Genneva couple claim trial to money laundering

GEORGE TOWN - A couple pleaded not guilty yesterday to 81 charges of money laundering carried out over 11/2 years.

Joseph Kow Hock Beng, 55, and his wife, Veronica Tan, 51, were separately charged at the Sessions Court here.

Kow was slapped with 44 charges while Tan had 37 charges.

The duo denied being involved in money laundering after receiving cheques from Genneva Malaysia Sdn Bhd that were deposited into their personal bank accounts between March 2011 and September last year. Kow allegedly received RM7.9 million while Tan received RM7.8 million during the period.

The couple, from Penang, are consultants for Genneva and directors of several firms.

Tan also claimed trial to being involved in money laundering after 54 gold bars were found in her bank safe deposit box on Dec 31 last year.

Six companies, where Kow is a director, were also charged with similar money laundering offences.

Kow claimed trial to 41 counts of money laundering charges on behalf of J Emerald Sdn Bhd, Agensi Pekerjaan AJ Utama Sdn Bhd, KHB Global Sdn Bhd, Parcel Post (M) Sdn Bhd, Logistics Hartamas (M) Sdn Bhd and CFM Logistics Sdn Bhd.

They face up to RM5 million in fines or five years' jail, or both, on conviction under Section 87 of the Anti-Money Laundering and Anti-Terrorism Financing Act 2001.

The couple were represented by Ong Yu Shin and B. Jeyasingam while deputy public prosecutor Pang Chuin Keat prosecuted.

Sessions Court judge Khairul Anuar Abdul Halim set bail at RM50,000 each in one surety and transferred the proceedings to the Kuala Lumpur Sessions Court as the the alleged money laundering activities by Genneva took place in Kuala Lumpur.