The MACC gets to forfeit the RM1.5 million seized from MonSpace (M) Sdn Bhd director Datuk Seri Jessy Lai Chai Suang…

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Court allows MACC to forfeit RM1.5mil from MonSpace director

FMT Reporters -February 24, 2021 4:14 PM

KUALA LUMPUR: The High Court here has allowed the Malaysian Anti-Corruption Commission (MACC) to forfeit RM1.5 million from MonSpace (M) Sdn Bhd director Jessy Lai Chai Suang, believed to be proceeds from unlawful activities.

Deputy public prosecutor Allan Suman Pillai said judicial commissioner Aslam Zainuddin allowed the application as none, including Lai, came forward to make third-party claims.

Last year, MACC froze the accounts of the company under the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 (AMLATFPUAA).

It subsequently filed an application to forfeit the money.
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Reports had said Lai was the founder and chief executive officer of direct selling firm MonSpace.

It was reported on July 25, 2018, that 16 of MonSpace’s premises in Ipoh and the Klang Valley were raided a day earlier following investigations by the authorities.

The investigations were conducted under the Direct Sales and Anti-Pyramid Scheme Act 1993 and AMLATFPUAA.

https://www.freemalaysiatoday.com/category/nation/2021/02/24/court-allows-macc-to-forfeit-rm1-5mil-from-monspace-director/

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MACC wins bid to forfeit RM1.5 mil seized from MonSpace director

Datuk Seri Jessy Lai Chai Suang has not claimed the sum, nor has anyone else

Updated 7 minutes ago · Published on 24 Feb 2021 9:45PM ·

KUALA LUMPUR – The high court today allowed an application by the Malaysian Anti-Corruption Commission to forfeit RM1.5 million seized from MonSpace (M) Sdn Bhd director Datuk Seri Jessy Lai Chai Suang.

The forfeiture application was made under the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001.

MACC deputy public prosecutor Allan Suman Pillai said judicial commissioner Datuk Aslam Zainuddin allowed the application on the grounds that no third party, including Lai, claimed the sum.

“The court allowed the forfeiture because no one made a claim under Section 28E of the act,” he told Bernama.

Lawyer Nian Cean represented Lai in today’s proceedings.

On July 25, 2018, it was reported that 16 MonSpace premises in Ipoh and the Klang Valley were raided by the authorities following an investigation into an allegedly illegal investment scheme. – Bernama, February 24, 2021

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Monspace founder believes investigations into company will clear its name


By JUSTIN ZACK

Friday, 27 Jul 20188:51 AM MYT

KUALA LUMPUR: E-commerce company Monspace Multinational Corporation will fully cooperate with authorities, with founder and chief executive officer Datuk Seri Jessy Lai (pic) saying the investigation will prove the company’s legitimacy.

“We welcome the investigations. I am confident that it will show that we are clean,” she said in a press conference Friday (July 27) at their Bukit Jalil office here.

Lai also claimed that there had been false reports online – without specifying what they were – which exaggerated the situation and she was considering legal action pending advice from her lawyers.

Speaking about certain accounts that had been frozen by authorities, Lai said 15 out of the 72 bank accounts were directly linked to the business.

Regarding her travel ban, Lai said that she would comply with the instruction.

“Regardless if I’m blocked or not, I have to stay in Malaysia because I need to help my staff during the course of the investigation,” she said.

On Wednesday, Domestic Trade and Consumer Affairs enforcement director Datuk Roslan Mahayudin said that they had raided a multiple Monspace offices.

The operation, dubbed Ops Coin, saw raids on 16 premises linked to the company for allegedly running an illegal investment or “money games” scheme.

Authorities also froze 72 accounts with funds amounting to about RM5mil.

https://www.thestar.com.my/news/nation/2018/07/27/monspace-founder-believes-investigations-into-company-will-clear-its-name/

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