IT boss claims trial to receiving RM5 million deposit without a licence

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Hariharan Subramaniam covers his head with his coat as he is led out of the courtroom in George Town, Penang.GEORGE TOWN: A businessman was charged here today with violating finance laws by accepting a deposit of almost RM5 million in investments without a licence from the authorities. Hariharan Subramaniam, 42, from Klang, Selangor was charged with committing the offence at the Maybank Union Street branch here from March 25, 2016, to March 1, 2018. He was charged under Section 137 of the Financial Services Act 2013 with accepting the deposit in the form of a loan, advance, investment, savings and proceeds without a licence from the finance ministry. He claimed trial to the charge which carries a maximum jail term of 10 years and/or a maximum fine of RM50 million upon conviction. Deputy public prosecutor Preeya Darrsini Sugumaran asked for bail to be set at RM100,000 and his passp…