Nicky Liow posts half of RM1 mil bail, is released from custody

SHAH ALAM – Businessman Nicky Liow Soon Hee was today released from custody after paying half of his RM1 million bail set by the sessions court here.

Liow’s lawyer Jay Moy Wei Jun told The Vibes the first tranche of RM500,000 was fully paid around 2.40pm this afternoon, with the accused released from custody shortly after.

“He was just released,” said Moy when contacted around 3pm, adding that the remaining RM500,000 will be paid in full by tomorrow.

Earlier today, Liow claimed trial to 26 charges of money laundering amounting to RM36 million.

He was brought to court to face the slew of charges after surrendering himself at the Bukit Aman Commercial Crimes Investigations Department yesterday evening.

He was charged today under Section 4(1)(a) of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 (Amlatfa).

Upon conviction, Section 4(1)(a) carries with it a fine of not less than five times the sum or value of the proceeds of unlawful activity or RM5 million, whichever is higher, and, or, imprisonment not exceeding 15 years, for each charge. – The Vibes, April 12, 2022