Prominent Businessman Pleads Not Guilty To Cheating Charges Involving RM10 Million Police Account Unfreezing Scheme

KUALA LUMPUR, Oct 21 – Prominent businessman Tan Sri Tan Kean Soon was charged at the Kuala Lumpur Sessions Court on Wednesday, October 21, 2026, with four counts of cheating another businessman involving over RM10 million in cash and foreign currency.

Tan, 63, pleaded not guilty to all four charges after they were read out before Judge Azrul Darus.

According to the charge sheets, Tan allegedly cheated businessman Datuk Seri Keh Chuan Seng, 55, by falsely claiming he could assist in resolving the freezing of Keh’s personal and corporate bank accounts by police, as well as an ongoing police investigation into Keh under the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 (AMLA).

The deception allegedly induced Keh to hand over sum payments totaling RM2 million, RM3 million, SGD1.5 million, and RM500,000 to Tan through intermediary Datuk Seri Chiau Beng Teik.

The alleged offences occurred across multiple locations in Kuala Lumpur—including a car park in Kuchai Lama, Dataran Maybank in Bangsar, the Pavilion Hotel, and Kampung Pandan—between March 23 and March 25, 2025.

Bail Terms and Legal Arguments

Key legal details, statutory provisions, and bail conditions set during court proceedings include:

• Penal Code Section 420: The charges were framed under Section 420 of the Penal Code for cheating and dishonestly inducing delivery of property, which carries a mandatory prison sentence of between one and 10 years, whipping, and a fine upon conviction.
• Prosecution Submissions: Deputy Public Prosecutor Norfauzani Mohd Nordin initially urged the court to withhold bail given the non-bailable nature of the offence and the sum exceeding RM10 million, proposing a RM2 million bail figure if granted.
• Defense Mitigation: Defense counsel Datuk Hisyam Teh Poh Teik requested bail of RM1 million, noting that Tan is a cooperate-compliant businessman who requires regular travel to Singapore for medical treatment.
• Court Order & Mention Date: Judge Azrul fixed bail at RM1 million with one surety, ordering Tan to formally notify the court and prosecution prior to any overseas travel. The court set January 11, 2027, for case mention.

–NMT