Genneva: Court allows BNM’s bid to suspend release of assets

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KUALA LUMPUR: The Sessions Court yesterday allowed the application by Bank Negara Malaysia (BNM) to suspend the enforcement of the order to release the assets of three directors and one former director of gold investment company Genneva Sdn Bhd.

Judge Datuk Rozana Ali Yusuff decided on the matter after submissions by BNM deputy public prosecutor Mardziatun Nisa Ahamadul Kabir and lawyer Mohamed Haniff Khatri Abdulla for the defence.

In her judgement, Rozana said she had used her discretion under Section 311 of the Criminal Procedure Code to allow the suspension pending the prosecution’s appeal against the directors’ acquittal. No date was set however.

On May 16, they were acquitted and discharged of 224 counts of money laundering and five counts of illegal deposit taking, involving more than RM100 million.

The three directors Ng Poh Weng, 63, had faced 93 counts; Marcus Yee Yuen Seng, 61, 40 counts and Chin Wai Leong, 37, 61 counts, whereas former director Liew Chee Wah, 59, 30 counts of money laundering.

They were charged under the Anti-Money Laundering and Anti-Terrorism Financing Act 2001 with committing the offences at Public Bank Berhad, Kuala Lumpur branch, Menara Public Bank, 146, Jalan Ampang between July 2008 and June 2009.

They were also charged under the Banking and Financial Institutions Act 1989 with five counts of illegally receiving deposits from the public, allegedly committed at Jalan Kuchai Maju 6, off Jalan Kuchai Lama between November 2008 and July 2009.

Ng, Yee and Chin were represented by lawyer Mohamed Haniff while lawyer Keppy Wong appeared for Liew. — Bernama