Datuk among six remanded over cheating Sabah govt of gold royalty kOTA KINABALU: Six people including a Datuk have been arrested for allegedly cheating the Sabah government of RM1.25mil worth of royalty from their gold mining operations.
It is believed the individuals from two mining companies did not declare about 100kg of gold, worth some RM25mil, mined from Bukit Mantri in the east coast Tawau district.
The suspects, five men and a woman aged 42 to 67, were detained by officers from the Malaysian Anti-Corruption Commission (MACC) in Tawau around midnight Tuesday (May 16) for investigations under Section 420 of the Penal Code for cheating.
At 11am on Wednesday (May 17), they were brought separately by MACC officers to the Tawau court where prosecuting officer Asmawi Kulup Lam applied for a remand order.
Magistrate Leona Dominic Mojiliu subsequently ordered all six suspects to be remanded for three days until Friday (May 19).
It is understood that the suspects, including the chief executive officer and director of a company, had allegedly tried to deceive the Sabah government by providing statements on the sale of the gold with false details.
They had apparently avoided paying royalties to the state government from the mining operations at Bukit Mantri.
It was learned that the 100kg of gold was part of the find from mining operations in the area from 2020 to last year.
It was believed that two companies allegedly conspired to commit the crime.
JuliusCeasar Aiyooo!! Tomorrow look like another drop and below 10C again.
Dont despair my friend. Within the price dynamics for tomorrow, there might be a temporary fear instilled moments when the market maker test the sentiment from the news coverage to make those faint-hearted release their holdings to him. Based on the previous trading prices, the 12 sen level was being protected like crazy. .............................
The moment of truth will be known at 9.00AM whether the recent news is receptive to the market or not be it market makers or otherwise from the reflection of share price . if it is positive, then someone wins the jackpot.If it is negative, someone bites the dust.
The fellow is detained until 19th May ( this Friday) .Whether he will be charged or not remains to be seen. Nevertheless , As at to date, he is innocent until proven to be guilty by the Court. We'll wait and see.
Whether you like it or not , the lawsuit will proceed and the encroachment in private land is still valid. DL is set to be richer by RM 300k per month if the new management wish to continue to operate the Factory.
I read the remand might be extended to 14 days .... if need to ! appparently FL & gangs are plotting something to bring down those bus-tards ! During this duration of time, share price shall be safe from FL & son's onlaught !! who knows ??
If next few days/ weeks SC or FL & gangs initiate court action against DL & son for conflict of interest, breach of director's duty, breach of Bursa rules etc.... the share price will SHOOT UP for sure !! I bet !
Come on DL spread your legs and shit out all your balance holding. Dont waste time, dreaming of a return. The most despised and marked man of all time at Bahvest.
You buy,sure kena katok later. It will be long stories. Directors informed mining halted and will impact earning.. Whehln FYR release possibility it will be another round throwing.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
Bullballs
1,194 posts
Posted by Bullballs > 2023-05-18 00:39 | Report Abuse
Where is Alankam? Can't find internet connection is it?