KUALA LUMPUR: More than RM169 million of assets owned by Asia Media Group Bhd's founder and former chief executive officer Wong Shee Kai or Ricky Wong have been frozen by the Kuala Lumpur High Court.
Wong, who is still at-large, is wanted by the Securities Commission (SC) over alleged money laundering.
The SC, in a statement today, said the High Court had on Friday granted an interim order for it to freeze the assets.
The order stemmed from the SC's suit against Wong and two other parties in relation to securities fraud offences involving Bright Packaging Industry Bhd under Section 179 of the Capital Markets and Services Act 2007 (CMSA).
The order, obtained under Section 360 of the CMSA, prohibits Wong, his mother Teh Sew Wan and a company owned by them, Wong SK Holdings Sdn Bhd, from dealing with assets and properties to the value of about RM169.22 million.
"In granting the order, Judicial Commissioner Anand Ponnudurai also required the three defendants to disclose a full, complete and accurate account of their respective assets within and outside Malaysia.
"This order will bind all the defendants and also prohibit any person from knowingly assisting or permitting any dealings with the defendants' assets and properties," the SC said.
The commission added that under the terms of the order, banks were not permitted to exercise a right of set off of any facility they may have given to the defendants.
"The High Court further ordered that during the Movement Control Order period, service of this order on all the defendants is considered valid if it is advertised in an English newspaper," the SC said.
In its earlier statement on April 27, the SC said Wong was wanted in connection with offences under the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001.
The SC had also on April 3 sought Interpol's assistance to find Wong.
The search followed on from the issuance of a warrant of arrest against Wong by the Kuala Lumpur Magistrate's Court on December 27, 2019 for failing to appear before the SC's investigating officer as required under section 32(3)(a) of the act.
Wong will, upon conviction and is found guilty, be liable to a fine not exceeding RM3 million or imprisonment for a term not exceeding five years, or both, under section 32(8) of the same act.