BUTTER VALUE: A company executive pleaded not guilty to nine charges of money laundering related to RM1.2 million in 2020 in the Court of Sessions here today.
Choo Peng Hoong, 41, of Choo Marketing Sdn Bhd, is said to have transferred between RM20,000 and RM405,025, believed to be proceeds from illegal activities, from the company’s bank account to nine different bank accounts at a Maybank branch in Taman Inderawasih, Penang, as of March 11. until March 24, 2020.
The charges were formulated under Section 41(b) of the Anti-Money Laundering, Anti-Terrorism and Proceeds of Unlawful Activities Act 2001, which carries a penalty of up to 15 years imprisonment and a fine of not less than five times the amount or value of the proceeds from the illegal activity or 5 million RM, whichever is greater, if found guilty.
Judge Noor Aini Yusof allowed bail of RM54,000 with two bonds and ordered the defendant to report to the nearest police station once a month until the case was settled.
He was also asked to hand over his passport to the court. The court determined April 28 to be named.
Assistant Prosecutor Noor Zalizan Lazarous carried out the prosecution, while attorney Y. Anbananthan represented Choo. -Bernama
https://www.thesundaily.my/local/company-director-claims-trial-to-nine-money-laundering-charges-JF10734397 Company boss claims nine money laundering allegations