BUTTERWORTH: A former bank officer was charged at the Sessions Court here today with 14 counts of money laundering totalling RM3.409 million.
R. Ganesan, 35, claimed trial to all the charges read to him before Judge Noor Aini Yusof.
He claimed trial to 14 money laundering charges by involving himself in illegal transactions by receiving cash from 12 individuals at the Malayan Banking Berhad branch in Taman Inderawasih, Prai here between Aug 22, 2017 and Oct 7, 2019.
The charges were framed under Section 4(1)(b) Anti-Money Laundering and Anti-Terrorism Financing and Proceeds of Unlawful Activities Act (AMLATFPUAA) 2001.
The offence under AMLATFPUAA carries a jail term not exceeding 15 years' and a fine of at least five times the sum obtained from money laundering or RM5 million, whichever is higher, upon conviction.
Deputy Public Prosecutor Muhamad Syeqal Che Murat prosecuted while the accused was represented by Pyara Singh.
"We are not offering any bail," Muhamad Syeqal told the court.
Pyara, however, urged the court to grant his client bail.
"My client also faced other charges and was granted bail.
"He had also cooperated throughout," Pyara added.
Noor Aini set bail at RM10,000 for each of the charges, bringing the total bail to RM140,000,
with one surety.
She then fixed Jan 17, next year for mention pending submission of documents.
It is learnt that the accused's modus operandi was to invite individuals to invest in the bank's investment scheme, and instructed them to hand over the money directly without going through online banking.
The accused promised the individuals various rewards but did not register his victims in the investment scheme, and instead used the money for his personal gain.