Narendrakumar, 72, pleaded not guilty to the charge before judge M Bakri Abd Majid.

Narendrakumar was charged as the “receiver and manager” appointed by Grant Thornton Consulting Sdn Bhd to represent Sabah Forest Industries.

He was alleged to have transferred RM115 million, believed to be proceeds from unlawful activities, through 12 online transactions from a CIMB Bank Bhd current account belonging to Sabah Forest Industries. The money was alleged to have been transferred into a CIMB Islamic Bank Bhd fixed deposit account of the same company.

He was charged with committing the offence at the CIMB Bank Bhd’s Jalan Tuanku Abdul Rahman branch here on Feb 5, 2018.

The charge, framed under Section 4 (1) (b) of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001, provides for imprisonment of up to 15 years and a fine of not less than five times the proceeds from the unlawful activities or RM5 million, whichever is higher, if found guilty.

The court allowed him bail of RM350,000 in two sureties and set Jan 5 next year for mention and submission of documents.

Deputy public prosecutor Noor Zalizan Lazarous prosecuted while lawyer A G Kalidas represented Narendrakumar.