Private university CFO charged with embezzling RM6.55 million

A 55-year-old chief financial officer (CFO) of a private higher education institution has been charged with criminal breach of trust concerning RM6.55 million. The accused, Noraini Aripin, pleaded not guilty to the charges at the Seremban Sessions Court.

The indictment alleges that Aripin was entrusted with RM6,557,720 belonging to the institution for the purpose of paying stamp duty to the Inland Revenue Board (LHDN). Instead, she is accused of dishonestly misappropriating these funds for other purposes, resulting in the stamp duty payments not being made.

The alleged offenses occurred between September 2025 and April 2026 at the institution's office in Bandar Enstek, Nilai. The prosecution proposed bail of RM100,000 with two Malaysian guarantors and additional conditions. However, the defense requested a lower bail amount of RM50,000, citing Aripin's marital status, five children, and ongoing treatment for stage-three breast cancer.

Defense counsel also noted that Aripin, who earns RM15,000 monthly as CFO, supports her family's living and educational expenses. The court ultimately granted bail at RM80,000, secured by two Malaysian guarantors, with further conditions including reporting to the Malaysian Anti-Corruption Commission (SPRM) office bi-monthly and surrendering her international passport. The case is set for its next mention on September 21.