The RM5.5bil deposits were received by Genneva from 35,000 depositors.
They are directors Datuk Philip Lim Jit Meng, 56, and Datuk Tan Liang Keat, 41, general manager Lim Kah Heng, 42, as well as business advisers Datuk Ng Poh Weng, 63, Datuk Marcus Yee Yuen Seng, 61, and Datuk Chin Wai Leong, 37.
The officials are facing fines of up to RM5mil or a maximum jail term of five years or both under Section 4(1)(a) of the Anti-Money Laundering and Anti-Terrorism Financing Act 2001.
Previous news ....................................................
KUALA LUMPUR, 27 Sept 2013 - Six directors from gold traders Genneva Malaysia Sdn Bhd have been slapped with over 900 charges of money laundering involving RM5.5bil and 35,000 depositors in the Sessions Court here.
Genneva Malaysia Sdn Bhd directors Datuk Philip Lim Jit Meng and Datuk Tan Liang Keat faced 246 and 226 counts of money laundering respectively; business advisers Datuk Ng Poh Weng (157), Datuk Marcus Yee Yuean Seng (17), Datuk Chin Wai Leong (23), and general manager Lim Kah Heng (16).
All six claimed trial to the charges.
The company itself, Genneva Malaysia Sdn Bhd, faced 222 counts of money laundering and Success Attitude Sdn Bhd, eight counts.
Four of them, Philip Lim, Tan, Lim Hah Heng and Ng, were also charged with two counts each of accepting deposits without a valid licence via a scheme involving gold transactions under the Banking and Financial institutions Act 1989.
Earlier, Philip Lim and Tan pleaded not guilty at another Sessions Court to making a false statement in an advertisement on the company's website, saying its gold trading was in accordance with Islamic law.
Genneva Malaysia Sdn Bhd also faced a similar charge.
The case has been set for mention on Oct 28 and the two were granted bail of RM20,000 each.
sTAR Online
But UMNO hacks go free.... when so many of their companies go down.... and get bailed out like Mahathir's son to the tuenof billions paid for by Sabah and Sarawak oil money.
ReplyDeleteSo how is that for UMNO discriminatory justice??