In a statement, SC said the charges against Sophia Chin were framed under Section 4(1)(b) of the Anti-Money Laundering, Terrorism Financing, and Proceeds of Unlawful Activities 2001 (Amla).

Chin claimed trial at two separate sessions courts in Kuala Lumpur and Selangor.

Both courts set bail at RM7 million and ordered her to surrender her passport and report regularly to the SC until the case is disposed of.

Chin is accused of receiving illicit funds in her personal bank accounts as well as in several companies of which she serves as a director or partner between Dec 23, 2020 and Oct 2, 2022.

These companies include Pinetree Field Sdn Bhd, SC Wealth Planners Sdn Bhd, Quarters Venture Sdn Bhd, New Straits Venture Sdn Bhd, and Quarters Capital PLT.

Anyone convicted of money laundering could face up to 15 years in prison and a minimum fine of either five times the proceeds from their unlawful activities or RM5 million, whichever is greater.

Yesterday, the SC charged two other individuals – a former Pixelvest director and a former CEO of Infinity Trustee Bhd – with 11 counts of laundering over RM119 million.

Dexter Ang (Pixelvest) and Syaiful Riezal Ahmad (Infinity) were charged with receiving proceeds from unlawful activities under Section 4(1)(b) of Amla.

Ang and Syaiful faced eight and three charges, respectively, for the alleged offences which took place between Dec 1, 2020, and Jan 9, 2023.

Both were ordered to surrender their passports and report to the SC regularly until the completion of their trials.