KUALA LUMPUR (Nov 3): Grant Thornton Malaysia's managing partner Datuk C R Narendrakumar was brought to the Sessions Court here on Thursday and charged with money laundering involving RM115 million, allegedly committed four years ago.
Narendrakumar, 72, pleaded not guilty to the charge before judge M Bakri Abd Majid.
Narendrakumar was charged, as the receiver and manager appointed by Grant Thornton Consulting Sdn Bhd to represent Sabah Forest Industries, to have transferred RM115 million, believed to be proceeds from unlawful activities, through 12 online transactions from a CIMB Bank Berhad current account belonging to Sabah Forest Industries into a CIMB Islamic Bank Berhad fixed deposit account of the same company.
He was charged with committing the offence at CIMB Bank Berhad, Jalan Tuanku Abdul Rahman branch here, on Feb 5, 2018.
The charge, framed under Section 4 (1) (b) of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001, provides imprisonment for up to 15 years and fine of not less than five times of proceeds from the unlawful activities, or RM5 million, whichever is higher, if found guilty.
The court allowed him bail of RM350,000 with two sureties and set Jan 5 next year for mention for submission of documents.
Deputy public prosecutor Noor Zalizan Lazarous prosecuted, while lawyer AG Kalidas represented Narendrakumar.
Last Sept 14, Narendrakumar, in his capacity as a manager and receiver at Sabah Forest Industries Sdn Bhd, was charged with eight counts of breach of trust amounting to RM2.38 million involving funds belonging to Pelangi Prestasi Sdn Bhd.