KUALA LUMPUR, (Oct 1 ) — The High Court here today fixed Dec 12 to hear the Bank Negara’s appeal over the acquittal of former Sime Bank chief executive officer Datuk Ismail Zakaria for acting beyond his authority in approving credit facilities, totalling RM175 million, to an investment company.
High Court judge Datuk Kamaruddin Hashim set the date when the case came up for mention Wednesday.
This followed the Sept 25 decision of the High Court in allowing an appeal by the prosecution to reinstate the case after the court agreed with the prosecution contention that there was genuine mistake on their part for failing to show up at the court during the first stage of appeal.
Ismail, 71, who led the Sime Bank during one of the worst financial crisis in 1997 was not in court.
His counsel, Kitson Foong, informed the court that his client was ill.
The prosecution was led by commercial unit head of the Attorney-General Chambers, Syed Faisal Syed Amir.
On June 6 this year, the High Court dismissed the prosecution’s first attempt to reinstate the case after ruling that the failure to diarise a hearing date was not an excuse that could be tolerated by the court.
On May 26, the court had allowed Ismail’s application to strike out Bank Negara’s appeal against his acquittal due to failure of the respondent to be in the court on that day.
Ismail was acquitted and discharged by the Sessions Court on Sept 12, 2011, on four charges of acting beyond his authority to approve credit facilities, totalling RM175 million, to Everise Capital Sdn Bhd.
He was accused of committing the offences between Sept 20, 1997, and Oct 21, 1997, in his office on the second floor of Sime Bank Building in Jalan Sultan Ismail here.
The charges, under Section 65(1) of the Banking and Financial Institutions Act (Bafia) 1989 and punishable under Section 103(1)(a) of the same Act, provide for jail terms of up to five years or a maximum fine of RM5 million, or both.—BERNAMA