KUALA LUMPUR, Jan 23 — The High Court has granted the public prosecutor's forfeiture application against Havana Bayview Sdn Bhd and Ricky Wong Shee Kai, ordering the forfeiture of a luxury condominium and RM445,039.28 held in Wong's fixed deposit account.
The Securities Commission Malaysia (SC) said Judge Datuk Azhar Abdul Hamid granted the forfeiture order yesterday, for both the Four Seasons Place condominium and the cash.
The property, located at No. 145 Jalan Ampang, is owned by Havana Bayview, where Wong served as a director and major shareholder.
The judge further granted the respondents a stay of execution on the decision, pending a formal stay application.
“The SC made the Forfeiture Application on behalf of the public prosecutor. The Forfeiture Application pertains to proceeds raised by Bright Packaging Industry Berhad (BPI) through its corporate exercises conducted between October 2013 and July 2014.
“The SC’s investigation revealed that proceeds amounting to RM56,074,500 were siphoned out of BPI and a portion thereof was used as part payment for purchasing the condominium.
“The RM445,039.28 sum was interest generated from a portion of the proceeds that were placed into Wong’s fixed deposit account,” it said in a statement today.
In May 2021, the SC commenced the Forfeiture Application, under Section 56 of the Anti-Money Laundering, Anti-Terrorism Financing, and Proceeds of Unlawful Activities Act (AMLATFPUAA) 2001, upon obtaining the public prosecutor’s consent.
The matter was heard before Judge Azhar on September 2 last year.
The SC has previously initiated other enforcement against Wong, including a civil suit in May 2020 against Wong, Teh Sew Wan, and Wong SK Holdings Sdn Bhd for securities fraud offences under Section 179 of the Capital Markets and Services Act 2007.
The SC is also seeking public assistance to locate Wong, who is currently wanted for offences under AMLATFPUAA 2001.
— Bernama
