Company director acquitted of money laundering, submitting false invoice charges

KUALA LUMPUR: The director of an electrical goods and home appliances company was discharged and acquitted by the Sessions Court here today on 43 charges in connection with money transfers amounting to RM16.5 million and 75 charges of submitting false invoices amounting to RM20.7 million.

Judge Rozina Ayob acquitted Datuk K. Jayakumar, 47, after finding that the prosecution had failed to prove a prima facie case against him.

A total of 36 prosecution witnesses testified in the trial which began on Oct 29, 2018.

Jayakumar was charged with 43 counts of transferring money amounting to RM16.5 million from the Maybank account of SMT Rezeki Sdn Bhd to a Maybank account belonging to Sinar Mentari Technology Sdn Bhd, believed to be proceeds from illegal activities.

He was accused of committing the act at an office on Jalan 13/48A, Sentul, here, between May 2015 and January 2016, under Section 4 (1) (b) of the Anti-Money Laundering, Anti-Terrorism and Proceeds of Unlawful Activities Act 2001.

The section carries a maximum jail term of 15 years and a fine of not less than five times the amount or value of proceeds from illegal activities, or RM5 million, or whichever is higher.

For the 75 counts of submitting false invoices, he was charged with giving TTD Solutions Sdn Bhd invoice documents amounting to RM20.7 million which contained false details on the supply of a package of two smartphone models to an agent who had an interest in order to confuse the agent's principal, leading to Koperasi Telekom Malaysia Berhad (Kotamas) to make the payment.

He was accused of committing the act at the Kotamas Office, Wisma Kotamas, Jalan Datuk Haji Eusoff, Kompleks Damai, here, between June and December 2015.

The charges were framed under Section 18 of the MACC Act 2009 and punishable under Section 24 (2) of the same Act which provides for a maximum imprisonment of 20 years and a fine of not less than five times the amount or value of the false items, or RM10,000, whichever is higher.

The prosecution was handled by the Malaysian Anti-Corruption Commission (MACC) DPP Mahadi Abdul Jumaat while lawyers Shashi Devan and Teh See Khoon represented Jayakumar.

-- BERNAMA