SC Charges Former Director, CEO for Over RM119 Mln in Money Laundering


Kuala Lumpur, 10 January 2024

The Securities Commission Malaysia (SC) today charged two individuals in the Kuala Lumpur Sessions Court with 11 offences of money laundering involving over RM119 million.

The two individuals are Ang Jen Chuen (Dexter Ang), former director of Pixelvest Sdn Bhd (Pixelvest) and Syaiful Riezal bin Ahmad (Syaiful Riezal), former Chief Executive Officer of Infinity Trustee Berhad (Infinity).

They were charged with receiving proceeds of unlawful activity under section 4(1)(b) of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities 2001 (AMLATFPUAA).

Dexter Ang and Syaiful Riezal faced eight and three charges respectively.

The alleged money laundering offences took place between 1 December 2020 and 9 January 2023 in Kuala Lumpur and Selangor.

The individuals claimed trial to their respective charges. Sessions Court judge Tuan Azrul bin Darus granted bail at RM8.01 million with two sureties to Dexter Ang and RM100,000 with one surety to Syaiful Riezal.

They were also ordered to surrender their passports to the court and to report to the SC on a monthly basis until the completion of the trial.

If convicted, these individuals shall be liable to imprisonment for up to 15 years and shall also be liable to a fine of not less than five times the sum or value of the proceeds of the unlawful activities at the time the offence was committed or RM5 million, whichever is higher.


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