Former Bahvest CEO Datuk Lo Fui Ming and his son, Lo Teck Yong were charged with 24 counts each of cheating the Sabah state government with regards to their failure to declare the proper quantity of gold bars sold.

KUALA LUMPUR (Oct 25): Former Bahvest CEO Datuk Lo Fui Ming and his son, Lo Teck Yong, claimed trial at the Sessions Court Kota Kinabalu with 24 counts each of cheating the Sabah state government with regards to their failure to declare the proper quantity of gold bars sold.

Fui Ming, 67, of Sandakan, was said to have cheated the government by failing to declare the actual gold bars sold via the invoices produced to the Geoscience and Minerals Department, Sabah Land and Survey Department, and the Sabah Earth Revenue Office between December 2019 and July this year.

It is said that Fui Ming failed to declare 26 gold bars sold during the period resulting in the Sabah state to lose RM1.3 million in royalty revenue from the proceeds.

The said invoices are from Wullersdorf Resources Sdn Bhd, in which he is also the former company CEO.

His son, Teck Yong, 47, a former director of Wullersdorf Resources, is jointly charged with the father.

Wullesdorf Resources was said to have conducted gold mining activities at Bukit Mantri, Tawau.

The charges are under Section 418 of the Penal Code, where if convicted, the duo could face a jail term of up to seven years or fine or both for each charge.

Deputy public prosecutor Zander Lim Wai Kong appeared for the prosecution while the father and son were represented by lawyer Zahir Shah.

Lim, when contacted by The Edge, confirmed the charges on Fui Ming and Teck Yong.

Sessions Court judge Jason Juga set bail at RM100,000 each and fixed Dec 8 for mention.