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Thursday June 12, 2014 MYT 12:00:00 AM
Thursday June 12, 2014 MYT 7:06:24 AM
KUALA LUMPUR: A former company director has been sentenced to almost 2,000 years’ jail and fined RM1.596mil by the Sessions Court here for 472 counts of money laundering and nine counts of illegal deposit-taking involving millions of ringgit four years ago.
Another former director charged in the same case was sentenced to a total of 139 years’ jail and fined RM180,000 for nine counts of illegal deposit-taking and 130 counts of money laundering. Also implicated was the company, Asia Ceramic Marketing Sdn Bhd, which was fined RM180,000 for nine counts of illegal deposit-taking.
Lim Long Yew, 43, who was sentenced to 1,942 years’ jail, was charged in 2010 with transferring illegal proceeds from his personal account to the company’s bank accounts and accepting ill-gotten money into the company’s accounts at various locations between June 19, 2008 and Oct 19, 2009.
The charges against the other accused, Leong Guan Yeu, 47, was for accepting, transferring and holding illegal proceeds in the company’s accounts between July 18, 2008 and Oct 19, 2009.
Judge Datuk Jagjit Singh Bant Singh found them guilty of all 627 charges. He sentenced Lim to six years’ jail and RM20,000 fine, in-default two month’s jail, for each of the nine counts of illegal deposit-taking and four years’ jail and fine of RM3,000, in default one month’s jail, for each of the 472 counts of money laundering. He ordered all the sentences to be served concurrently from today. In total Lim would only have to serve 10 years jail.
As for Leong, he was sentenced to one year jail and fined RM20,000, in default two months’ jail, on each count of the nine illegal deposit-taking charges and one year jail on each of the 130 counts of money laundering. The concurrent jail sentence from today will see him serving only two years jail.
Jagjit Singh granted an application by both the accused for a stay of execution pending appeal and increased Lim’s bail from RM200,000 to RM1 million. He ordered Leong, represented by counsel Haresh Mahadevan, to pay his fine in two installments.
“The first RM90,000 is to be paid today and another RM90,000 is to be paid before Aug 11 this year,” said the judge.
Meanwhile, Lim’s counsel, Hariharan Tara Singh, asked that his client be imposed jail sentence only as he could not pay the fine.
Deputy public prosecutors Mohd Shukri Ahmad Mansor and Akmalzatul Mohd Nawi prosecuted. — Bernama.
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Courts Crime, money laundering, Lim Long Yew
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