Deputy public prosecutor Chong Loong Men, who was assisted by Securities Commission (SC) prosecuting officer Zul Aida Zulkifli, asked the court to set bail at RM1 million as the quantum involved in the case was more than RM20 million.
However, Rajendram's counsel, Datuk N. Sivananthan, asked for a lower bail as his client had been cooperative with the SC throughout the investigations and it was "only charges" at this stage.
"He was admitted to the Penang Gleneagles Medical Centre for three days and was discharged yesterday (Wednesday). The first thing he did when he was out of hospital was to contact the SC to say he was ready to face the charges against him. He is not running away," Sivananthan said.
Sivananthan also asked the court to consider the option whereby the bailor would only have to pay 20 per cent of the RM1 million bail proposed by the prosecution, with the balance payable if the accused failed to attend court.
He also asked the judge to consider a second option to set a bail amount of between RM350,000 and RM400,000.
In court yesterday, Rajendram's brother-in-law, who introduced himself to the court as Brian Fernandez, came forward as the bailor.
Judge Komathy Suppiah asked the bailor if he had the means to post bail for Rajendram, based on the RM1 million proposed by he prosecution.
To this the bailor said "No", adding that he could raise up to RM500,000, with the rest secured by assets.
The judge then set bail at RM1 million, with RM500,000 to be deposited as security.
She also asked for Rajendram's passport to be surrendered to the court.
Rajendram was charged with acting to defraud LFE Corp by utilising RM9 million belonging to the company to purchase nine million units of the company's shares between January 4 and February 8 2007.
He faces an alternative charge of criminal breach of trust (CBT) involving RM9 million on January 4 2007.
He was also charged with CBT involving RM9.99 million between January 11 and 16 2007.
The third and fourth charges were for abetting Chin Soong Jin, 43, to cheat EON Bank Bhd involving RM2.67 million between October 16 2006 and November 28 2006.
The fifth charge was for abetting Chin and Liew Kiam Woon, 46, to cheat EON Bank involving RM1.298 million on December 26 2006.
The rest of the four charges were for furnishing false statements to Bursa Malaysia Securities Bhd between May 31 2007 and February 28 2008.
Sivananthan confirmed that Rajendram posted bail yesterday.
No comments:
Post a Comment