Monday, October 26, 2020

Malaysia: MonSpace directors charged again, this time for money laundering

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Two female directors of a multi-national investment company, already charged with conducting a direct sales business without a licence, were brought to the Sessions Court here again today and charged with three counts of using the company’s bank accounts as instruments for money laundering.

However, Datuk Seri Lai Chai Shuang, 49, and Chai Ling Mooi, 48, pleaded not guilty after the charges were read out before judge Zamri Bakar.

On all three charges, the two women were alleged to have used the bank accounts belonging to MonSpace (M) Sdn Bhd as instruments for money laundering of proceeds from unlawful activities.

Read MoreMalaysia: Prominent Lawyer Shafee’s money-laundering trial moved to March next year

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The offences were allegedly committed at Public Bank, Maybank and RHB Bank in Kuala Lumpur between June 6, 2016 and July 24 last year.

Lai and Chai, both represented by lawyer Andy Yong Kim Seng, were released on bail of RM100,000 in one surety each. The court set September 6 for mention.

The prosecution was conducted by deputy public prosecutor from the Domestic Trade and Consumer Affairs Ministry, Ahmad Farid Ahmad Kamil.

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