SHAH ALAM: Former fugitive Nicky Liow pleaded not guilty in the sessions court here today to 26 counts of money laundering totalling RM36 million.
The 34-year-old businessman, who was clad in black jeans and a long-sleeve t-shirt, made the plea after the charges were read to him in Mandarin before Judge Helina Sulaiman.
Liow, alleged to be the head of an organised criminal group, surrendered to police yesterday after being on the run for a year.
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He is accused of laundering RM36 million from various transactions which took place at several banks in Bandar Puteri Puchong and Ampang.
All of the offences were allegedly committed between 2016 and 2021.
The charges were framed under Section 4(1)(a) of the Anti-Money Laundering and Anti-Terrorism Financing Act 2001.
Liow faces a jail term not exceeding 15 years and shall be liable to a fine of not less than five times the sum or value of the proceeds of an unlawful activity, or RM5 million, whichever is higher, if found guilty.
The court allowed him bail of RM1 million in two sureties. The judge allowed the bail to be paid in two instalments, with the final one due tomorrow.
He was also ordered to surrender his passport and report to the commercial crime investigation department twice a month.
The court fixed May 26 for mention of the case.
The prosecution was led by Malaysian Anti-Corruption Commission (MACC) deputy public prosecutors Rozaliana Zakaria and Syafinas Shabudin. Liow was represented by lawyer Rajpal Singh.
Liow surrendered himself to the Bukit Aman commercial crime investigation department yesterday after escaping the police dragnet against his alleged Macau scam syndicate last year.
The crackdown led to the arrest of dozens of alleged gang members.
Two MACC officers and at least nine police officers said to be in cahoots with Liow were also arrested but later released on bail.
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