The Attorney General’s Chambers says Nicky Liow was discharged after paying a RM10 million compound, with 26 money laundering charges withdrawn in 2023.
PETALING JAYA: The Attorney General’s Chambers (AGC) today confirmed that businessman Nicky Liow Soon Hee paid a RM10 million compound in 2023, paving the way for prosecutors to withdraw 26 money laundering charges against him.
In a statement, the AGC said the decision was made after carefully considering representations submitted by Liow’s lawyers, Messrs Rajpal, Firah & Vishnu.
The representations, dated Dec 15, 2022, and April 6, 2023, sought to compound the 26 charges under Section 4 of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 (AMLA) pursuant to Section 92 of the same Act.
“After reviewing the representations and the available evidence, the AGC agreed to offer a RM10 million compound, which Liow accepted and paid on May 29, 2023.
“In addition to the RM10 million compound, the settlement included the forfeiture of a RM647,366 bond and seized assets.
“Following payment of the compound, the prosecution withdrew all 26 charges against Liow in accordance with Section 92,” it said.
The AGC also said the Shah Alam Sessions Court subsequently ordered Liow to be discharged and acquitted of all charges on June 15, 2023.
Responding to criticism over the decision to discontinue the prosecution, the AGC maintained that Liow was not released without due legal process.
It said the charges, which were filed on April 12, 2022, had already been fixed for trial between July and September 2023 before the representations were considered.
“The decision was made in accordance with the Attorney General’s constitutional powers and prosecutorial discretion, based on the overall evidence gathered during the investigation, and without being influenced by external pressure or public sentiment,” it said.
On Wednesday, a group of civil society organisations called on the AGC to publicly disclose the basis, considerations and timeline behind the decision to discontinue the prosecution against Liow.
The groups said the AGC had, for more than three years, failed to explain why the representations were accepted, what factors informed the decision, or whether the charges would ever be reinstated.
“The public is entitled to know why a RM36 million money laundering prosecution was discontinued, rather than learning of it years later through a defence press conference,” the groups said.
