Father and daughter slapped with RM6.45mil fine, jail time for money laundering
Police officers escort Shamsudin Mahadi (left) and his daughter Shafila Shamsudin at the Kota Tinggi Sessions court.
KOTA TINGGI: A company director and his daughter were slapped with fines totalling RM6.45mil and jail time by the Sessions Court here after they were found guilty of 27 counts of illegal deposit-taking and money laundering.
Shamsudin Mahadi, 49, was sentenced to 39 years of jail in total, but was ordered to serve the terms concurrently, which is equivalent to five years, while his daughter Shafila Shamsudin, 26, was jailed for two years, both starting Monday.
The duo, who are Dencomm Sales and Serviced Sdn Bhd directors, were found guilty of the offences committed between 2002 and 2010.
Shamsudin was fined RM5.45mil while his daughter was fined RM1mil for the offences.
Sessions judge Salawati Djambari convicted the duo from Tanjung Setajam, Pengerang on the grounds that Shamsudin and Shafila's defence had failed to raise reasonable doubt against the prosecutor's case.
Salawati granted the due a stay of execution on all the sentences pending the appeal and granted Shamsudin bail of RM60,000 and RM30,000 for Shafila.
The duo were first charged in 2011 where they claimed trial to taking deposits from the public without a licence and authorisation from any bank or financial institution.
Shamsudin was also accused of committing money laundering when he paid RM660,000 for two single-storey bungalows at Jalan Impian 2/2 in Taman Impian 2 in Simpang Renggam.
They are charged with offences under the Banking and Financial Institutions Act and the Anti-Money Laundering and Anti-Terrorism Financing Act.
Bank Negara officer Fahmi Abd Moin and DPP Mohd Farez Rahman prosecuted while the accused were represented by George Bernard.
THE STAR
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