SHAH ALAM: Businessman Nicky Liow Soon Hee pleaded not guilty to 26 counts of money laundering and possession of illegal money amounting to more than RM36 million from 2016 to last year at the Sessions Court in Shah Alam Tuesday.
Liow, 34, made the plea as soon as the charges were read by an interpreter before Judge Helina Sulaiman.
According to the first to 24th charges, the accused and three companies linked to him were charged with directly engaging in transactions from money laundering activities over RM33.7 million under paragraph 4 (1) (a) of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds from Unlawful Activities Act 2001 (AMLATFPUAA 2001) which are punishable under subsection 4 (1) of the same act.
On two more charges, he was accused of possessing receipts of money from the same activities involving more than RM2.29 million under paragraph 4(1) (b) of AMLATFPUAA 2001 which could be punished under subsection 4(1) of the same act.
All the offences were committed at two banks in Bandar Puteri Puchong and Ampang town from 2016 to 2021.
If convicted, the accused could be jailed a maximum of 15 years and fined not less than five times of the total amount or value of proceeds from the illegal activity or equipment of the offence, at the time the offence was committed or RM5 million, whichever is higher.
The prosecution was conducted by deputy public prosecutor Noor Zalizan Lazarous, Rozaliana Zakaria and Syafinas Shabudin while the accused was represented by Datuk Rajpal Singh, Jay Moy Wei Jiun and Mardhiyah Siraj.
Deputy Public Prosecutor Noor Zalizan earlier sought the court to impose bail at RM3.6 million in two sureties and the accused is to report himself to the Bukit Aman Commercial CID and hand over his passport to the court.
Counsel Rajpal agreed with the application of the prosecution but appeal for bail below RM1 million.
The court allowed bail at RM1 million to be paid in instalments today (Tuesday) and tomorrow with two guarantors and is to report to Bukit Aman Commercial CID twice a month and surrender his passport to the court. The case will be mentioned on May 26.
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