SEREMBAN: Company Director Pleads Not Guilty to Money Laundering Charges
Cheong Yin Ying, a 39-year-old company director, pleaded not guilty to two charges related to money laundering at the Sessions Court today. The charges were read to her separately before Judge Mohamad Kamil Nizam.
Cheong is accused of using her company’s property, located at Jalan Perindustrian Mantin 1 and 2, Kawasan Perindustrian Ringan Mantin, for illegal activities. The alleged offenses took place on December 15, 2023. She faces charges under Section 4(1)(a) of the Anti-Money Laundering, Anti-Terrorism Financing, and Proceeds of Unlawful Activities Act 2001 (Act 613).
If convicted, the penalty could include up to 15 years in prison, along with a fine that is five times the amount of illegal proceeds or equipment used, or RM5 million, whichever is higher.
During the hearing, Deputy Public Prosecutor Natasha Chin requested that bail be set at RM50,000 for both charges. However, Cheong’s lawyer, Amirul Fairuzzeen Jamaluddin, argued for a lower amount based on a previous case in the same court. The lawyer requested that the bail amount remain consistent with a prior case involving the same defendant.
Judge Mohamad Kamil ultimately set bail at RM15,000 with one surety for both charges and scheduled a case mention for January 6 of the following year.
It is worth noting that on December 5, Cheong and her husband, Ooi Joe Behn, 41, were charged with receiving RM3.7 million in illegal proceeds between 2021 and 2023. The couple was granted bail at RM60,000 for Cheong and RM40,000 for Ooi, with one surety each.
