Ex-manager’s jail term set aside, fined RM100,000 for deposit-taking

 

The Court of Appeal said although penalties in illegal deposit-taking cases are usually high, the RM100,000 fine was appropriate given the facts and circumstances.

PUTRAJAYA: A former insurance company manager had her jail term set aside but saw her fine substantially increased after she failed to overturn a conviction for illegal deposit-taking in her final appeal.

Norihan Talib’s three-year jail term was set aside by the Court of Appeal today, but the RM30,000 fine imposed by a lower court was increased to RM100,000, or three months’ jail in default of payment.

Under the Financial Services Act (FSA), those found guilty may be jailed for up to 10 years and fined a maximum of RM50 million.

A three-member Court of Appeal bench, chaired by Justice Ahmad Zaidi Ibrahim, said Norihan’s appeal had no merit.

“The conviction by the trial court is safe,” said Zaidi, who sat with Justices Zaini Mazlan and Noorin Badaruddin.

Norihan’s case is reputed to be the first time an individual who was convicted of taking a deposit without a licence from another person had brought the matter to the appeals court. Previous cases involved multiple deposit-takers.

Zaidi said although penalties in such cases are usually high, the RM100,000 penalty imposed on Norihan was appropriate given the facts and circumstances of the appeal.

He said the bench agreed with the prosecution that the transaction fell within the definition of “deposit” as set out in the FSA, and necessitated proper licensing.

Norihan had paid the RM30,000 fine two years ago, after the sessions court pronounced her sentence. She was freed on RM60,000 bail pending appeal.

The High Court dismissed her appeal last year.

It is unclear if Norihan settled her fine in full before the end of office hours today.

Norihan, 50, committed the offence when she received money from Khaled Kamel Khader between Feb 27 and March 12, 2014 at the Tabung Haji building in Gombak, Selangor.

The transaction led to a charge under Section 137 of the FSA for illegal deposit-taking.

Lawyers Hariharan Tara Singh and Syazwani Zawawi represented Norihan, while deputy public prosecutor Fairuz Johari appeared for the prosecution. - FMT