A former banker was charged with six counts of money laundering and fraud related to the purchase of shares amounting to RM808,000, in 2013.
: A former banker was charged at two Sessions Courts here today with six counts of money laundering and fraud related to the purchase of shares amounting to RM808,000, in 2013.
All the offences were charged under Paragraph 4 of the Anti-Money Laundering and Anti-Terrorism Financing Act 2001 which carries a maximum fine of RM5 million or imprisonment of up to five years or both, if convicted. All the offences were allegedly committed at the same time and place under Subsection 179 of the Capital Markets and Services Act 2007 which is punishable under Section 182 of the same act which carries a maximum jail term of 10 years and a fine of up to RM1 million, upon conviction.
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