Published: October 11, 2012
KUALA LUMPUR, Oct 10 – The recent raids on companies suspected
of operating illegal investment schemes using gold were conducted in the
interest of protecting investors as well as the public at large from
falling victims to the illegal schemes.
In a joint statement today, the Attorney General’s Chambers, the Royal Malaysia Police and Bank Negara Malaysia said based on surveillance and examination conducted on these companies, it has been discovered that these companies are operating schemes that are believed to be not sustainable to provide the promised high monthly returns, nor would they be able to provide the buy-back guarantee of gold.
“Such schemes are not sustainable because the returns promised are not funded through gold trading, but from the monies invested into such schemes.
“The investigations have also revealed that the amount of assets and monies held by these companies do not commensurate with the amount collected from their investors,” the agencies said.
The statement added that prior to the joint raids, it has been noticed that these companies have delayed in returning gold or money to the investors within the stipulated time as promised.
Such signs are early warning indications prior to the collapse of such schemes that would result in significant losses to investors, they said. – Bernama
In a joint statement today, the Attorney General’s Chambers, the Royal Malaysia Police and Bank Negara Malaysia said based on surveillance and examination conducted on these companies, it has been discovered that these companies are operating schemes that are believed to be not sustainable to provide the promised high monthly returns, nor would they be able to provide the buy-back guarantee of gold.
“Such schemes are not sustainable because the returns promised are not funded through gold trading, but from the monies invested into such schemes.
“The investigations have also revealed that the amount of assets and monies held by these companies do not commensurate with the amount collected from their investors,” the agencies said.
The statement added that prior to the joint raids, it has been noticed that these companies have delayed in returning gold or money to the investors within the stipulated time as promised.
Such signs are early warning indications prior to the collapse of such schemes that would result in significant losses to investors, they said. – Bernama
No comments:
Post a Comment