AML / CFT: four plead not guilty to 322 charges of money laundering
Bestino Golden House Sdn Bhd, a private limited company in Malaysia, was closed down by Bank Negara Malaysia, the financial regulator, for illegal deposit taking. But in addition, its four directors have been charged with 322 charges of money laundering.
The four directors, Chong Yuk Ming, 49; Goon Koon Lee, 48; Chang Kuei Geh, 57 and Ho Chee Cheong, 41, have all pleaded not guilty to the offences which it is alleged took place in many locations around Malaysia between mid 2006 and late 2008.
The total moneys involved are alleged to be MYR156 million and assets worth an estimated MYR23 million have been frozen. However, one report says that Bank Negara prosecutors said that the deposit taking charges related to a sum of approximately MYR500 million, a figure that the defence says appears no where in any of the documents or charges.
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