[UPDATED] Nicky Liow claims trial to 26 counts of money laundering totalling RM36 mil

SHAH ALAM – Businessman turned fugitive Nicky Liow Soon Hee today claimed trial to 26 counts of money laundering at the Shah Alam sessions court.

He is accused of laundering a total of RM36 million from 2016 to 2021, with the offences allegedly taking place in Ampang and Puchong, Selangor.

Judge Helena Sulaiman, after calling for a short recess to deliberate on bail, has set it at RM1 million with two sureties, and allowed for it to be paid in two tranches by tomorrow.

Liow will also be required to report to the Bukit Aman Commercial Criminal Investigations Department twice a month, and for his passport to be held by the court.

Sessions judge set bail at RM1 million with two sureties and allowed for it to be paid in two tranches by tomorrow.

Liow will also be required to report to the Bukit Aman Commercial Criminal Investigations Department twice a month, and his passport to be held by the court. pic.twitter.com/1iwrBJTuSx

— TheVibes.com (@thevibesnews) April 12, 2022

Liow arrived at the court complex around 8.40am here to face 26 charges that include organised crime and money laundering after surrendering to the police yesterday.

Media presence is high at the courthouse as photographers and reporters have been waiting at the main lobby since 8am, eager to get a glimpse of the previously elusive fugitive.

However, Liow managed to give the press the slip after he was brought into the courthouse through the rear entrance, evading the waiting eyes and lenses.

Upstairs outside the sessions court where Liow was to be charged, several men believed to be his acquaintances could be seen hanging around the hallways with several sitting inside the courtroom.

Dressed in all black and black loafers, Liow nodded in acknowledgement after being read each charge in Mandarin by the court interpreter.

He was represented by Datuk Rajpal Singh, with deputy public prosecutor Syafinas Shahbudin prosecuting.

When submitting on whether the court should grant bail, the prosecution argued that the accused should not be allowed bail due to the seriousness of the alleged offences and that he was a flight risk.

Syafinas said Liow was untraceable by authorities for over a year despite being on police’s and the International Criminal Police Organisation’s wanted list since March, and only turned himself in yesterday.

“The accused waited for over a year after the arrest warrant was issued and only emerged to surrender after his liberty and freedom were threatened because of the arrest warrant.

“There was also the warning that accompanied his wanted notice which stressed the risk of the accused possibly being armed and involved in gangsterism.”

In response, Rajpal said Liow showing up at the authority’s door yesterday was a strong enough testament of his intentions to challenge the charges framed against him and prove his innocence.

He then argued that other individuals charged under the same act had been granted bail, including the likes of Datuk Seri Najib Razak and Datuk Seri Ahmad Zahid Hamidi, who were allowed bail despite the amounts allegedly laundered in their trials running into hundreds of millions and even billions of ringgit.

“These are far more serious charges concerning much more serious issues and yet the court granted them bail.

“It has to be stressed that all should be equal before the law, and that a bail amount must be seen as just a compulsion for the accused to attend court, and not serve as a punishment.”

The prosecution later softened its approach and suggested bail of RM3.6 million be offered to Liow, but requested for the accused to remain under police custody until the full bail is posted.

Rajpal pleaded with the court for bail to be set at an amount lower than RM1 million, but the judge dismissed the request to keep Liow in police custody.

Helena allowed for bail and Liow’s release upon posting the first of two bail payments.

It was learned that as of 2pm, Liow was still in the process of posting the RM500,000 as the first half of his bail amount. 

“On March 23, the Shah Alam Court issued a warrant of arrest against Liow, to face charges under Section 4(1)(a) of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001,” said Deputy Inspector-General of Police Datuk Razarudin Husain after Liow surrendered at the Bukit Aman Commercial Crime Investigation Department yesterday.

If convicted, Liow faces a fine not less than five times the sum or value of the proceeds of unlawful activity he is accused of or RM5 million, whichever is higher, and, or, imprisonment not exceeding 15 years, for each charge.

He has been accused of being the mastermind behind Geng Nicky and has been wanted by the police over a Macau Scam syndicate. Some 68 of its members were arrested in Ops Pelican 3.0 in March last year.

He also founded the Winner Dynasty Group.

On April 9 last year, Liow and his brother were charged in the Petaling Jaya sessions court for allegedly being members of an organised crime group.

Liow was charged in absentia, as he was on the run.

On April 26 last year, the Pahang Palace revoked and stripped Liow of the Darjah Kebesaran Darjah Sri Sultan Ahmad Shah Pahang which carries the title of Datuk Seri, with immediate effect. – The Vibes, April 12, 2022