Company fined about RM5mil for money laundering, illegal direct selling activities

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PUTRAJAYA, Oct 9 (Bernama): A company selling supplementary health food products has been fined RM5.15mil for money laundering, and promoting and conducting direct sale activities without a valid licence.

According to the Domestic Trade and Consumer Affairs Ministry , Sessions Court judge Kamar Jamaludin meted out the punishment after the company pleaded guilty at the Kuala Lumpur Sessions Court on Monday.

The company was charged with committing the offence on Oct 27, 2018 at about 11.30 pm at a premises in Kuala Lumpur. The company was charged with six counts of receiving money amounting to RM450,000 being proceeds from illegal activities from direct sale businesses without a valid licence, involving three current accounts of the company at three different banks.The prosecution was conducted by KPDNHEP deputy public prosecutor Syazwani Zawawi for the offence under AJLSAP 1993 and Rohaiza Zainal for the offences under AMLATFPUAA 2001.

 

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