KUALA LUMPUR, March 10 — The High Court today maintained the five years’ jail and RM1 million fine on two illegal brokers convicted of illegal money laundering involving more than RM5 million, 14 years ago.
Justice Datuk Azman Husin in dismissing Gan Kiat Bend and Ismail Husin’s appeal, held that the Sessions Court was safe and that the prosecution also succeeded in proving the elements of the charge against them.
Gan, 58, was convicted for four counts of money laundering involving four separate transactions totalling RM2.4 million at Standard Chartered Bank Malaysia Berhad, No. 2, Jalan Ampang, between November 19, 2003 and January 5, 2004.
Ismail, 65, was convicted for 12 counts at the same place involving 12 separate cheques totalling RM2.85 million between November 19, 2003 and January 13, 2004.
They were sentenced by the Sessions Court on December 23, 2010.
The charge under Section 4(1) of the Prevention of Money Laundering Act 2001 carries a maximum RM5 million fine or not more than five years’ imprisonment, or both, on conviction.
Meanwhile, the duo’s lawyers Zeffree Zainudin and Wan Aizuddin Wan Mohammed applied for a stay of the sentence pending their appeal to the Court of Appeal.
The court granted the application and maintained the RM170,000 bail imposed on each of the appellants.
Deputy public prosecutor Nur Ashikin Mokhtar represented the prosecution. — Bernama
