Couple gets 590 years for illegally taking deposits

Couple gets 590 years for illegally taking deposits

KUANTAN - A company director was sentenced to 424 years in jail and his wife to 166 years for multiple convictions of illegal deposit taking amounting to some RM180million (S$70 million).

Jailani Jabar, 54, and his wife Latifah Taib, 53, both directors of Jai Network Systems Sdn Bhd, were also fined a total of RM29mil and RM21mil respectively for 189 counts of taking deposits without a licence under the Anti-Money Laundering and Anti-Terrorism Financing Act.

Jailani and Latifah will serve four years and two years respectively as Sessions Court judge Noradidah Ahmad ordered the sentences to run concurrently.

However, Jailani was also sentenced to another six years jail and his wife a further four years under the Banking and Financial Institutions Act for illegal taking of deposits.

Their company was fined RM3mil for the offence committed from February 2006 to October 2007.

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