PETALING JAYA: The withdrawal of money laundering charges against businessman Nicky Liow Soon Hee came after he agreed to pay a RM10mil compound and forfeit a bond and seized assets, says the Attorney General’s Chambers (AGC).
The AGC said the decision followed a careful review of representation letters submitted by Liow’s lawyers, who had requested that all 26 charges against him be compounded under the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 (Act 613).
“Liow’s solicitors, Messrs Rajpal, Firah and Vishnu, submitted letters of representation dated Dec 15, 2022, and April 6, 2023, to the AGC requesting that all 26 charges against him be compounded under Section 92 of Act 613.
“The representations were examined and reviewed in detail. Based on the entirety of the available evidence, and following the prosecution’s assessment and consideration, the AGC agreed to offer a compound of RM10mil,” it said in a statement yesterday.
Liow paid the compound on May 29, 2023, and agreed to the forfeiture of a RM647,366 bond as well as assets seized from him.
The Shah Alam Sessions Court subsequently granted Liow a discharge not amounting to an acquittal on June 15, 2023.
“The AGC wishes to clarify that Liow was not released at any time without legal action being taken against him.
“The decision taken was in line with the powers and discretion of the Attorney General under the Federal Constitution and relevant laws, based on evidence gathered during the investigation.
“It was also carried out without being influenced by external pressure or public sentiment, while taking into account the integrity of the prosecution process and the need to ensure transparency in the criminal justice system.”
Liow was charged at the Shah Alam Sessions Court in April 2022 with 26 counts of money laundering involving RM36mil under Act 613.
The founder of Winner Dynasty Group was previously on the run for a year before surrendering to the police over various cheating and online scam cases.
