Money Laundering Case: Two Individuals Remanded for Two Days
Background
A former senior executive of a media group and a woman have been remanded for two days to assist in investigations into a money laundering case. The remand order, which extends until tomorrow, was issued today by Magistrates Mason Jaro Lenya Barayan and Ling Hui Chuan following a police application. The individuals are aged between 50 and 60.
Represented by Lawyers
The man is represented by lawyer Roger Chin, while the woman, a managing director of a company, is represented by Datuk Shankar Ram. Both individuals were reportedly detained as part of Op Ragada.
Background of the Case
On January 10, Inspector-General of Police Tan Sri Razarudin Husain disclosed that five individuals, including a senior executive of a local broadcasting company, were arrested in connection with the money laundering investigation under Op Ragada. The suspects, comprising four men and one woman, aged 20 to 60, were detained at various locations, including Penang and Sarawak. Authorities seized assets worth a total of RM17,434,217 in the operations.
Modus Operandi
Razarudin explained that the modus operandi involved conducting money laundering activities through dubious financial transactions and committing offences such as criminal breach of trust, tender fraud, and awarding tenders to oneself or family members.
Charges
The case is being investigated under the following sections of the law:
- Section 4(1) of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 (Act 613)
- Sections 409, 420, and 403 of the Penal Code
- Section 23 of the Malaysian Anti-Corruption Commission Act 2009
Conclusion
The remand of the two individuals is a significant development in the ongoing investigation, and the authorities are working to uncover the extent of the money laundering activities. As the case unfolds, it is crucial for the public to remain vigilant and report any suspicious transactions to the authorities.
FAQs
- What is Op Ragada?
Op Ragada is a police operation aimed at combating money laundering and other financial crimes. - What is the scope of the investigation?
The investigation involves several bank accounts and assets worth RM17,434,217. - How many individuals have been arrested in connection with the case?
Five individuals, including a senior executive of a local broadcasting company, have been arrested.