SHAH ALAM, Jan 26 — A businessman was sentenced to a day’s jail and fined RM50,000 in default 12 months imprisonment by the Sessions Court here today for offering remittance service without a licence from Bank Negara Malaysia (BNM).
Judge Rozilah Salleh ordered Edelweiss MN Enterprise sole proprietor K. Muniandy, 53, who admitted committing the offence at Bandar Sungai Pelek, Sungai Pelek, Sepang between Sept 29, 2017 and Jan 16, 2018, to go to jail today.
The charge under Section 4(1) of the Money Services Business Act 2011 (Act 731), punishable under Section 4(4) of the same Act, carries a maximum RM5 million fine or 10 years imprisonment, or both on conviction.
Based on the facts of the case, an investigation team from BNM raided the businessman’s premises on Jan 16 and found RM738, three business record books, two receipt books, three bank books, a sticker and a banner.
A check with the record system at BNM’s Money Services Business Regulation Department confirmed that Edelweiss MN Enterprise was never issued a licence to carry out the business.
Earlier in mitigation, Muniandy’s counsel Arik Zakri Abdul Kadir told the court that the accused was suffering from asthma and also had to support a wife and two of his children.
However, BNM prosecuting officer Edward Chan urged the court to impose an appropriate sentence in view of the seriousness of the offence.
On Jan 19, Muniandy was fined RM15,000 at the same court after pleading guilty to using the words, ‘kiriman wang’ in an advertisement sticker at his premises without written approval from BNM. — Bernama
