August 24, 2010 16:10 PM

http://www.bernama.com.my/bernama/v5/newsgeneral.php?id=523550

PUTRAJAYA, Aug 24 (Bernama) -- A former director of Malaysian Sea Best Sdn Bhd pleaded not guilty in the Sessions Court here today to 62 counts of money laundering, involving RM34 million.

Gazali Rashid, 50, is charged with using the money, from ill-gotten gains, to make payments of between RM318 and RM13 million to several companies, himself and other individuals between March 2006 and January 2007.

He is charged with committing the offences at Malayan Banking Berhad, No. 3, Jalan Pasar 2, Semenyih, Kajang.

The offence, under subsection 4 (1)(a) of the Anti-Money Laundering and Anti-Terrorism Financing Act 2001, carries a fine of up to RM5 million or maximum of five years' jail, if found guilty.

Deputy public prosecutor Mohd Hafiq Razali requested that bail be set at RM300,000 and all the charges be transferred to the Kuala Lumpur Sessions Court to be heard jointly with another case in which Gazali was charged with cheating a USA HSBC bank of euro10 million (about RM40 million).

Judge Susana Hussin allowed the case to be transferred to the Kuala Lumpur Sessions Court and set Sept 23 for mention.

On July 5 this year, Gazali and a former senior manager of Majuikan Sdn Bhd, which is a subsidiary of the Malaysian Fisheries Development Authority, Mohd Khairuddin Abu Bakar, 53, pleaded not guilty in the Kuala Lumpur Sessions Court to cheating the USA HSBC.

They are jointly charged with intentionally collaborating to cheat HSBC Bank USA vice-president, Stephen Ferrera, National Association 10 East 40th. Street, New York USA, by dishonestly inducing him to believe that Majuikan Sdn Bhd had agreed to be the guarantor for a loan of 10 million Euro by Malaysian Sea Best Sdn Bhd.

The act had prompted HSBC Bank USA to make payment of 10 million Euro to Malaysian Sea Best Sdn Bhd.