Eight fined for offering non-existent investments

KUALA LUMPUR: Eight individuals were each fined RM1,500 by the Magistrate’s Court here Tuesday for offering non-existent investments last year.

They are R. Tharumaraj Pillai, 34; R. Vassanthakumar, 25; J. Subash Kavinder, 26; Muhammad Hafizuddin Muhammad Rafi Keettikandy, 24; Hema Tharshini, 27; C. Kasturi, 21; S. Dhaarshini, 25; and B. Eswari, 47.

Magistrate Nurul Izzah Shaharuddin imposed the sentences after the four men and four women pleaded guilty to charges of offering investments in BMS Providers Resources that did not exist, in a residential area in Wangsa Maju here on Oct 28, 2023.

The charges were under Section 120B(2) of the Penal Code, which carries a maximum penalty of six months’ imprisonment or a fine or both upon conviction.

The court also ordered all the accused to serve one month in jail if they failed to pay the fine.

Earlier, Deputy Public Prosecutor ASP Nom Phot Prackdit sought a heavy sentence as a deterrent to all the accused.

Lawyer R. Kirthiraj, representing the eight accused, requested a minimum fine as his clients, who earned between RM1,200 and RM1,800, have family responsibilities and it was their first offence.

Meanwhile, before Magistrate S. Mageswary, Subash Kavinder, Dhaarshini, and Kasturi were each fined RM3,000 or three months’ imprisonment in default after pleading guilty to offering non-existent investments in an apartment in Taman Bukit Cheras here on Sept 14 last year, under the section of the Penal Code.

The prosecution was conducted by Deputy Public Prosecutor Sareeka Balakrishnan while the three accused were represented by the same lawyer.