Illegal money transfers: Three charged

> Directors face a total of 50 offences involving RM7.8m

JOHOR BARU: Three company directors were charged separately in the sessions court yesterday for operating an illegal money remittance service involving an estimated RM7.8 million between 2011 and September 2015.

The three accused were charged in three separate courts with a total of 50 offences.

They were allegedly providing illegal money remittance services to countries such as Indonesia, China and Thailand.

All the accused pleaded not guilty after the 50 charges were read out to them before judges Mohammad Khalid Ab Karim, Kamarudin Kamsun and Mohd Fauzi Mohd Nasir.

The first accused Abdul Razak Suib, 58, director of Eastern Global Capital Sdn Bhd, faces 40 charges under Section 4(1)(b) of the AntiMoney Laundering, AntiTerrorism Financing and Proceeds of Unlawful Activities Act 2001 (money laundering activities).

The offences were allegedly committed at its Johor Baru office between Nov 9, 2011 and Jan 2, 2013, amounting to RM4.5 million. If convicted, he is liable to a fine of up to RM5 million or five years’ imprisonment or both.

The accused, who was unrepresented, was granted bail of RM430,000.

Wong Chin Sheng, 42, director of South Eminent Resources, faces four charges of money laundering amounting to RM2.7 million.

He is alleged to have committed the offences between Dec 16, 2013 and Sept 10, 2015.

Wong, who was represented by counsel Mohammad Fahmi A. Jalil, was granted RM110,000 bail.

Chang Wan Ning, 27, director of Vintage Instinct Sdn Bhd, faces six counts of money laundering amounting to RM622,798.

She is alleged to have committed the offences between Nov 9, 2011 and Jan 2, 2013.

Chan, who was represented by defence counsels Lau Kok Guan and Irwin Ng, was granted bail of RM60,000.

They were also charged separately with conducting a money service business without a licence, an offence under Section 4(4) of the Money Services Business Act 2011 (Act 731), for which they can face a fine of up to RM5 million or 10 years’ imprisonment or both upon conviction.

The three of them were ordered to surrender their passports to the court and report to the nearest police station every month pending the completion of the cases against them.

The cases against them will be mentioned on Sept 14.