Court Sets Oct 3 to Decide on Representations in RM38.1m GISBH Money Laundering Case

SHAH ALAM, July 30 — The Sessions Court today fixed Oct 3 to decide on representations submitted by former GISB Holdings Sdn Bhd (GISBH) chief executive officer Nasiruddin Mohd Ali and three former company accountants in connection with 331 money laundering charges amounting to over RM38.1 million.

Sessions Court Judge Fatimah Zahari set the decision date after deputy public prosecutor Muhamad Ehsan Nasarudin informed the court that the prosecution had recently received an additional representation from the defence team and required approximately one month to review its contents.

The four accused facing joint money laundering proceedings are Nasiruddin, 67, who faces 77 charges involving over RM10 million; Hamimah Yakub, 74, who faces 95 charges involving RM11.4 million; Asmat @ Asmanira Muhammad Ramly, 46, facing 68 charges involving RM4.7 million; and Mohd Khushairi Osman, 55, who faces 91 charges involving nearly RM12 million.

Defence counsel Muhammad Zaim Rosli appeared for Nasiruddin, Asmat, and Mohd Khushairi, while also holding a watching brief for counsel Kamal Hisham, who represents Hamimah. Muhammad Zaim did not disclose the contents of the additional representation submitted to the prosecution.

On Sept 10, 2025, Nasiruddin and the three former accountants pleaded not guilty in the Shah Alam Sessions Court to all 331 money laundering charges.

The alleged offences were committed between 2020 and 2024 across various commercial bank branches in Selangor. The charges relate to financial transactions directed to several parties, including corporate accounts belonging to GISBH Sdn Bhd, GISB Mart Sdn Bhd, GISB Travel and Tours Sdn Bhd, as well as a childcare centre company.

All four individuals were charged under Section 4(1)(b) of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 (AMLATFPUAA), which is punishable under Section 4(1) of the same Act.

Upon conviction, the offence carries a maximum penalty of up to 15 years’ imprisonment and a fine of not less than five times the sum or value of the illegal proceeds at the time the offence was committed, or RM5 million, whichever is higher.

-NMT