IPOH — A married couple, Mohammad Riza Ahmad Hambadley, 57, and his wife Wan Ziraiza Wan Ismail, 55, have been charged in Sessions Court with 75 counts involving unlicensed deposit-taking, promoting an unregistered investment scheme, and money laundering totaling more than RM52.89 million.
Mohammad Riza, who is unemployed, and Wan Ziraiza, a lecturer at an educational institution in Perak, pleaded not guilty to all charges when they were read separately before Judges Ainul Shahrin Mohamad and Jean Sharmila Jesudason.
The case is jointly prosecuted by officers from the Companies Commission of Malaysia (SSM), Bank Negara, and the Attorney General’s Chambers’ money laundering crimes and forfeiture of proceeds of crimes unit.
Under Bank Negara’s charges, the couple faces four counts of receiving deposits without a valid license under Section 10 of the Financial Services Act 2013. The offences allegedly involved a goat breeding investment scheme called Program Induk Kambing Baka Shami, operated by Pertubuhan Amal Kita Kinta Perak (PAKKP) in Batu Gajah, between Nov 30, 2016, and July 15, 2023.
If convicted, the couple could face up to 10 years in prison, fines up to RM50 million, or both under Section 137(2) of the Financial Services Act.
Mohammad Riza also faces five counts under the Interest Schemes Act 2016 for promoting the unregistered scheme, while Wan Ziraiza faces five counts of abetting him. These charges relate to offences between March 3, 2017, and Jan 7, 2021, and carry a similar maximum penalty of 10 years imprisonment or fines up to RM50 million.
Additionally, the couple faces 61 counts of money laundering involving RM52.89 million. It is alleged that proceeds from the investment scheme were used to purchase properties and vehicles in Perak between 2016 and 2024. These charges fall under the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001, with a maximum sentence of 15 years imprisonment and fines up to RM5 million or five times the amount involved.
The court granted bail of RM100,000 each with one surety, after the defence requested bail amounts of RM150,000 for Mohammad Riza and RM100,000 for Wan Ziraiza, with no objections from the prosecution.
The case is set for mention and submission of documents on November 4.
