Gold Investors Will Have To Wait For High Court Decision On Rm20mil Forfeiture


 
Genneva Sdn Bhd was convicted of five counts of collecting deposits from the public without a licence and fined RM2 million in 2018, while five of its directors were jailed and fined for money laundering and illegal deposit-taking. (File pic)PUTRAJAYA: About 175 gold purchasers and investors in Genneva Sdn Bhd will have to wait for the High Court to decide on the prosecution’s appeal to forfeit about RM20 million worth gold bars and other properties from the company and its four former directors under the anti-money laundering law.
This follows the Court of Appeal’s ruling today in allowing Genneva’s appeal that the matter be heard and determined by the High Court.
Justice SM Komathy Suppiah said it is only upon a preliminary order made by the High Court that the seized properties are forfeitable.
She said the court is required to publish third party notices under Section 61(2) of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 (Amla) and consider third party claims to the seized properties.
Justice Vazeer Alam Mydin Meera led a three-member Court of Appeal bench together with Justice Ahmad Zaidi Ibrahim and Komathy to hear Genneva’s appeal.
On Feb 21, 2018, the Court of Appeal sentenced directors Ng Poh Weng, Marcus Yee Yuen Seng, Chin Wai Leong and Liew Chee Wah to three years in jail and fined them RM1 million each for money laundering.
The court also sentenced them to five years jail and fined them another RM1 million for illegal deposit-taking.
Genneva Sdn Bhd, as a company, was convicted of five counts of collecting deposits from the public without a licence and fined RM2 million.
Bank Negara Malaysia then seized the gold bars and monies from Genneva as they were suspected to be proceeds from unlawful activity or used in the commission of offence of money-laundering.
Upon the application made by the prosecution, the court then issued third party notices calling on bona fide purchasers who claim to have interest in theproperties to appear before the sessions court to show cause as to why they shouldl not be forfeited and to return them to the owners.
On 27 Aug 2021, sessions court judge Rozina Ayob dismissed the prosecution’s application for a forfeiture order and further ruled that the third party notices under Section 61 of Amla were premature and, therefore, there was no necessity for her to consider the third party claims.
Dissatisfied with the sessions court’s decision, all the parties appealed to the High Court.
Then High Court judge Zaini Mazlan held that the sessions court judge should have decided on the applications by the bona fide third parties.
He stayed the appeals by the prosecution, Genevva, the gold purchasers and investors (respondents) and sent back the third party claims to the sessions court for determination.
The respondents then filed an appeal to the Court of Appeal against the High Court ruling. - FMT


Artikel ini hanyalah simpanan cache dari url asal penulis yang berkebarangkalian sudah terlalu lama atau sudah dibuang :

http://malaysiansmustknowthetruth.blogspot.com/2023/12/gold-investors-will-have-to-wait-for.html

Kempen Promosi dan Iklan
Kami memerlukan jasa baik anda untuk menyokong kempen pengiklanan dalam website kami. Serba sedikit anda telah membantu kami untuk mengekalkan servis percuma aggregating ini kepada semua.

Anda juga boleh memberikan sumbangan anda kepada kami dengan menghubungi kami di sini
Malaysia Hopes Madrid Court Will Sentence Stampa For Sulu Fraud

Malaysia Hopes Madrid Court Will Sentence Stampa For Sulu Fraud

papar berkaitan - pada 5/12/2023 - jumlah : 177 hits
The Malaysian government is hoping that the Madrid Court will on Dec 11 sentence Spanish arbitrator Gonzalo Stampa who is facing charges of unqualified professional practice after controversially ordering Malaysia to pay US 14 92 billion to...
Federal Court Declares Law Penalising Men For Enticing Married Women Unconstitutional

Federal Court Declares Law Penalising Men For Enticing Married Women Unconstitutional

papar berkaitan - pada 15/12/2023 - jumlah : 158 hits
The Federal Court has judicially repealed Section 498 of the Penal Code holding the offence of enticing taking away or detaining with criminal intent a married woman unconstitutional PUTRAJAYA The Federal Court has struck down as unconstitu...
Pm Hopes Japan Will Support Malaysia S Bid For Security Council Seat

Pm Hopes Japan Will Support Malaysia S Bid For Security Council Seat

papar berkaitan - pada 16/12/2023 - jumlah : 172 hits
Malaysia hopes for a seat on the Security Council in 2036 while Japan is a candidate to be a permanent member PETALING JAYA Malaysia and Japan have called for urgent reforms of the United Nations including expansion of the Security Council ...
Pilot S Poor Decision Making Blamed For Brinchang Helicopter Crash

Pilot S Poor Decision Making Blamed For Brinchang Helicopter Crash

papar berkaitan - pada 4/12/2023 - jumlah : 223 hits
Six people on board a flying doctor helicopter miraculously survived a crash in Cameron Highlands in October last year PETALING JAYA Poor decision making in bad weather by a helicopter pilot led to a crash in Cameron Highlands last year in ...
Court Orders Pas Mp To File For Defence Over Suits From Dap Leaders

Court Orders Pas Mp To File For Defence Over Suits From Dap Leaders

papar berkaitan - pada 19/12/2023 - jumlah : 166 hits
The George Town High Court ordered Kepala Batas MP Siti Mastura Muhammad today to file her statement of defence before or on Jan 11 next year in relation to the lawsuits filed against her by three DAP leaders The lawsuits filed separately b...
Stable Malaysia Has Clear Policies For Growth Japanese Investors Told

Stable Malaysia Has Clear Policies For Growth Japanese Investors Told

papar berkaitan - pada 16/12/2023 - jumlah : 175 hits
Prime Minister Anwar Ibrahim met his Japanese counterpart Fumio Kishida at ar bilateral meeting in Tokyo today Anwar was accompanied by foreign minister Mohamad Hasan and investment trade and industry minister Tengku Zafrul Aziz TOKYO Prime...
A Kuantan Mum S Desperate Wait For Her Missing 40 Year Old Son Nears Seven Years

A Kuantan Mum S Desperate Wait For Her Missing 40 Year Old Son Nears Seven Years

papar berkaitan - pada 14/12/2023 - jumlah : 275 hits
Housewife Chang Moi Lin with a picture of her missing son with Semambu assemblyman Chan Chun Kuang and Malaysia International Humanitarian Organisation public relations officer Daniel Khoo at Chan s service centre NSTP ASROL AWANGKUANTAN It...
Isham S Sacking A Lesson For All Umno Leaders Says Jeram Assemblyman

Isham S Sacking A Lesson For All Umno Leaders Says Jeram Assemblyman

papar berkaitan - pada 8/12/2023 - jumlah : 245 hits
Isham Jalil s sacking as an Umno supreme council member should send a message to other party leaders that the party will not tolerate attempts by anyone to divide it says Datuk Mohd Zaidy Abdul Kadir The Jeram assemblyman also said that it ...
Let S Not Return To The Old Ways Of Tight Media Control

Air Terjun Tujuh Puteri Bukit Sri Permata

Bank Islam Berwajah Baru Melalui Aplikasi Dan Web

Company Director Scammed Of Over Rm1mil By Inspector Harun

O G Firm Right To Dismiss Worker For Refusing Covid 19 Jab Says Industrial Court

How To Survive Thanksgiving Travel

Resipi Cheese Tart

Kyrkoherden Och Draken En F Rh Xande Saga Om Mod Och V Nskap Fr N Antika Spanien


echo '';
Senarai Lagu Tugasan Konsert Minggu 1 Gegar Vaganza 2024 Musim 11

Info Dan Sinopsis Drama Berepisod Dhia Kasyrani Slot Akasia TV3

Biodata Terkini Reshmonu Peserta Gegar Vaganza 2024 Musim 11 GV11 Penyanyi Lagu Hey Waley

Gegar Vaganza 2024 GV 11 Hadiah Tiket Peserta Juri Format Pemarkahan Dan Segala Info Tonton Live Di Astro Ria Dan Sooka

6 Janji Donald Trump Kalau Dia Naik Jadi Presiden Semula


Orang Tua Sekarang Membunuh Anaknya Secara Halus

Apabila Wanita Tertinggi Dan Paling Pendek Bertemu

Seorang Sahaja Zul Ariffin Tersasul Doa Minta 4 Isteri

Isu Artis Mangsa Buli Syafiq Yusof Gesa Produksi Main Peranan Perlu Wujudkan Suasana Friendly

Kathryn And Sydney S Fantastic Pantyhose Adventure Part One

15 Creative Diy Fall Garlands To Spruce Up Your Autumn D Cor