KUALA LUMPUR - Six senior officials of gold investment scheme company Genneva Malaysia Sdn Bhd and a company were slapped with an unprecedented 926 charges of money laundering, making false statements and illegal deposit-taking involving RM5.5bil (S$2 billion).
The RM5.5bil deposits were received by Genneva from 35,000 depositors.
They are directors Datuk Philip Lim Jit Meng, 56, and Datuk Tan Liang Keat, 41, general manager Lim Kah Heng, 42, as well as business advisers Datuk Ng Poh Weng, 63, Datuk Marcus Yee Yuen Seng, 61, and Datuk Chin Wai Leong, 37.
The officials are facing fines of up to RM5mil or a maximum jail term of five years or both under Section 4(1)(a) of the Anti-Money Laundering and Anti-Terrorism Financing Act 2001.
The charge sheet was so long that a court interpreter took over 30 minutes to read out the money laundering charges in a simplified manner after informing each person of their respective total charges.
Of the figure, Genneva faces 222 money laundering charges while a related company, Success Attitude Sdn Bhd, faces eight money laundering charges.
In the first Sessions Court, Jit Meng, Tan and Genneva face a separate charge each of making a false statement in an advertisement on the company's website that the gold trading was in accordance with Islamic law.
Jit Meng appeared for the company to plead not guilty to the summons charges. The two also claimed trial to the charges.
They are accused of committing the offence at Jalan Kuchai Maju 6 between Feb 16 last year and Oct 1 last year.
Each faces a fine of not more than RM250,000 or jail up to three years or both under Section 18(1) of the Trade Descriptions Act 2011.