BANDAR SERI BEGAWAN

Friday, August 6, 2010

A Pan-Phoenix Dina director has pleaded guilty to illegal deposit taking, after he was arrested on Wednesday. Hasri Mohd Noor was brought to the High Court yesterday.

The charge reads that Pan-Phoenix Dina (B) Sdn Bhd, Hasri, Md Azlan and Hj Abdul Hamid from March 2007 to September 2007, were involved in receiving deposits from depositors amounting to $5.775 million without a licence to carry out banking activities.

The two other defendants, Md Azlan and Hj Abdul Hamid, had already pleaded guilty to the charge of illegal depositing before the High Court on July 20.

Each of the defendants are facing a jail term of up to 10 years and a maximum fine of $10 million. Syazwan Sadikin

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