KUALA LUMPUR: Liow Soon Hee, better known as Nicky Liow, paid a RM10mil compound before the 26 money laundering charges against him were withdrawn, said Attorney General’s Chambers (AGC).
The AGC said the payment, made on May 29, 2023, was agreed upon after it carefully considered representations submitted by Liow’s lawyers seeking to compound all 26 charges under Section 92 of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001.
It said the settlement also included the forfeiture of a RM647,366 bond and forfeiture of the properties that had been seized.
“Liow Soon Hee (Nicky Liow) was not at any time released without any legal action being taken against him,” the AGC said in a statement on Friday (Aug 7).
The statement was issued in response to a news portal report titled “30 CSOs urge AG to explain DNAA for Nicky Liow”, published on Aug 5.
Liow was charged with 26 offences under Section 4 of the Act at the Shah Alam Sessions Court on April 12, 2022.
His trial had been scheduled for July 6 and 31, Aug 1 to 3 and Aug 7 to 10, as well as Sept 25 to 27, 2023.
The AGC said Liow, through his lawyers from Messrs Rajpal, Firah & Vishnu, submitted representations dated Dec 15, 2022, and April 6, 2023, seeking to compound all 26 charges.
“The representations submitted by Liow’s side were examined and studied in detail.
“Based on the entirety of the evidence available, and based on the prosecution’s assessment and consideration, the department agreed to offer a compound of RM10mil,” it said.
The AGC said the amount was agreed to by Liow and subsequently paid on May 29, 2023.
Following the payment, the AGC withdrew the charges in accordance with Section 92 of the Act.
On June 15, 2023, the Shah Alam Sessions Court ordered Liow to be discharged and acquitted of all the charges.
The AGC said the decision was made in accordance with the powers and discretion of the Attorney General under the Federal Constitution and relevant laws.
It stressed that the decision was based on the provisions of the law and the overall evidence obtained from investigations, without being influenced by external pressure or public sentiment.
“This was done while taking into account the integrity of the prosecution process and the need to ensure transparency in the criminal justice system,” it said.
