Malaysian Police Continue Investigation into Possible MYAirline Money Laundering Links

Malaysian authorities are persistently investigating potential links between MYAirline (MYM) and a scandal-ridden e-commerce company, focusing on MYAirline’s founder and shareholder, Goh Hwan Hu. The low-cost carrier (LCC) abruptly suspended all flights in October 2023, leading to intensified scrutiny.

Seri Ramli Mohamed Yoosuf from the Royal Malaysian Police’s Commercial Crimes Investigation Department revealed that ongoing investigations seek to establish the funding sources for MYAirline and ensure they are free from any illicit activities. Goh, a significant shareholder and the alleged “controlling mind” of i-Serve Online Mall Sdn Bhd (ISOM), faces renewed attention due to his connections to MYAirline and the previous raid on ISOM’s offices.

The police raided ISOM’s offices in late 2021 over allegations of money laundering and unlicensed acceptance of deposits. Goh’s ties to both MYAirline and ISOM raise concerns about potential financial irregularities. Malaysian authorities are meticulously examining the paper trail of investments involving these entities, acknowledging the complexity of the task.

Goh, along with his wife and adult son, was briefly taken into custody for questioning in connection with MYAirline’s suspension. While no charges were filed, the trio remains under scrutiny. MYAirline declined to comment on the ongoing police investigation but mentioned that the airline is engaged in advanced discussions with potential investors for a possible restart. The investigation into MYAirline is part of broader efforts to ensure financial transparency and compliance with money laundering regulations.