The Kuala Lumpur High Court has allowed the Malaysian Anti-Corruption Commission (MACC) to forfeit RM1.5 million from MonSpace (M) Sdn Bhd director Jessy Lai Chai Suang, believed to be proceeds from unlawful activities.
Deputy public prosecutor Allan Suman Pillai said judicial commissioner Aslam Zainuddin allowed the application as none, including Lai, came forward to make third-party claims.
Last year, MACC froze the accounts of the company under the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 (AMLATFPUAA).
It subsequently filed an application to forfeit the money.
Parties could file claims in court to return the money but had to show proof it was not proceeds from illegal activities.
Allan said the court allowed the forfeiture as no one came to make a claim under Section 28E of AMLATFPUAA, which concerns receipts of cash from overseas.
Reports had said Lai was the founder and chief executive officer of direct selling firm MonSpace.
It was reported on July 25, 2018, that 16 of MonSpace’s premises in Ipoh and the Klang Valley were raided a day earlier following investigations by the authorities.
The investigations were conducted under the Direct Sales and Anti-Pyramid Scheme Act 1993 and AMLATFPUAA. – FMT