Company director charged with 17 counts of money-laundering involving over RM160m

KUALA LUMPUR: A company director facing 17 counts of money-laundering charges at two Sessions Courts here today, pleaded not guilty to receiving more than RM160 million from unlawful activities.

Chin Wai Lan, 50, (she) pleaded not guilty to all the charges when read out separately in front of judges Datin Sabariah Othman and Azrul Darus.

According to the charges, Chin is accused of receiving RM164,587,103 which were proceeds from unlawful activities into her personal bank accounts as well as several companies of which she is a director and partner - SC Wealth Planner Sdn Bhd, New Straits Ventures Sdn Bhd, Pinetree Field Sdn Bhd, Pixelvest Sdn Bhd, Quarters Venture Sdn Bhd and Quarters Capital PLT.

She was accused of committing the offences at United Overseas Bank (Malaysia) Berhad and Affin Hwang Investment Bank Berhad (Cheras branch) as well as Public Bank Berhad (Changkat Thambi Dollah branch) between Dec 23, 2020 and Dec 21, 2022.

The charges were framed under Section 4(1)(b) of the Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 read together with subsection 87 (1) and punishable under Section 4 (1) of the same act.

Offenders can be jailed up to 15 years and fined not less than five times the amount or value of proceeds of illegal activities or RM5mil, whichever is higher.

Judge Sabariah granted bail at RM7 million with two sureties and was ordered to surrender her passport to the court and to report to the SC on a monthly basis until the completion of the trial.

In a separate court, Sessions Court Judge Azrul also granted Chin bail at RM7 million with one surety and also imposed similar conditions on the passport surrender and reporting to SC. -Bernama