Trader charged with laundering RM1.4mil

PETALING JAYA: A businessman was charged in the Sessions court here Thursday with 38 counts of money laundering, involving more than RM1.4 million, and conducting illegal money service business between 2012 and 2016.M. Meyyappan, 53, however, pleaded not guilty to all the charges before judge Norshila Kamaruddin.

On the first to the 35th count, Meyyappan was charged with receiving RM1,411,363.38 in proceeds from unlawful activities in his RHB Bank Berhad and Malayan Banking Berhad accounts.

He was charged with committing the offences at the Damansara Jaya and Damansara Utama branch of RHB Bank Berhad and Damansara Utama branch of Malayan Banking Berhad between May 22, 2012 and Aug 1, 2016.

The charges were framed under Section 4(1)(b) of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001,which provides an imprisonment for up to 15 years and fine of five times the amount obtained from unlawful activities, or RM5 million, whichever is higher, if found guilty.

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Deputy public prosecutor Nur Ashikin Mokhtar, who prosecuted, offered bail at RM300,000 in one surety, but lawyer Tan Sri Muhammad Shafee Abdullah, representing Meyyappan, asked the bail to be reduced to RM150,000 on grounds that the bank accounts of Meyyappan and his wife had been frozen.

The court then set bail at RM250,000 in one surety and also ordered Meyyapan to surrender his passport and report himself at the nearest police station every month.

Meyyappan was also charged under Section 7 of the Money Services Business Act 2011 with three counts of conducting money service business without a licence using his Malayan Banking Berhad and RHB Bank Berhad accounts.

The offences were allegedly committed at Malayan Banking Berhad, Jalan SS21/36 Damansara Utama and RHB Bank Berhad, Jalan SS 22/25 Damansara Jaya, here between June 10, 2015 and August 1, 2016.

Prosecuting officer from Bank Negara Malaysia (BNM) Steve Chin Yun Cheong suggested bail at RM150,000 on each with two sureties.

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However, the court set bail at RM50,000 in one surety for all charges, and also ordered Meyyapan to surrender his passport and report himself at the nearest police station once a month.

The court set May 11 for mention. – Bernama

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