Malaysian Indian Youth Council president Reghu Devan Lopez was granted bail on Thursday in Penang state in a case pertaining to insurance fraud charges.
Lopez, 36, a former insurance agent, was charged with cheating the insurance company, American International Assurance (AIA) between January 2009 and March 2010, The Malaysian Star reported.
He used 14 cheques totalling 907,000 Malaysian Ringgit -- around $242,000 -- as premium paid by one of his clients for insurance policies under the name of 46 fictional individuals.
As a consequence, he received a commission of 253,830 Malaysian Ringgit ($67,880) from AIA.
The Malaysian Indian Youth Council, set up in 1991, is the largest Indian youth-based organisation in Malaysia with over 300 branches across the country.
Lopez has been president of MIYC since 2012.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app