AGC rejects bid to drop 331 money laundering charges against former GISBH executives

SHAH ALAM: The Attorney-General's Chambers (AGC) has rejected an attempt by a former chief executive of GISB Holdings Sdn Bhd (GISBH) and three former company accountants to have 331 money laundering charges, involving more than RM38.1 million, dropped, clearing the way for a trial scheduled for next year.

The decision was disclosed during case-management proceedings before Sessions Court Judge Datin Fatimah Zahari in Shah Alam.

Deputy Public Prosecutor Mohd Ashrof Adrin Kamarul told the court that the prosecution intended to proceed with the case and expected to call between 15 and 20 witnesses.

Charges against the four accused

The former chief executive, Nasiruddin Mohd Ali, 67, faces 77 charges involving more than RM10.08 million.

Three former GISBH accountants are also charged: Hamimah Yakub, 74, faces 95 counts involving more than RM11.42 million; Mohd Khushairi Osman, 55, faces 91 counts involving more than RM11.95 million; and Asmat @ Asmanira Muhammad Ramly, 46, faces 68 counts involving more than RM4.68 million.

The charges were brought under Section 4(1)(b) of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001.

A conviction can carry a prison term of up to 15 years and a fine of at least five times the value of the proceeds involved, or RM5 million, whichever is higher.

Defence to file fresh representation

The rejection, however, does not necessarily end efforts by the defence to resolve the case without a full trial.

Datuk Rosli Kamaruddin, a lawyer representing the defendants, told the court that the defence planned to submit another representation to the AGC in November, including a request for the authorities to consider a compound settlement.

The court set Jan 26, 2027, for an update on that representation.

Trial dates have meanwhile been scheduled for April 26 to 28, June 28 to 30, and July 6 to 8, 2027.

In a separate matter during the same proceeding, the court temporarily released Nasiruddin's passport to allow him to travel to Mecca in connection with his wife's planned surgery. The passport must be returned to the court by Nov 10, 2026.

The case now moves closer to trial after the hundreds of charges against the four former GISBH officials were consolidated to be heard before the same judge.