159 Chinese Nationals Charged Over Alleged Cryptocurrency Investment Scam in Malaysia

A total of 159 Chinese nationals were charged in three separate Magistrates' Courts in Johor Bharu on Tuesday for allegedly being involved in a criminal conspiracy to carry out a fraudulent cryptocurrency investment scheme. The accused, aged between 20 and 58, gave mixed pleas after the charges were read out by Mandarin interpreters before Magistrates Atifah Hazimah Wahab, A. Shaarmini, and Nurzihan Abdul Rehman.

The alleged offence was said to be contrary to Section 417 of the Penal Code, read together with Section 511 of the same law. The accused also faced a separate charge of being non-Malaysian citizens without valid passes or permits issued under the law to enter the country.

The courts imposed fines ranging from RM4,000 to RM10,000 on those who pleaded guilty to both charges. For those who claimed trial, Magistrate Atifah Hazimah allowed bail of RM7,000 with two Malaysian sureties, while Magistrate Shaarmini did not grant bail.

The prosecution was led by Deputy Public Prosecutors Sarah Siti Aisyah Mustapha Kamal, Adilah Farzana Che Ad, Anis Shafeeqah Mohd Shariffudin, Nor Hidayah Mohd Tarmizi, and Nor Deana Aqilah Aliman.