Choo Hin Voon, 44, however, pleaded not guilty and claimed trial to all charges read out before judge Ahmad Kamar Jamaludin.

On the first to third counts, Choo was charged with concealing the sources of 100 gold bars as well as RM3.4 million and US$1.2 million in cash, allegedly the proceeds of illegal activities, which were seized by police during a raid on a house in Jalan Batu Nilam 25, Bandar Bukit Tinggi, Klang, Selangor, on April 14 and 19 last year.

He is alleged to have committed the offence between June 23 last year and April 7 this year.

He was charged under Subsection 4(1)(d) of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act, which carries a jail term of up to 15 years, and a fine of RM5 million or not less than five times the amount of the illegal proceeds, whichever is higher, upon conviction.

On the fourth count, Choo was charged with using a false note through a sworn statement with the intention to cheat in relation to the seized assets.

The offence under Section 89 of the same act carries a maximum fine of RM3 million, or a five-year jail term, if convicted.

The court allowed the accused bail of RM200,000 with one surety for all charges and set May 30 for re-mention.

Deputy public prosecutor Harris Ong Mohd Jeffery Ong prosecuted, while the accused was represented by Abdul Hakeem Aiman.