PETALING JAYA: The Attorney-General’s Chambers (AGC) has clarified that businessman Nicky Liow’s 26 money laundering charges were withdrawn in 2023 after he paid a RM10 million compound.
The AGC said Liow, through his lawyers Messrs Rajpal, Firah & Vishnu, submitted representations dated Dec 15, 2022 and April 6, 2023, seeking to compound all 26 charges under Section 92 of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001.
“Based on the totality of available evidence and the prosecution’s assessment, this department agreed to offer a compound of RM10,000,000. Liow agreed and paid this sum on May 29, 2023.
“The settlement also included forfeiture of RM647,366 in bonds and forfeiture of seized assets,” it said in a statement responding to 30 civil society organisations asking why Liow was granted a discharge not amounting to an acquittal (DNAA).
In April 2022, Liow was charged in the Shah Alam sessions court with 26 counts of money laundering totalling RM36 million.
He went into in hiding for a year between 2021 and 2022 after police launched a crackdown on his alleged gang over claims that it was involved in “Macau scam” activities.
While in hiding, he was charged in absentia with being a member of an organised crime group, and was later granted the DNAA.
“This department wishes to stress that Liow was never released at any point without legal action being taken,” the AGC said, adding that the case was scheduled for trial over four separate blocks of dates between July and September 2023.
The AGC also said the decision was made in line with the attorney-general’s constitutional powers and discretion, “without being influenced by external pressure or public sentiment”.
