BUTTERWORTH – A former bank officer was charged in the sessions court here today with 14 counts of money laundering amounting to RM3.41 million that he is accused of committing since 2017.
Accused R. Ganesan, 35, pleaded not guilty after the 14 charges were read out before judge Nor Aini Yusof.
According to the charge sheet, Ganesan, who was then working as a financial adviser, is alleged to have received cash amounting to RM3.41 million from 12 individuals at Malayan Banking Bhd at the Taman Inderawasih Perai branch between August 22, 2017 and October 7, 2019.
The offences come under Section 4(1)(b) of the Anti-Money Laundering, Prevention of Financing of Terrorism and Proceeds from Illegal Activities Act 2001 [Act 613] which is punishable under Section 4(1) of the same act.
If convicted, he could be jailed for up to 15 years and fined not less than five times the proceeds from illegal activities or RM5 million or whichever is higher.
Deputy public prosecutor Syeqal Che Murat asked the court not to allow bail for Ganesan due to the offences involving a high number of losses.
However, lawyer Pyara Singh applied to the court to allow bail with a commensurate amount as the accused gave good cooperation to police.
Nor Aini then allowed Ganesan bail at RM140,000 with one surety and set January 17 as the case re-mention date.
It is understood that Ganesan’s alleged modus operandi was to invite the victim to invest in the bank’s investment scheme and then instruct them to hand over the money directly without going through online banking. The victims were allegedly promised various high rewards. – The Vibes, December 13, 2021
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