PIPS Update: Bail reduced for Marsdens as more charges pile up
October 31, 2006
Malaysia’s The New Straits Times reported on October 11 that Bryan Marsden and his wife Phan Sew Ken of the now infamous PIPS scam program had their bail reduced by the trial court, but the day did not end well for the two as additional charges of money laundering were filed against them that same day.
Here’s a copy of the news report from the Malaysian newspaper (online link now inaccessible):
Dirty money accused faces 7 more charges
SEREMBAN: A British national and his Malaysian wife, facing 97 counts of money laundering amounting to RM77 million, had their bail reduced by RM100,000 on appeal yesterday.
After hearing arguments from the prosecution and defence counsel, Sessions Court judge Allaudeen Ismail allowed the two — Bryan John Marsden and Phan Sew Ken — bail of RM400,000 instead of RM500,000 imposed when they were first charged on Aug 30.
Marsden, 58, had appealed for his bail to be reduced to RM100,000 and Phan, 50, asked the court to set hers at RM50,000.
They were each charged at the Sessions Court here with 41 counts of collecting funds, totalling RM26.7 million, from illegal online activities.
Later, Marsden was taken to the Kuala Lumpur Sessions Court to face seven more charges involving funds totalling RM7 million. All the offences were allegedly committed between Aug 12, 2003 and Jan 4, 2005.
These offences, under Section 4(1) of the Anti-Money Laundering Act 2001, are punishable by a fine of up to RM5 million, or a maximum of five years’ jail, or both, on each count.
On Sept 19, they were back at the Sessions Court here to face another six charges of accepting a total of RM11.78 million.
The couple allegedly committed the offences between Jan 4 and June 14 last year at the EON Bank in Taman Semarak, Nilai, near here.
Allaudeen fixed Nov 24 for re-mention of the case.
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