Ex-company finance manager charged with laundering RM28 mln
SHAH ALAM: A former finance manager of a musical equipment company was charged in two Sessions Courts here yesterday with 22 counts of money laundering involving RM28 million.
Foo Yong Xian, 35, pleaded not guilty to all the charges which were read out separately before Judge Muhamad Anas Mahadzir and Judge Norazlin Othman.
In the case before Muhamad Anas, Foo was charged with 10 counts of receiving and disposing of RM9.6 million, believed to be proceeds from unlawful activities, while the remaining 12 charges, involving transferring and disposing of RM18.4 million, were before Norazalin.
He was alleged to have received the money through cheques and transferred it online from a bank account belonging to the company into his own personal account and several other company accounts.
The offences were allegedly committed at two bank branches in Bangsar and Bandar Puteri Puchong between February 2018 and December 2020.
The charges were framed under Section 4(1)(b) of the Anti-Money Laundering, AntiTerrorism Financing and Proceeds of Unlawful Activities Act 2001 and punishable under Section 4(1) of the same law, which provides imprisonment for up to 15 years and a fine of not less than five times the amount or value of proceeds from the unlawful activities or RM5 million, whichever is higher if found guilty.
Deputy public prosecutor Muhammad Zulfadli Mohd Nawawi prosecuted in both cases, while Foo was represented by lawyer Tuw Min Ric.
Foo was allowed bail of RM154,000 with two sureties for all the charges and was also ordered to report himself to the nearest police station once a month.
Following an application by the prosecution, Muhamad Anas ordered the case before him to be transferred and tried together with the cases before Norazlin on March 22.