KOTA BARU (Malaysia): Four directors of an investment company, who faced charges of illegal deposit- taking last year, were charged again yesterday in a Sessions Court here with laundering RM33mil.

Two of the four - M. Bakri Kamaruddin, 47, and Zainal Md Yusof, 45 - who are directors of Pan Phoenix Dina Sdn Bhd, Pan Phoenix Dina Holdings Berhad and Pan Phoenix Steel Sdn Bhd, pleaded not guilty to a total of 112 charges against them for alleged money-laundering activities under Subsection 4(1) of the Anti-Money Laundering and Anti-Terrorism Financing Acts.

Bakri and Zainal, who faced 56 charges each, were accused of transferring illegal money and laundering money in several accounts between July 2007 and April 2008.

Both were represented by Mohd Firuz Jaffril and Azahir Nasir, and if found guilty, would be liable to a five-year jail sentence or a maximum RM5mil fine, or both, for each charge.

The other two directors of Business Time Dina Sdn Bhd, Hazlan Abdul Hamid, 36, and Hasri Mohd Nor, 38, faced one charge each and pleaded not guilty to possession of laundered money totaling RM83,962.50 in the company's accounts in Amislamic Bank Berhad at Jalan Sultan Ibrahim in Kota Baru on May 26, 2008.

They were charged under subsection 4(1) (a) of the Anti-Money Laundering Act and Anti-Terrorism Financing Act read together with subsection 87 (1) (a) of the same Act.

Deputy Public Prosecutor Rahimah Abdul Majid made an application to the court to set bail at RM1mil with one surety each for Bakri and Zainal based on the seriousness of the offences, while Hazran and Hasri were given bail of RM50,000 each.

Mohd Firuz pleaded to the court to reduce the bail as both his clients had already posted bails in the Kuala Lumpur and Kota Baru courts when they were charged with illegal deposit taking last year.

Sessions Court Judge Che Mohamad Zulkifly Jusoh then allowed bail of RM500,000 for Bakri and Zainal with one surety each while Hazlan and Hasri were allowed bail of RM30,000, also with one surety each.

The judge set the case for mention on May 20.