Company, its four directors charged with over RM20.3mil in money laundering

GEORGE TOWN: A company and its four directors were charged in the Sessions Court here on 94 counts of money laundering amounting to RM20.3mil between Jan 2019 to Dec 2022.

Domestic Trade and Cost of Living Ministry Enforcement director-general Datuk Azman Adam said Quinton Group Sdn Bhd along with its four directors, namely Tan Kwong Yeow, 35, Ooi Chuen Chie, 35, Lim Shing Yee, 31, and Seow Ming Cjoy, 32, were brought before the court on Oct 18.

Azman said in a statement on Saturday (Oct 28) that all four pleaded not guilty to the charges which were read before Judge Mazdi Abdul Hamid who then fixed Dec 1 for next mention of the case.

"All the accused are alleged to have received money from illegal proceeds amounting to RM2.08mil from a current account belonging to Quinton Group Sdn Bhd for the period from 2019 to 2022.

"All the directors of the company were also accused of having used money from illegal sources amounting to RM168,681.00 to acquire eight luxury vehicles during that period,” he said.

The charges were made under Section 4(1)(b) of the Anti-Money Laundering, Anti-Terrorist Financing and Proceeds of Unlawful Activities Act 2001 (AMLATFPUAA) which carries a prison sentence of up to 15 years and can also be fined not less than five times the amount or a fine not exceeding RM5mil, whichever is higher, if convicted.

Azman said the court allowed all the accused to be bailed at a total of RM1,748,000 with one surety for each accused.

"The court also set additional conditions for all the accused to report to the police station every month, surrender their passports to the court and prohibited from intimidation of witnesses in any way,” he said.- Bernama