by RUPINDER SINGH / pic TMR FILE

THE Securities Commission Malaysia (SC) has officially charged Sophia Chin, the director of Pixelvest Sdn Bhd, with money laundering offences totaling over RM164.5 million.

Chin faces a total of 17 charges under section 4(1)(b) of the Anti-Money Laundering, Terrorism Financing and Proceeds of Unlawful Activities 2001 (AMLATFPUAA) for receiving proceeds from unlawful activities.

According to the charges, Chin received these illegal proceeds in her personal bank accounts and in various companies where she holds directorship or partnership roles.

Notable among these companies are Pinetree Field Sdn Bhd, SC Wealth Planners Sdn Bhd, Quarters Venture Sdn Bhd, New Straits Venture Sdn Bhd, and Quarters Capital PLT.

The alleged offences occurred between December 23, 2020, and October 2, 2022, in Kuala Lumpur and Selangor.

Chin pleaded not guilty to all 17 charges in two separate courts.

Sessions Court Judge Datin Sabariah Othman granted bail at RM7 million with two sureties.

Additionally, Chin is required to surrender her passport to the court and report to the SC on a monthly basis until the trial concludes.

In a separate court, Sessions Court Judge Tuan Azrul bin Darus also granted bail to Chin at RM7 million with one surety, imposing similar conditions regarding passport surrender and reporting to the SC.

If convicted, Chin could face imprisonment for up to 15 years and 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.

These charges against Chin are part of the SC’s ongoing enforcement action related to the same matter.

The SC previously charged Ang Jen Chuen (Dexter Ang) and Syaiful Riezal bin Ahmad (Syaiful Riezal) on January 10, 2024, for similar offences under section 4(1)(b) of AMLATFPUAA.