Grant Thornton Former Country Managing Partner Dato’ Narendrakumar A/L Chunilal (Dato N.K. Jasani) was charged with money laundering under Section 4(1)(b) of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 (AMLA) on Thursday (Nov 3).
Dato’ N.K. Jasani was alleged to have committed the offence as Receiver and Manager (R&M) of Sabah Forest Industries (SFI) by transferring RM115 million, allegedly proceeds from illegal activities, from SFI’s CIMB Current Account to SFI’s CIMB interest-bearing Fixed Deposit account in February 2018.
The RM115 million comprise part of the RM120 million deposit paid by Pelangi Prestasi for the purchase of SFI assets for RM1.2 billion. The sale of SFI assets and the treatment of the deposit paid are matters that have been and are still pending legal proceedings before the civil courts.
In a statement issued by Grant Thornton Malaysia today (Nov 4) the firm stated that Dato N.K. Jasani will be defending the charges vigorously as he has always acted in the best interest of SFI for which he is the R&M, and in the best interest of SFI’s creditors, in the usual course of a R&M’s duty.
Grant Thornton Malaysia support and stands by the actions of Dato N.K. Jasani in his capacity as R&M of SFI.
The firm assures its clients that all services and operations of Grant Thornton Malaysia are unaffected and running as usual to provide its best professional services to them.
It was reported on Sept 14 that Jasani was charged before two separate Sessions Court judges with CBT amounting to RM2.38 million.
He was alleged to have committed the crime in his capacity as a manager and receiver of SFI over deposits belonging to Pelangi Prestasi Sdn Bhd.
Pelangi Prestasi is a firm owned by tycoon Tan Sri Syed Mokhtar Albukhary vying to take over SFI.
Jasani pleaded not guilty to all charges and claimed trial.
All charges are punishable under Section 409 of the Penal Code. If found guilty, he faces between two and 20 years in prison, whipping and a fine.
A total of five charges were read before Sessions Court judge Bakri Abd Majid — two charges for offences committed in July and September 2020, and three charges for offences committed in February, March and May 2020.
Deputy public prosecutor Zulaaikha Mohd Apandi did not offer bail, as this is a non-bailable offence, but left it to the court’s discretion. She suggested RM100,000 for the first two charges, and another RM100,000 for the other three charges.
AG Kalidas, who represented Jasani, asked for lower bail, as his client is a 72-year-old with health issues.
He said that his client is also not a flight risk, and pointed out that Jasani was a managing director of an international audit and consultancy firm.
Bakri set total bail of RM60,000 with one surety, and for Jasani’s passport to be surrendered to the court.
Jasani was then charged before Sessions Court judge Datin Sabariah Othman with three similar offences allegedly committed in November and December 2019, and January 2020.
Sabariah set bail of RM50,000 with one surety, and for Jasani’s passport to be surrendered to the court.
