3 FACE MONEY LAUNDERING CHARGES
Company directors allegedly received RM122m from illegal activity
THREE industrial Internet company directors were charged at two Sessions Courts in Ampang here yesterday with 11 counts of money laundering involving more than RM122 million, seven years ago.
Teow Ee Meng, 27, Kau Fong Seng, 35, and Wong Weng Torng, 38, claimed trial to all charges.
The charges against Teow and Kau were read before judge Azrul Darus, while the charges against Wong were read before judge Suzana Hussin.
The trio, as directors of MFace International Sdn Bhd, were charged with receiving money totalling RM122,883,092, allegedly from the illegal activity at Maybank in Pandan Indah here, between Nov 6, 2012, and May 1, last year.
They were charged under subsection 4(1)(b) of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001, which carries a maximum jail term of 15 years, or fine of RM5 million, or five times the amount of money involved, whichever is higher, if convicted.
Earlier, deputy public prosecutor Budiman Lufti Mohamed proposed bail of RM1 million for each accused.
But their lawyer M. Mahendran applied for lower bail as each of them had a family to support.
Teow and Kau were each allowed bail of RM600,000, and Wong RM500,000, with one surety.
They were ordered to surrender their passports to the courts and to report to the nearest police station every month until the case was solved.
July 11 was set for re-mention.