Latest news with #Anti-MoneyLaundering
The Star
3 days ago
- The Star
Project lead pleads not guilty to 68 charges of money laundering
In the dock: Vikram being escorted to the Shah Alam Sessions Court for the money laundering trial. — KK SHAM/The Star SHAH ALAM: It took a whole hour for 68 charges of money laundering against a part-time project manager to be read out in court. The accused, R. Vikram Menon, 46, claimed trial for allegedly laundering RM688,916.85 by transferring and disposing the monies between Oct 17, 2023, and Oct 15, 2024. He pleaded not guilty to all charges. He had allegedly carried out the activities around Bandar Sri Damansara through 301 transactions for fund transfers to 67 bank accounts as well as 159 online and cash disposal transactions, ranging from RM1,000 to RM90,463.33. The charges were framed under Section 4(1)(b) of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 against Vikram before Sessions Court judge Awang Kerisnada Awang Mahmud yesterday. The offence, which is punishable under Subsection 4(1) of the same Act, carries a jail term of up to 15 years and a fine of at least five times the amount involved or RM5mil, whichever is higher, if found guilty. Awang Kerisnada set bail at RM70,000 with one surety and ordered Vikram to surrender his passport to the court, refrain from making contact with any of the prosecution witnesses as well as report to the Sungai Buloh district police headquarters every month. Earlier, deputy public prosecutor Wan Nur Amanina Wan Din asked the court to set bail at RM80,000 but lawyer S. Kulasegaran sought for the amount to be reduced to RM30,000, stating that bail was to ensure court attendance and not act as punishment.
The Star
21-06-2025
- Politics
- The Star
‘DNAA for Najib is appropriate'
KUALA LUMPUR: Former prime minister Datuk Seri Najib Razak has been discharged without being acquitted (DNAA) of three counts of money laundering involving RM27mil linked to SRC International Sdn Bhd. High Court judge Justice K. Muniandy ruled that the order was necessary as the prosecution failed to show that they can proceed with the trial anytime soon. He said documents necessary to support the charges have yet to be procured, gathered and served on the defence. In his ruling, the judge said the trial was stalled with no clear indication when it would begin. The trial dates had been postponed for a myriad of reasons, including making time for the prosecution to procure and gather documentary proof in the case and making way for the RM42mil SRC International graft trial, the case that Najib is convicted of. 'This case against the accused has been pending in this court for a period of six years since 2019 and not an iota of witness testimony has been pursued with only a plethora of postponements indicating that the prosecution is not ready with the prosecution of the case,' Justice Muniandy added. He said once an accused person was charged in court, the charge could not be hanging over his head for an indeterminate or indefinite period. 'That would be harsh and illegal,' the judge added. Justice Muniandy also said that a DNAA order would not prejudice the prosecution's case as the prosecution could still pursue the case once it is ready to do so. 'By virtue of those factors, the most appropriate order is for this court to discharge the accused person without acquitting him, so that he is not saddled with the charges preferred against him,' he added. On Feb 3, 2019, Najib claimed trial to three charges of money laundering by accepting RM27mil from unlawful activities through three AmPrivate Banking accounts at AmIslamic Bank Bhd, Jalan Raja Chulan, on July 8, 2014. He was charged under Section 4(1)(a) of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001. If convicted, he faces a maximum fine of RM5mil or imprisonment of up to five years, or both.
