The Securities Commission Malaysia (SC) today charged Pixelvest Sdn Bhd (Pixelvest) Chin Wai Lan, better known as Sophia Chin, with 17 money laundering charges involving more than RM164.5 million.
In a statement today (Jan 11), the statutory body said Chin was charged under section 4(1)(b) of the Anti-Money Laundering, Terrorism Financing and Proceeds of Unlawful Activities 2001 (AMLATFPUAA) for receiving proceeds of unlawful activities.
“According to the charges, she received the illegal proceeds (amounting to about RM164.5 million) in her personal bank accounts as well as in several companies of which she is a director and partner.
“These companies include Pinetree Field Sdn Bhd, SC Wealth Planners Sdn Bhd, Quarters Venture Sdn Bhd, New Straits Venture Sdn Bhd and Quarters Capital PLT,” the statuary body said.
A total of sixth companies were said to be involved, according to reports, including Pixelvest Sdn Bhd.
SC said the alleged offences took place between Dec 23, 2020 and Oct 2, 2022 in Kuala Lumpur and Selangor.
Chin Wai Lan was charged before two separate Sessions Courts, where she pleaded not guilty and claimed trial to all 17 charges.
“Sessions Court Judge Datin Sabariah Othman granted bail at RM7 million with two sureties. She was ordered to surrender her passport to the court and to report to the SC on a monthly basis until the completion of the trial.
“(Meanwhile), in a separate court, Sessions Court Judge Tuan Azrul bin Darus also granted Sophia Chin bail at RM7 million with one surety. He also imposed similar conditions on the passport surrender and reporting to SC,” it added.
If she is found guilty, Chin shall be liable to imprisonment for up to 15 years and to a fine of not less than five times the sum or value of the proceeds of the unlawful activities at the time the offence was committed or RM5 million, whichever is higher.
The regulator said the charges against Sophia Chin are a continuation of the SC’s enforcement action relating to the same matter against two other individuals yesterday.
SC had charged Ang Jen Chuen (Dexter Ang), and Syaiful Riezal bin Ahmad (Syaiful Riezal) for similar offences under section 4(1)(b) of AMLATFPUAA on Jan 10, 2024.
