RM30 million bank fraud

2018 closed with a bang, albeit not a very good bang. The decision of the RM30 million bank fraud case was finally delivered at 3.00 on 31/12/2018. 

The case was filed by Malayan Banking Berhad and Maybank Islamic Bank Berhad in 2015 and an interim Mareva Injunction was taken on the day the suit was filed. This was followed by 3 years of case managements and interlocutory applications.

The trial took 16 days before Her Ladyship Dato Rosnaini binti Saub and 7 witnesses were called by parties (4 by the Plaintiffs and 3 by the Defendants). Before Her Ladyship took over, certain interlocutory applications were made before 2 other Judges. Hence a total of 3 judges were involved.

Initially The Law Office of Mohd Harris acted for all 26 Defendants and Zaid Ibrahim & Co acted for both the Plaintiffs. Subsequently, the Plaintiffs changed to Ariff Rozhan & Co and 6 of the Defendants shifted to Tengku Amalin & Faizi while 1 to YS Ling & Co. Hence, a total of 5 legal firms were involved from inception till the decision.

The Plaintiffs were at all times represented by 5 counsels with me, Faizi and YS Ling for the Defendants. 

The decision - Plaintiffs' claim allowed with costs of RM50,000-00 and each Defendant to pay punitive damages in the sum of  RM25,000-00.