Seized I Serve Assets Released Last Year Says Agc

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The AGC says investigations into Goh Hwan Hua are ongoing, but seized funds have been released after the court’s forfeiture order lapsed.
The AGC said police seized an estimated RM7.1 million in assets linked to i-Serve Online Mall Sdn Bhd and related companies between October and December 2023.PETALING JAYA: The Attorney-General’s Chambers (AGC) says assets seized in the i-Serve Online Mall case were released last year following the expiry of a court forfeiture order
In a statement, the AGC said police seized an estimated RM7.1 million in assets linked to i-Serve Online Mall Sdn Bhd and related companies between October and December 2023.
“As of now, there are no remaining assets belonging to i-Serve Online Mall under seizure by the enforcement authorities,” it said.
The AGC said investigations into businessman Goh Hwan Hua are ongoing, as part of a wider probe into i-Serve and its related entities.
“The offences under investigation involve commercial transactions and complex financial flows. The investigation has not been completed yet,” it said, adding that the AGC continues to monitor and review the probe’s progress.
The AGC clarified that enforcement authorities had initially seized an estimated RM118.7 million in assets linked to i-Serve Online Mall and related companies on Nov 11, 2021 – and not RM7.1 billion as previously reported.
However, those assets were released in November 2023 after the court allowed the previous forfeiture order to lapse, it said.
On Nov 1, FMT reported that 15 investors who won an RM8 million fraud judgment against Goh had urged authorities to release frozen funds to recover their court-awarded losses.
Their lawyer, Sachpreetraj Singh Sohanpal, said the group had appealed to the police and Bank Negara Malaysia to release part of the RM118.7 million in frozen assets to satisfy the court order.
In September, the Kuala Lumpur High Court found Goh and four companies liable for fraud and ordered repayment to the 15 plaintiffs. Another 83 investors have filed a separate suit claiming collective losses of RM40 million. - FMT

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