SHAH ALAM (Oct 13): Cuscapi Bhd's former chief executive officer (CEO) Her Chor Siong has today been charged at the Sessions Court here with two counts of criminal breach of trust with the company's property resulting in losses of US$7.9 million.
This follows the purchase of 11000 units of Rev Industrial Tablet CX 1000-A102S which is said to be above the market price which did not get the company's board approval.
Her, 48, is first charged with criminal breach of trust for allowing the purchase of 1,000 units of the tablet at a price of US$582 per unit which is a difference of US$301 per unit without the board's approval resulting in a loss of US$1.218 million.
He is also charged with purchasing another 10,000 units of the same tablet without the approval of the board resulting in a loss of US$6.389 million to the company.
Her was charged with allegedly committing the offence between Oct 1, 2016 and April 9, 2018 at Level 1, Block B, Peremba Square, Section U2, Shah Alam.
He is charged under Section 405 of the Penal Code where under this section, he stands to face a maximum 10 years jail term and be liable for whipping and a fine.
The accused claimed trial to the two charges. He is represented by lawyer Reuben Kumar.
Malaysian Anti Corruption Commission Deputy Public Prosecutor Allan Suman Pillai and DPP Maziah Mohaide appeared for the prosecution.
Sessions Judge Rosilah Yop set bail at RM500,000 with one surety and had his passport impounded.
Rosilah also fixed Nov 27, this year for the prosecution to hand all related documents regarding this case as required under Section 51A of the Criminal Procedure Code.