Man claims trial to money laundering

SEREMBAN: A 63-year-old man claimed trial to 21 charges of money laundering involving RM2.7mil at the Sessions Court here.

Lai Ching Wai, a former plumbing contractor, pleaded not guilty to the charges after they were read to him in Mandarin before judge Diana Md Razali.

He was charged with abetting the commissioning of the act by using his bank accounts to keep proceeds believed to be from illegal activities as well as for transferring these proceeds into the bank account of another party.

Lai allegedly committed the offences between Aug 21, 2015 and Nov 11, 2020.

He was charged under Section 4(1)(b) of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act, punishable under Section 4(1) of the same legislation.

Offenders can be jailed up to 15 years and fined five times the amount or value of the proceeds from the illegal activity at the time it was committed, or RM5mil, whichever is higher.

Diana then set bail at RM7,000 and fixed Feb 15 for re-mention.

The accused was represented by S. Karthigesan while Harris Ong Mohd Jeffrey Ong prosecuted.

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