Islamic finance expert Tan Sri Dr Mohd Daud Bakar has been charged again, this time for allegedly embezzling over RM10 million together with company director Datuk Norliza Tajudin. Both face seven counts of criminal breach of trust under Section 409 of the Penal Code, including allegations involving RM2 million belonging to former deputy minister Datuk Dr Mashitah Ibrahim.
The charges relate to their roles as directors and shareholders of Energy Eco Bhd, where they are accused of misusing investor funds that were meant exclusively for expanding glove manufacturing capacity in compliance with shariah principles. The alleged offences occurred between June 2021 and May 2024 and also involved funds from Koperasi Perumahan Sentul, Myad Capital Sdn Bhd, and Moideen Kunjayu.
Both Daud and Norliza pleaded not guilty before Sessions Court judge Suzana Hussin. If convicted, they face prison terms of two to 20 years, whipping, and fines for each charge. Bail was set at RM100,000 with one surety each, along with conditions requiring them to report to the Malaysian Anti-Corruption Commission and avoid contact with witnesses. The case is scheduled for mention on June 19.
Daud, formerly chairman of the shariah advisory councils for Bank Negara Malaysia and the Securities Commission, had already been charged earlier in February for conspiring with AUF MBZ Consortium PLT and others to trade securities without a Capital Market Services License. He is represented by Datuk Hamidi Md Noh, while Norliza is represented by Zahida Md Zaman.
