KUALA LUMPUR: A former company director pleaded not guilty in the Sessions Court here today to eight charges of receiving proceeds from unlawful activities amounting to over RM116 million.
On the four chargers, Ang Jen Chuen, 33, as the Pixelvest Sdn Bhd director (at that time) was charged with receiving proceeds from unlawful activities which were deposited into three bank accounts belonging to his company, amounting to RM116,430,812.43.
The offences were allegedly committed at the CIMB Berhad in Kota Damansara, Affin Hwang Investment Bank Berhad Cawangan Taman Midah, Cheras and AmInvestment Bank Berhad at Jalan Raja Chulan, between Dec 1, 2020 and July 7, 2022.
The charges are framed under Section 4(1)(b) of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 (Act 613), which is punishable under Section 4(1) of the same law.
If convicted, the law provides imprisonment for up to 15 years and a fine of not less than five times the amount or value of the proceeds of the illegal activity or RM5mil, whichever is higher.
For four other charges, Ang was alleged to have received RM553,749.18 in proceeds from unlawful activities which was deposited into HSBC and Hong Leong bank accounts in Kota Damansara and Petaling Jaya, respectively between Dec 30, 2020 and Jan 9, 2023.
Deputy Public Prosecutor from the Securities Commission (SC) Low Wen Zhe prosecuted while lawyer Farhan Read represented the accused.
Judge Azrul Darus set bail at RM8.01 million for all charges with two sureties and also ordered the accused to surrender his passport to the court as well as report himself at the SC office every month.
In the same court, former chief executive officer (CEO) of an investment company Syaiful Riezal Ahmad claimed trial to three charges of receiving proceeds from illegal activities involving over RM2 million at a bank branch in Bukit Damansara and CGS-CIMB Securities Sdn Bhd, Petaling Jaya, between Feb 22, 2021, and June 24, 2022.
For all three charges, Syaiful Riezal, 51, as the guardian of Infinity Trustee Berhad (at that time) was accused of receiving funds totaling RM2,184,956.86, derived from illegal activities, into the company’s current account at Public Bank and trading account.
Judge Azrul Darus set bail at RM100,000 with one surety and also ordered the accused to surrender his passport to the court as well as report himself at the SC office every month. –Bernama
