Three internet company directors charged with laundering over RM122m

06 Jun 2018 / 19:28 H.

KUALA LUMPUR: Three industrial internet company directors were charged at two Sessions Courts in Ampang here today with 11 counts of money laundering involving over RM122 million, seven years ago.
Teow Ee Meng, 27; Kau Fong Seng, 35; and Wong Weng Torng, 38, however, pleaded not guilty and claimed trial to all charges.
The charges against Teow and Kau were read before Judge Azrul Darus, while the charges against Wong were read before Judge Suzana Hussin.
The trio, as directors of MFace International Sdn Bhd, were charged with receiving money totalling RM122,883,092 allegedly from the illegal activity at Maybank in Pandan Indah here, between Nov 6, 2012, and May 1, 2017.
They were charged under Subsection 4(1)(b) of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001, which carries a maximum jail term of 15 years or fine of RM5 million or five times the amount of money involved, whichever is higher, if convicted.
Earlier, deputy public prosecutor Budiman Lufti Mohamed proposed bail of RM1 million each to the accused, but their lawyer M. Mahendran applied for lower bail as each of them had a family to support.
Teow and Kau were each allowed bail of RM600,000, while Wong RM500,000, with one surety.
They were also ordered to surrender their passports to the courts and to report themselves at nearest police station every month until the case was solved.
July 11 was set for remention. — Bernama

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