Company director pleads not guilty to RM37.1mil CBT charge

A businessman with a “Datuk Seri” title pleaded not guilty in the Kuala Lumpur sessions court today to criminal breach of trust involving RM37.1 million in company funds in 2022.

Zul Azmi Abu Hussin, 51, entered the plea before judge Kafli Che Ali, Berita Harian reported.

Zul Azmi was charged in his capacity as a director of Xspec Resources Sdn Bhd with committing CBT involving RM37,099,999.67 belonging to the company at a bank at Taman Tunku in Bukit Tunku, Kuala Lumpur, on Feb 15, 2022.

The charge was framed under Section 409 of the Penal Code, which carries a jail term of between two and 20 years, whipping and a fine, upon conviction.

Earlier, deputy public prosecutor Siti Suriatey Mohamed Yusoff proposed bail of RM500,000 with one surety and for Zul Azmi’s passport to be surrendered to the court until the case was concluded.

However, defence lawyer Edly Firdaus asked for the bail to be reduced to RM50,000, saying Zul Azmi has to support his wife, five children and parents, and suffered from high cholesterol and high blood pressure.

The court granted bail of RM100,000 with one surety, along with additional conditions sought by the prosecution, and fixed Oct 5 for mention.