Nicky Liow claims trial to laundering RM36m
Alleged gang leader Nicky Liow Soon Hee has claimed trial to 26 counts of money laundering totalling RM36 million at the Shah Alam Sessions Court today.
He pleaded not guilty before judge Helina Sulaiman, and said he understood the charges against him...
Alleged gang leader Nicky Liow Soon Hee has claimed trial to 26 counts of money laundering totalling RM36 million at the Shah Alam Sessions Court today.
He pleaded not guilty before judge Helina Sulaiman, and said he understood the charges against him.
All charges were under Section 4(1) of the Anti Money Laundering Act, according to The Star.
Liow faces up to 15 years in jail and a fine between RM5 million and up to five times the amount involved.
The court granted him bail of RM1 million in two sureties. He was also required to surrender his passport.
Prosecutors had argued that he should not be granted bail, citing a risk that he may abscond.
Liow had been on the run for over a year before he turned himself in at the Bukit Aman Commercial Crimes Investigation Department headquarters along Jalan Tun Razak yesterday.
Also known as “Datuk Seri Nicky”, the founder of Winner Dynasty Group landed on the police's wanted list for his alleged involvement in a syndicate dubbed “Gang Nicky”.
Police believe the syndicate was involved in various organised crimes such as fraud and money laundering.
Liow was reportedly investigated under Sections 130V to 130ZB of the Penal Code for organised crime-related activities.
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