Friday 29 Mar 2024
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KUALA LUMPUR (Nov 4): Tax and accountancy firm Grant Thornton Malaysia PLT has come out to defend its managing director Datuk Narendrakumar Chunilai (NK Jasani), who was slapped with money laundering charges involving RM115 million belonging to Sabah Forest Industries Sdn Bhd (SFI).

NK Jasani was charged in the Sessions Court here on Thursday (Nov 3), in his capacity as receiver and manager (R&M) of SFI, for purportedly transferring RM115 million of allegedly illegal proceeds from SFI’s CIMB current account to the company’s CIMB interest-bearing fixed deposit account in February 2018.

In a statement on Friday (Nov 4), Grant Thornton Malaysia said that NK Jasani will be defending the charges “vigorously” and noted that he has always acted in the best interests of SFI and the company’s creditors, in the usual course of a R&M’s duty.

“Grant Thornton Malaysia support and stand by the actions of [NK Jasani] in his capacity as R&M of SFI,” the firm said.

Meanwhile, Grant Thornton Malaysia assured that the firm’s services and operations are unaffected by the matter and are running as usual.

The charges levelled against NK Jasani are framed under Section 4(1)(b) of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 (AMLA).

The RM115 million involved in the charges are part of a RM120 million deposit Pelangi Prestasi Sdn Bhd, a company owned by tycoon Tan Sri Syed Mokhtar Albukhary, paid SFI for the purchase of SFI’s assets for RM1.2 billion.

“The sale of SFI’s assets and the treatment of the deposit paid are matters that have been and are still pending legal proceedings before the civil courts,” Grant Thornton Malaysia explained.

It was reported on Thursday that the purportedly illegal funds were transferred from the two SFI CIMB accounts via 12 online transactions.

If found guilty, NK Jasani could face up to 15 years in jail and a fine of not less than five times the proceeds from the unlawful activities — or RM5 million, whichever is higher.

The Sessions Court allowed him bail of RM350,000 with two sureties and fixed Jan 5, 2023, for mention for the submission of documents.

In a separate matter involving SFI, NK Jasani was charged on Sept 14 with eight counts of criminal breach of trust (CBT) amounting to RM2.83 million, in his capacity as R&M of SFI.

Grant Thornton Malaysia also disagreed with these charges and noted that it will vigorously defend NK Jasani with facts and evidence, adding that NK Jasani had carried out his duties with the “highest professional standards”.

Edited ByLam Jian Wyn
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