Illegal remittance service provider receives RM200,000 fine (Updated)

JOHOR BARU: An illegal remittance service provider, Mohammad Teo Kai Seng Abdullah, was fined RM200,000 and jailed for a day by the sessions court here today, for operating a without licence.
He pleaded guilty to four charges under the Section 4(1) of the Money Services Business Act 2011 (MSBA).
The same charges against his wife Sartika, an Indonesian with Malaysian PR status, were withdrawn.
Teo is the owner of the illegal remittance company, Famirah Sukses Wisata, which has four branches in shopping complexes in Skudai, Senai, Pandan and Pasir Gudang.
He committed the offence between April 11 and 24 this year at the four branches. He pleaded guilty and asked for a lenient sentence.
Session court judge Jailani Abdul Rahman imposed a fine RM50,000, or 12 months jail on each charge.
Teo was also sentenced to a day in jail.
The court also ordered that RM139,000 cash seized from the company was to be confiscated.
Prosecution officers from Bank Negara Malaysia (BNM) spent about an hour submitting various pieces of evidence, including money, used receipts, transaction records, several computers, printing machines and outlet rental agreements.
The prosecuting officers from BNM were Wan Nur Atiqah Nur Mohd Zin and Hardeep Kaw, while the accused was unrepresented.