Frozen food firm, manager, accountant charged with money laundering

 

A frozen meat supplier company, its store manager, and accountant were charged at the Johor Bahru Sessions Court today with 16 counts of money laundering involving RM13.28 million.

The three accused, Syarikat LY Frozen Food Sdn Bhd, represented by its director Yong Chee Keong, 40; store manager Chong Kim Kuang, 48, and accountant Ng Yee Xin, 37, however, pleaded not guilty to all charges which were read separately before judge Fatimah Zahari.

The court also issued a warrant of arrest against the company’s other director Tan Siew Huak, 42, who is still at large.

According to the charge sheet, they were each charged with four counts of accepting proceeds from money laundering activities totalling RM13,278,625.27 from the company’s current account between Oct 31, 2018, and Dec 31, 2020, at two banks in Senai and Taman Molek, Johor Bahru.

The charge, under Section 4 (1) (b) of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds from Illegal Activities Act (AMLATFPUAA) 2001, carries a maximum jail term of 15 years and a fine of five times the amount or value of the proceeds at the time the offence was committed, or RM5 million, whichever is higher, if convicted.

This is the third time the company, Chong, Yong and Tan were charged in court after the first in February and the second in April this year - all relating to the meat cartel scandal.

The media reported in December last year that a syndicate had smuggled frozen meat into the country before repackaging it with the halal logo to be sold at local markets.

The cartel’s activity was uncovered following an integrated raid on a warehouse in Senai, with seizures estimated at RM 6.47 million.

- Bernama