IPOH: A married couple faced 75 charges in the Sessions Court today for unlicensed deposit-taking, promoting an unregistered investment scheme, and money laundering involving more than RM52.89 million.
Mohammad Riza Ahmad Hambadley, 57, and his wife Wan Ziraiza Wan Ismail, 55, pleaded not guilty to all charges read before Judges Ainul Shahrin Mohamad and Jean Sharmila Jesudason.
The case is jointly prosecuted by the Companies Commission of Malaysia, Bank Negara Malaysia, and the Attorney-General’s Chambers Money Laundering Crimes and Forfeiture Of Proceeds Of Crimes Unit.
Bank Negara Malaysia brought four charges against the couple for receiving public deposits without a licence under the Financial Services Act 2013.
These charges relate to a goat breeding investment scheme called Program Induk Kambing Baka Shami operated by Pertubuhan Amal Kita Kinta Perak in Batu Gajah.
The alleged offences occurred at a location in Batu Gajah between November 30, 2016 and July 15, 2023.
A conviction carries a potential penalty of up to 10 years imprisonment, a fine of up to RM50 million, or both.
The Companies Commission of Malaysia charged Mohammad Riza with five counts of promoting an unregistered scheme under the Interest Schemes Act 2016.
Wan Ziraiza faces five counts of abetting her husband in these alleged offences between March 3, 2017 and January 7, 2021.
These charges also carry a maximum penalty of 10 years imprisonment and a fine of up to RM50 million.
The couple additionally faces 61 counts of money laundering involving RM52.89 million.
Prosecutors allege they used proceeds from the scheme to purchase properties and vehicles in Perak between 2016 and 2024.
Money laundering charges fall under the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001.
A conviction could result in up to 15 years imprisonment and a fine of RM5 million or five times the amount involved.
Defence counsel initially requested bail of RM150,000 for Mohammad Riza and RM100,000 for Wan Ziraiza.
The court granted bail of RM100,000 for each defendant with one surety.
Judges fixed November 4 for case mention and submission of documents. – Bernama