The SC said Chin was charged with a total of 17 offences.
KUALA LUMPUR: The Securities Commission (SC) has charged Chin Wai Lan (Sophia Chin), director of Pixelvest Sdn Bhd, with money laundering offences involving more than RM164.5mil.
In a statement, the SC said Chin was charged with a total of 17 offences under section 4(1) (b) of the Anti-Money Laundering, Terrorism Financing and Proceeds of Unlawful Activities 2001 Act for receiving proceeds of unlawful activities.
According to the charges, Chin had received the illegal proceeds in her personal bank accounts as well as in several companies of which she is a director and or partner.
These companies included Pinetree Field Sdn Bhd, SC Wealth Planners Sdn Bhd, Quarters Venture Sdn Bhd, New Straits Venture Sdn Bhd and Quarters Capital PLT.
The regulator pointed out that the alleged offences took place between Dec 23, 2020 and Oct 2, 2022 in Kuala Lumpur and Selangor.
The accused claimed trial to all the 17 charges against her in two separate courts. Sessions Court Judge Datin Sabariah Othman granted bail at RM7mil with two sureties. She 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 Tuan Azrul Darus also granted Chin bail at RM7mil with one surety. He also imposed similar conditions on Chin.
If convicted, the accused would be liable to imprisonment for up to 15 years and also be liable to a fine of not less than five times the sum or value of the proceeds of the unlawful activities at the time the offence was committed or RM5mil, whichever is higher.
