SEREMBAN: The owners of a local pharmaceutical company pleaded not guilty to multiple money laundering charges in Sessions Court today, accused of receiving RM3.7 million in illicit funds between January 2021 and May 2023.
Cheong Yin Ying, 39, and her husband James Ooi Joe Behn, 41, faced 14 charges related to suspicious financial transactions before Sessions Court Judge Mohamad Kamil Nizam.
The couple are the owners of Farmasi Zero Zero Seven and serve as directors of Fedes Sdn Bhd.
Yin Ying is accused of receiving proceeds from illegal activities from a man's account and two company accounts into her own account, totaling RM3,225,484 at the same location from January 2021 to May 2023.
James is charged with receiving proceeds from illegal activities from a man's account and a company account into his own account, totaling RM530,060 at Jalan Perindustrian Mantin 2, Mantin Industrial Area, from December 2022 to March 2023.
The charges are filed under the Anti-Money Laundering, Anti-Terrorism Financing, and Proceeds of Unlawful Activities Act 2001.
If convicted, they could face imprisonment for a term not exceeding 15 years and a fine of no less than five times the amount or proceeds from the illegal activity or the value of the equipment used in the offence at the time of the crime, or RM5 million, whichever is higher.
During the bail hearing, defence attorney Amirul Fairuzzeen Jamaluddin emphasised the couple's difficult circumstances, noting they have been unemployed since a December 2023 raid and are supporting three young children.
The court set James's bail at RM40,000 and Yin Ying's at RM60,000, with conditions including the surrender of their passports, monthly police check-ins, and a prohibition on contacting witnesses.
Their next court appearance is scheduled for Jan 6, 2025.