sdn Bhd chief executive officer Azlizan Fadzil, 53, today claimed trial at the Sessions Court here to a criminal breach of trust (CBT) charge involving RM37.37 million.
Azlizan, who appeared in court in a wheelchair, pleaded not guilty after the charge was read out before Sessions Court judge Datuk Mohd Nasir Nordin.
According to the charge, Azlizan, as CEO of UiTM Holdings, was entrusted with RM37,374,612.68 allocated for the development of a 50-megawatt (MW) large-scale solar photovoltaic power generation project in Gambang, Pahang.
He was accused of dishonestly misappropriating the funds by making various payments for purposes other than those for which the money had been allocated.
The alleged offence took place at Affin Bank Bhd’s UiTM Shah Alam branch between Feb 2 and Oct 2, 2017.
If convicted, Azlizan faces between two and 20 years’ imprisonment, whipping and a fine under Section 409 of the Penal Code.
The Malaysian Anti-Corruption Commission (MACC) had previously investigated allegations of misappropriation involving UiTM Holdings, which reportedly resulted in losses of RM157 million.
The investigation focused on several issues, including funds and investments made by UiTM Holdings that allegedly resulted in losses amounting to millions of ringgit.
UiTM Holdings was previously reported to have recorded cumulative pre-tax losses of about RM157 million for the financial years 2017, 2018, 2019 and 2021.
