PETALING JAYA, Abu Sahid Mohamed, the executive chairman of Maju Holdings Sdn Bhd, has been slapped with 17 charges involving both criminal breach of trust (CBT) and money laundering, linked to the troubled Maju Expressway Extension (MEX II) project.
The 74-year-old businessman, who arrived in a wheelchair, was brought before Kuala Lumpur Sessions Court judge Suzana Hussin, where he claimed trial to four CBT charges involving more than RM313 million in company funds as well as 13 money laundering charges amounting to RM139 million.
Abu Sahid Mohamed claimed trial to four charges of CBT and 13 of money laundering.
According to the charge sheet, Abu Sahid is accused of committing the CBT offences between 2016 and 2019, when he allegedly misused Maju Holdings’ funds entrusted to him for corporate purposes. The offences fall under Section 409 of the Penal Code, which carries a sentence of two to 20 years in prison, whipping, and a fine upon conviction.
In addition, prosecutors alleged that Abu Sahid engaged in money laundering activities during the same period, channeling over RM139 million in illicit proceeds into various personal and company accounts. These offences were framed under Section 4(1)(b) of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 (AMLA). If found guilty, he faces up to 15 years in prison and a fine of at least RM5 million for each count.
Deputy public prosecutor Ahmad Akram Gharib requested bail of RM1.5 million and the surrender of Abu Sahid’s passport, stressing the seriousness of the charges and the large sums of money involved.
Defence counsel Hisyam Teh Poh Teik, who represented Abu Sahid, did not object to the bail amount and conditions. Judge Suzana then fixed bail at RM1.5 million with additional conditions, and set Nov 3 for case mention.
The MEX II project, a proposed extension of the Maju Expressway to connect Putrajaya and Cyberjaya, has long been mired in controversy due to financing issues and stalled construction, and this latest development casts further scrutiny on Maju Holdings’ management of funds.
