Businessman charged with RM2.45m money laundering

- Advertisement - [resads_adspot id="2"]

A businessman pleaded not guilty in the Johor Baru Sessions Court today to money laundering, involving RM2.45 million.

Mohd Yazzid Ahmad, 40, who claimed to be related to the Johor royal family and uses the name ‘Tunku Yazzid’ to deceive a company, made the plea before Judge Ahmad Fuad Othman.

He was charged with obtaining RM2.45 million, believed to be proceeds from unlawful activities from a 47-year-old man outside a bank in Permas Jaya, on April 16, 2019.

The charge, framed under Section 4 (1) (b) of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful  Activities Act 2002 (Act 613), provides an imprisonment for up to 15 years and fine of not less than five times the amount or the ill-gotten gains, or RM5 million, whichever is higher, upon conviction.

The court allowed him bail of RM100,000 with one surety and set Feb 1 for mention.

The prosecution was conducted by Deputy Public Prosecutor Ahmad Farid Ahmad Kamal, while Mohd Yazzid was represented by lawyer Shaik Saleem SM Daud.