POLICE are investigating if i-Serve Online Mall Sdn Bhd could have been used for money-laundering to fund the financially strapped MYAirline, Utusan Malaysia reported.  

Commercial Crimes Investigation Department director Ramli Mohamed Yoosuf said the suspect is believed to have conspired with the main mastermind in the i-Serve business since 2018. 

“Investigations are now focused on examining transaction documents involving i-Serve’s business.

“We are conducting further investigations and do not rule out the possibility of making more arrests in the near future,” he was quoted as saying.

Police have opened a probe into MYAirline after it suddenly suspended operations on October 12, citing financial problems. 

It left thousands of flight passengers stranded. 

The budget carrier said it would compensate passengers after it had secured new investors. It said refunds could come up to RM22 million. 

Four people, including MYAirline co-founder Goh Hwan Hua and his family, were arrested to aid in police investigations.

Goh, his 55-year-old wife and 26-year-old son have since been released.  

Ramli said police have frozen Goh’s 15 bank accounts with about RM5 million, on top of confiscating several documents and goods he owned.

The nearly RM5 million in the accounts is believed to be linked to money-laundering. 

He also urged i-Serve investors to file police reports on their individual investment amounts to facilitate comprehensive investigations against i-Serve, QA Partnership, Trillion Cove and MYAirline. 

“This report is important to assist further police investigations,” he was quoted as saying. 

Ramli also said police are looking into other offences being committed by MYAirline, such as the abuse of investor funds, The Star reported today.

“It’s not just money-laundering. We are also looking at other crimes such as abusing funds from investors. 

“We are looking at the crimes and offences that could have been committed in the span of two years or more (of its operations).

“It will take time, but investigators are hard at work, poring through transactions involving several companies, including i-Serve and MYAirline,” he was quoted as saying by The Star.

Ramli added that 12 vehicles from two suspects, documents related to i-Serve Technology and Vacation Sdn Bhd, six luxury watches, eight luxury handbags, two laptops, one CPU and 10 pieces of jewellery have been confiscated. – October 25, 2023.