KUALA LUMPUR: The Securities Commission Malaysia (SC) has charged Pixelvest Sdn Bhd director Sophia Chin Wai Lan with money laundering offences involving more than RM164.5mil.
The SC said Chin was charged with a total of 17 offences under Section 4(1)(b) of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 for receiving proceeds of unlawful activities.
According to the charges, Chin received the illegal proceeds in her personal bank accounts as well as in several companies of which she is a director/partner.
The companies include Pinetree Field Sdn Bhd, SC Wealth Planners Sdn Bhd, Quarters Venture Sdn Bhd, New Straits Venture Sdn Bhd and Quarters Capital PLT.
The SC said the offences were allegedly committed between Dec 23, 2020 and Oct 2, 2022 in Kuala Lumpur and Selangor.
"The accused claimed trial to all the 17 charges preferred 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," the SC said.
In a separate court, the SC said, Sessions Court Judge Tuan Azrul Darus also granted Chin bail at RM7mil with one surety as well as imposed similar conditions on the passport surrender and reporting to SC.
"If convicted, the accused shall be liable to imprisonment for up to 15 years and shall 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," it said.
It added that the charges against Chin are a continuation of the SC's enforcement action relating to the same matter against two other individuals on Wednesday (Jan 10) where Dexter Ang Jen Chuen and Syaiful Riezal Ahmad were charged for similar offences. – Bernama
