KUALA LUMPUR: The Sessions Court here fixed May 21 to decide whether to
release the assets of a gold investment company, Genneva Sdn Bhd, to its
three directors and one former director who were acquitted yesterday of
illegal money laundering and illegal deposit-taking.
Source from (Bernama): http://www.bernama.com/bernama/v7/ge/newsgeneral.php?id=950534
Published: May 19, 2013
Bank Negara Malaysia (BNM) had frozen the assets totalling more than
RM100 million under the Banking and Financial Institution Act following
their indictment for 224 charges of illegal money laundering and five
charges of receiving deposits without a licence.
Judge Datuk
Rozana Ali Yusuff set the date following an application by Bank Negara
Deputy Public Prosecutor Mardziatun Nisa Ahamadul Kabir to suspend the
release of the assets pending disposal of the prosecution’s appeal filed
this morning (yesterday) against the acquittal.
Mardziatun said
should the High Court allow the appeal, there would then be no guarantee
that the investors would get their money back.
“The appeal will
become academic if the suspension is rejected,” she said, submitting
further that the application was to protect the interest of the
investors involved.
However, Counsel Mohamed Haniff Khatri Abdulla
who represented the three directors, Ng Poh Weng, 63, Marcus Yee Yuen
Seng, 61, and Chin Wai Leong, 37, submitted that there were two sets of
accounts in the case.
One was the directors’ accounts, of which
there was no evidence that they contained investors’ money, and the
company’s account which justifiably showed the amount to be
business-derived earnings.
Ng was charged with 93 counts, Yee, 40
counts, Chin, 61 counts, and former Genneva Sdn Bhd director Liew Chee
Wah, 30 counts of illegal money laundering.
They are alleged to
have committed the offences at Public Bank Berhad, Kuala Lumpur branch,
Menara Public Bank, 146, Jalan Ampang between July 2008 and June 2009.
They
were also charged with five counts of illegally receiving deposits from
the public, allegedly committed in Jalan Kuchai Maju 6, off Jalan
Kuchai Lama between November 2008 and July 2009.
Liew, 59, was represented by Counsel Keppy Wong. — Bernama
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