PUTRAJAYA, Feb 28 — Four former directors of gold investment firm Genneva Sdn Bhd (GSB) convicted of money-laundering and receiving unlicensed deposits involving transactions worth more than RM200 million were denied a stay of their eight-year jail sentence, pending hearing of their review application.
The Court of Appeal’s three-man bench comprising Datuk Rohana Yusuf, Datuk Ahmadi Asnawi and Datuk Harmindar Singh Dhaliwal today dismissed their formal application to stay the sentence.
In their application, Ng Poh Weng, 67, Datuk Marcus Yee Yuen Seng, 65, Chin Wai Leong, 41, and Liew Chee Wah, 63 also wanted the court to release them on bail, pending disposal of their review at the Court of Appeal.
In her decision, Rohana said the court was not persuaded the applicants had made out special circumstances to be given a stay, pending hearing of their review application.
On Feb 21, this year, the Court of Appeal convicted them on 154 charges of money laundering and four counts of receiving unlicensed deposits and sentenced them to eight years’ jail and fine of RM1 million each.
The four were ordered to serve the sentences consecutively from that day after their oral application for a stay of their sentences was denied by the court.
That Court of Appeal bench comprising Datuk Wira Mohtarudin Baki, Datuk Zakaria Sam and Datuk Abdul Karim Abdul Jalil also convicted GSB on five counts of receiving deposits from the public without a licence and fined RM2 million.
The court sentenced the four to five years in jail and a fine of RM1 million in default one year's jail for charges of receiving non-licensed deposits, and another three years' imprisonment for money-laundering.
On May 16, 2013, the Kuala Lumpur Sessions Court freed the four and the High Court upheld that decision on Sept 20, 2016.
They allegedly committed the money laundering offences at Menara Public Bank, 146, Jalan Ampang in Kuala Lumpur between July 2008 and June 2009, and the illegal deposit-taking offences at the company's premises in Jalan Kuchai Maju 6, Kuala Lumpur, between November 2008 and July 2009.
In the proceedings today, lawyer Datuk Harpal Singh Grewal told the court that the review application had been filed and the hearing, fixed on March 23.
Harpal and Tan Sri Dr Muhammad Shafee Abdullah represented Ng, Yee and Chin while lawyer Keppy Wong acted for Liew. — Bernama