Four directors face a total of 322 counts of financial offences for alleged illegal deposit-taking activities and money laundering.
IPOH: Four directors of Bestino Golden House Sdn Bhd were charged in the Session Court here today with committing a total of 322 counts of financial offences involving RM156 million.
The four accused are Chong Kuei Geh, 57, who faces 114 charges, Chong Yuk Ming, 49, (52 charges), Goon Koon Lee, 48, (102) and Ho Chee Cheong, 41, (54).
They, however, pleaded not guilty when the charges were read out to them before judge Julie Lack Abdullah.
The accused are alleged to have committed the offences between July 9, 2006 and Sept 21, 2008.
They were charged under Banking and Financial Institutions Act 1989 for illegal deposit-taking and the Anti-Money Laundering and Prevention of Terrorism Act 2001.
Under the first Act, they can face a maximum fine of RM10 million or up to 10 years jail or both while under the second Act, a maximum fine of RM5 million or up to five years jail or both can be imposed, if convicted.
All the proceeds from the illegal-deposit scheme are believed to have been used to buy properties, assets and other commodities.
All the accused are represented by Rajivan Nambiar.
Bank Negara Malaysia was represented by prosecuting officers Alwin Ong Heng Kiat and Mohd Syahkirin Mampot for the illegal deposit-taking charges while Deputy Public Prosecutor Mohammad Fauzi Md Yusof for the money-laundering charges.
Ong asked the court to impose a RM5 million bail each on the four accused, arguing that the deposit collected illegally was massive. He also asked the judge to impound their international passports.
However, Rajivan said that the personal account of the directors amounting to RM1 million in cash and company assets of RM20 million have already been frozen by Bank Negara.
He pleaded for the bail to be reduced to RM100,000 or RM200,000 as the accused had cooperated with Bank Negara in its investigation of the company for the past three years.
Julie set bail at RM1.5 million in two sureties for each of the accused and also ordered them to surrender their passports to the court.
She then set April 11 for re-mention to decide whether all the cases should be heard jointly.
Later, Rajivan said that he would apply to the court to seek a revision of the bail tomorrow.
At press time, the four accused had not posted bail.
IPOH: Four directors of Bestino Golden House Sdn Bhd were charged in the Session Court here today with committing a total of 322 counts of financial offences involving RM156 million.The four accused are Chong Kuei Geh, 57, who faces 114 charges, Chong Yuk Ming, 49, (52 charges), Goon Koon Lee, 48, (102) and Ho Chee Cheong, 41, (54).
They, however, pleaded not guilty when the charges were read out to them before judge Julie Lack Abdullah.
The accused are alleged to have committed the offences between July 9, 2006 and Sept 21, 2008.
They were charged under Banking and Financial Institutions Act 1989 for illegal deposit-taking and the Anti-Money Laundering and Prevention of Terrorism Act 2001.
Under the first Act, they can face a maximum fine of RM10 million or up to 10 years jail or both while under the second Act, a maximum fine of RM5 million or up to five years jail or both can be imposed, if convicted.
All the proceeds from the illegal-deposit scheme are believed to have been used to buy properties, assets and other commodities.
All the accused are represented by Rajivan Nambiar.
Bank Negara Malaysia was represented by prosecuting officers Alwin Ong Heng Kiat and Mohd Syahkirin Mampot for the illegal deposit-taking charges while Deputy Public Prosecutor Mohammad Fauzi Md Yusof for the money-laundering charges.
Ong asked the court to impose a RM5 million bail each on the four accused, arguing that the deposit collected illegally was massive. He also asked the judge to impound their international passports.
However, Rajivan said that the personal account of the directors amounting to RM1 million in cash and company assets of RM20 million have already been frozen by Bank Negara.
He pleaded for the bail to be reduced to RM100,000 or RM200,000 as the accused had cooperated with Bank Negara in its investigation of the company for the past three years.
Julie set bail at RM1.5 million in two sureties for each of the accused and also ordered them to surrender their passports to the court.
She then set April 11 for re-mention to decide whether all the cases should be heard jointly.
Later, Rajivan said that he would apply to the court to seek a revision of the bail tomorrow.
At press time, the four accused had not posted bail.
No comments:
Post a Comment