Latest news with #Anti-TerrorismFinancingandProceedsofUnlawfulActivitiesAct2001
New Straits Times
19 hours ago
- Business
- New Straits Times
RM4.3mil in Mayu Global's frozen bank accounts released, RM6.4mil still held
KUALA LUMPUR: Mayu Global Group Bhd has disclosed that RM4.3 million previously frozen in the bank accounts of its 80 per cent-owned subsidiary, Sunrise Manner Sdn Bhd, has been released by the Royal Malaysia Police (PDRM). This follows letters received from Bukit Aman notifying the cancellation of the freeze order, issued under the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001. In a filing with Bursa Malaysia, Mayu Global said the affected accounts were held at RHB Bank Bhd, Hong Leong Bank Bhd, Malayan Banking Bhd, Maybank Islamic Bhd and CIMB Bank Bhd. "Following the release of RM4.3 million from the above-mentioned bank accounts, the remaining amount still frozen by PDRM in the group's bank accounts stands at RM6.4 million," it said. This marks a partial easing of restrictions first disclosed in April, when the company revealed that bank accounts linked to Mayu Global and its subsidiaries had been frozen as part of an ongoing investigation involving one of its directors. The investigation also led to the seizure of company vehicles and changes in boardroom composition. The company said it would continue to monitor the matter closely. "The board of directors will continue to monitor the situation closely and will make further announcements as and when there are material developments," it said. In April, PDRM froze RM10.67 million across the bank accounts of Mayu Global and several subsidiaries under anti-money laundering laws. Mayu Global's executive director Tan Kim Hee was detained on April 2 to assist with the investigation and released on April 7 without any charges filed. The probe was reportedly linked to the long-running MBI pyramid scheme, with Tan identified as the brother-in-law of MBI founder Tedy Teow and a substantial shareholder of Mayu Global. The affected accounts included Sunrise Manner, Sungguh Gemilang Development Sdn Bhd, Progerex Sdn Bhd, SMPC Industries Sdn Bhd and others.
New Straits Times
2 days ago
- Business
- New Straits Times
DPA is not a 'get-out-of-jail-free card', says MACC chief
KUALA LUMPUR: A Deferred Prosecution Agreement (DPA) is not a get-out-of-jail-free card but an agreement where the prosecution may defer criminal charges under terms and conditions that must be complied with, the Malaysian Anti-Corruption Commission said. MACC chief commissioner Tan Sri Azam Baki said individuals under investigation will still face prosecution based on the offences already committed. "A DPA is not a shortcut or solution to avoid court charges. The aim is not to bypass justice, but to provide an alternative procedure. "If negotiations for a DPA fail, the legal entity will still be brought to court for the offences committed," he said. A DPA is an agreement between the prosecution and an organisation or company involved in major corruption offences. Under this agreement, prosecution may be deferred if the entity agrees to fulfil specific terms and conditions. Indirectly, a DPA enables the recovery of assets and funds more quickly, especially in large-scale cases involving significant sums, and avoids lengthy, complex trials that require substantial costs and resources. It is expected to strengthen the MACC Act 2009, which currently relies on Sections 40 and 41, or Sections 55 and 56 of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 (AMLATFAPUAA 2001). Berita Harian had reported that the proposal to introduce DPA into national enforcement legislation, particularly anti-corruption law, had received mixed reactions regarding its strengths and weaknesses. While some believe the DPA could expedite the recovery of stolen public funds, others were concerned it may become a 'get-out-of-jail-free card' for the wealthy and well-connected. Anti-corruption analyst and Universiti Kebangsaan Malaysia (UKM) law professor Prof Dr Salawati Mat Basir described the DPA as a suitable alternative for the swift recovery of misappropriated public funds. Senior lawyer and former deputy public prosecutor Fahmi Abd Moin supported the proposal to amend the MACC Act, saying it provides the commission with more options to reclaim funds lost to corruption or abuse of power by entities under investigation. However, senior lawyer Datuk Amer Hamzah Arshad voiced concern that the DPA could become a loophole for the elite and influential to escape criminal convictions, as it allows those involved to avoid publicly pleading guilty in court. Azam previously said the DPA would be introduced through amendments to the MACC Act 2009, expected to be tabled in Parliament by mid-next year. He said that under the DPA, the business entities involved would be required to fulfil several conditions, including returning misappropriated funds or assets, paying penalties or fines, and complying with conditions set by enforcement authorities and the Attorney-General's Chambers.
The Sun
7 days ago
- The Sun
Senior immigration officer faces new money laundering charge involving RM718,710
KUALA LUMPUR: A senior officer from the Johor Immigration Department, already facing money laundering charges, has been slapped with an additional count involving RM718,710. Nas Suffian Nasrun, 41, pleaded not guilty in the Sessions Court today. This latest charge follows his earlier indictment on July 22, where he faced five counts of money laundering involving RM933,295 in the Shah Alam Sessions Court. He denied all charges. The new case involves 64 online transactions between July 26, 2022, and June 9, 2023, where funds were allegedly transferred from an individual's bank account to a company's account at a Pandan Indah bank branch. The charge falls under Section 4(1)(a) of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001. If convicted, the offence carries a maximum 15-year jail term and a fine of at least five times the laundered amount or RM5 million, whichever is higher. Deputy public prosecutor Aznika Mohd Anas proposed bail at RM300,000 with one surety, along with conditions including passport surrender and monthly police reporting. She also requested the case be transferred to Shah Alam Sessions Court for joint trial with his other charges. Defence lawyer Muhammad Zaim Rosli argued for lower bail, citing Nas Suffian's clean disciplinary record, 19 years of civil service, and financial responsibilities supporting his wife and five children. Judge Rosli Ahmad set bail at RM100,000 with one surety, upheld the additional conditions, and approved the case transfer to Shah Alam. - Bernama
Barnama
7 days ago
- Barnama
Senior Immigration Officer Faces Additional Money Laundering Charge Involving RM718,710
KUALA LUMPUR, July 24 (Bernama) -- A senior officer with the Johor Immigration Department, who already faces money laundering charges, pleaded not guilty in the Sessions Court here today to another count involving RM718,710 between 2022 and 2023. On July 22, Nas Suffian Nasrun, 41, was charged with five counts of money laundering involving RM933,295 between 2022 and 2024 in the Shah Alam Sessions Court, to which he pleaded not guilty as well. In today's proceedings, he was accused of directly transferring funds from an individual's bank account to a company's account through 64 online transactions between July 26, 2022, and June 9, 2023, at a bank branch in Pandan Indah. He was charged under Section 4(1)(a) of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 (Act 613). The offence carries a maximum sentence of 15 years' imprisonment and a fine of not less than five times the amount of the proceeds or the value of the illicit activity, or RM5 million, whichever is higher, upon conviction. Malaysian Anti-Corruption Commission (MACC) deputy public prosecutor Aznika Mohd Anas proposed bail at RM300,000 with one surety. She informed the court of the additional conditions of surrendering his passport and monthly reporting to the nearest police station imposed by the Shah Alam Sessions Court. 'As such, we request this court to adopt the same additional conditions,' Aznika submitted. She further applied for the case to be transferred to the Shah Alam Sessions Court to be jointly tried with the five other charges faced by the accused.
The Star
23-07-2025
- Business
- The Star
AGC objects to Ilham Tower's bid for judicial review of property seizure
KUALA LUMPUR: The Attorney General's Chambers (AGC) has objected to Ilham Tower Sdn Bhd's application for leave to initiate a judicial review against the Malaysian Anti-Corruption Commission (MACC) over the seizure of Menara Ilham. Senior Federal Counsel Nurhafizza Azizan informed the High Court of the objection during Wednesday's (July 23) proceedings before Justice Datuk Amarjeet Singh. The court directed both parties to file written submissions by Aug 13, with any replies to be submitted by Aug 20. The hearing is set for Sept 18. Ilham Tower was represented by counsel Datuk Dr Gurdial Singh Nijar. It filed the ex-parte application through Messrs Raj & Sach on June 23. Toh Puan Na'imah Abdul Khalid, widow of former finance minister Tun Daim Zainuddin, is listed as one of the company's directors. ALSO READ: Mention of MACC's Ilham Tower forfeiture application set for Aug 6 The other respondents named were MACC chief commissioner Tan Sri Azam Baki; senior officer Mohd Razi Rahhim @ Rahim; deputy public prosecutor Datuk Ahmad Akram Gharib; the Public Prosecutor; Prime Minister Datuk Seri Anwar Ibrahim; and the government. The company is seeking a declaration that the seizure order or notice issued by the second respondent (Ahmad Akram), on June 4 under Section 51(1) of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001, in relation to the seizure of Menara Ilham at Jalan Binjai, is unlawful and therefore null and void. ALSO READ: MACC seizes Ilham Tower again It is also seeking a certiorari order to quash the seizure notice along with all related decisions or actions. In addition, a mandamus order is sought to compel the second respondent, or any officer, employee, agent, or person authorised by him, to cancel the said notice. The applicant further seeks a court order to stay the enforcement of the seizure notice and all related decisions or actions pending disposal of the judicial review leave application, as well as damages and costs. – Bernama
