Another Island Red Cafe director charged
2010/02/11
KUALA LUMPUR Another Island Red Cafe Franchise Sdn Bhd director was charged in the Ampang Sessions Court here today with three counts of abetment and cheating investors of a total of RM16 million.
On the first count, he is alleged to have abetted another director, Teow Wooi Huat, to cheat 93 people by inducing them to pay RM1,040,400 into the company's account to invest in the "Island Red Cafe" programme.
He is also charged with inviting members of the public to deposit a total of RM15,061,800 in the company's account to join the Island Red Cafe programme for five years.
He faces a third charge of offering the company's shares for sale to the public through the same programme when, at the time the offer was made, it was not its normal business to trade in shares.
All the charges were under the Companies Act 1965. The first charge carries a maximum RM30,000 fine or seven years jail, or both, while the other two carry a maximum RM250,000 fine or 10 years jail, on conviction.
Judge Azwarinda Affandi allowed bail of RM100,000 with two sureties and fixed March 9 for mention.
Prosecuting officer from the Malaysian Companies Commission Rezy Izwan Ramli while Ong was represented by counsel Raymond Yap.
On Feb 9, Teow Wooi Huat and his son, Teow Chee Chow, 21, also a director of the company, pleaded not guilty in the Ampang Magistrate's Court to three similar charges.
That case will be heard before judge Noradidah Ahmad. -- BERNAMA
