A businessman faces seven counts of receiving proceeds from unlawful activities totalling RM128.34 million, after pleading not guilty in the Sessions Court here today
KUALA LUMPUR: A businessman was charged in the Sessions Court here today with seven counts of receiving proceeds from unlawful activities amounting to RM128.34 million between 2012 and 2013.
P. Shailen, 58, pleaded not guilty to all the charges before Judge Awang Kerisnada Awang Mahmud.
For all seven charges, Shailen is accused of receiving funds totalling RM128,338,690.11, allegedly derived from illegal activities, from a bank account belonging to Paneagle Infratek Sdn Bhd into his Primawin Limited bank account.
The amounts involved in the respective charges were RM4,949,965.99, RM4,749,966.01, RM5,299,966, RM2,299,964.69, RM29,696,330.51, RM38,281,920.56 and RM43,060,576.35.
The offences were allegedly committed at a bank in Subang Jaya, Selangor, between July 11, 2012 and Nov 20, 2013.
He was charged under Section 4(1)(b) of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001, punishable under Section 4(1) of the same Act, which carries a fine of up to RM5 million, imprisonment of up to 15 years, or both, upon conviction.
The court allowed the RM100,000 bail previously granted by the Kuala Lumpur Sessions Court to be extended to the Shah Alam case, with additional conditions that Shailen report to the Malaysian Anti-Corruption Commission office once every two months, refrain from interfering with prosecution witnesses, and surrender his passport to the court.
Judge Awang Kerisnada also ordered the case to be transferred to the Kuala Lumpur Sessions Court, with June 11 fixed for mention.
Deputy Public Prosecutor Nurul Izzati Sapifee appeared for the prosecution, while lawyer Muhammad Hafizuddin Salehuddin represented Shailen.
Yesterday, Shailen pleaded not guilty in the Kuala Lumpur Sessions Court to a separate charge of abetting the use of a forged document in connection with a RM400 million loan application.
He was accused of abetting Ranjeet Singh Sidhu, 56, in using as genuine a document titled “Joint Completion Guarantee” between V Telecoms Berhad and Huawei Technologies Co. Ltd., dated June 21, 2012.
The document was allegedly used to fulfil approval requirements for an RM400 million bank loan to finance the development of a coastal fibre-optic network around Peninsular Malaysia, despite Shailen having reason to believe it was forged.
The alleged offence took place at a bank on Jalan Sultan Ismail, Kuala Lumpur, on June 29, 2012.
He was charged under Section 109 of the Penal Code, read together with Sections 471 and 465, which carries a maximum sentence of two years’ imprisonment, a fine, or both, upon conviction.
