Forex investment: Malaysian Man charged with cheating

In Kota Kinabalu, Malaysia, a former director of an investment company, Azlin Awang Chee, 42, was charged in the Magistrate's Court on Thursday with 10 counts of cheating 10 individuals in relation to a forex investment totaling RM457,735.50.

Azlin Awang Chee faced the first eight charges before Magistrate Stephanie Sherron Abbie and the remaining two charges before Magistrate Lovely Natasha Charles. He pleaded not guilty to all the charges.

Azlin is accused of deceiving each of the 10 individuals by persuading them that he could secure favorable returns on foreign exchange investments through Prixo Markets. He allegedly induced them to hand over money to him at different locations here, between April 20, 2020, and April 21, 2021.

Each charge under Section 420 of the Penal Code carries a potential jail term ranging from one year to 10 years, along with whipping and liability to a fine, upon conviction.

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In the first count, Azlin was charged with cheating Tay Sui Jhung of RM192,672.50 between October 27, 2020, and August 5, 2021, at a unit in Asoka Condominium, Luyang. On the second count, Azlin allegedly cheated Elsie Anna Wilfred of RM9,000 between May 8, 2021, and May 12 of the same year at Alam Damai Condominium.

For the third count, Azlin was accused of cheating Tiong Hau Chong of RM2,700 between 1:36 pm and 6:07 pm on December 30, 2020, at a restaurant in Lintas Square. Meanwhile, on the fourth count, Azlin was charged with cheating Alexander Ngoh of RM56,250 between April 14, 2021, and April 19 of the same year at the City Mall here.

On the fifth count, Azlin allegedly cheated Oliver Thien of RM36,000 between November 8, 2020, and May 20, 2021, at Alam Damai Condominium. Moving on to the sixth count, Azlin was accused of cheating Chung Teing Hau of RM45,000 at Mesra Apartment here between 9:07 am and 9:10 am on February 5, 2021.

On the seventh count, Azlin was charged with cheating Liu Ping Shi of RM18,000 at 7:53 pm on April 21, 2021, at a coffee shop in Foh Sang. Finally, on the eighth count, Azlin allegedly cheated Mathew Wong of RM20,000 between 3:21 pm and 3:31 pm on April 20, 2020.

In the case at hand, Azlin faces charges on two separate counts. In the ninth count, she stands accused of defrauding Robin Nicholas Yong of RM39,113 between September 30, 2020, and November 11 of the same year. The alleged incident took place at Taman Antarabangsa. Moving on to the tenth count, Azlin is charged with cheating Monica Yong of RM39,000 during the same period, September 30, 2020, to November 11, 2020, at the same location.

The prosecuting officers, Inspector Suzie @ Stephanie Kupit and Kelvan Elson Maik, have sought bail for Azlin at RM6,000 and RM4,000 for each respective charge. They have requested two sureties for each bail amount. Additionally, the prosecution has applied for case management dates to further proceed with the legal process.

Representing Azlin in court, Counsel PJ Perira sought a reduction in the bail amount based on several grounds, one of which was Azlin's local ties as a resident with a family consisting of a spouse and three children. Perira also emphasized that Azlin poses no risk of fleeing from the authorities.

Perira further disclosed that at the time of the alleged offenses, Azlin held a directorial position in an investment company. However, following investigations under the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 (AMLA) and Section 420 of the Penal Code, Azlin has been unemployed.

With these circumstances in mind, Counsel PJ Perira proposed a bail amount of RM1,000 for each charge against Azlin.

After due consideration, the Magistrates granted bail to Azlin at RM2,000 in two sureties for each charge. Additionally, the court scheduled the case management to take place on August 24.