GEORGE TOWN: A large group of investors and supporters of Genneva Malaysia Sdn Bhd, the gold investment company now being investigated by Bank Negara, handed over a memorandum to Datuk Seri Najib Tun Razak during his walkabout at the Bayan Baru market, near here.
Source from (The Star Online): http://thestar.com.my/news/story.asp?file=/2012/12/9/nation/12435826&sec=nation
Published: December 09, 2012
The three-page memorandum urged the Prime Minister to formalise gold trading guidelines for the country and, additionally, to lift the freeze on Genneva’s accounts and gold.
The company’s assets were reportedly frozen in October to facilitate investigations into suspected offences, including illegal deposit taking, money laundering and tax evasion.
Penang holds one of the company’s largest offices outside Kuala Lumpur.
A spokesman of the group, who wanted to be known only as Abdul Wahab, 40, said the freeze order on the company’s accounts had victimised tens of thousands of investors who had put their money in Genneva’s investment scheme.
“Some are going bankrupt and have to sell their belongings. The company’s consultants have also not been paid over the last three months,” he said, after the group handed over the memorandum to Najib.
In BUTTERWORTH, Chief Minister Lim Guan Eng said the Federal Government and Bank Negara should provide a clearer picture with regards to the Genneva gold investment issue.
Investors are still in the dark over the issue, he said after announcing free low-cost housing units for 103 families in Mak Mandin yesterday.
Lim said any overseas transaction of money valued over RM100,000 needed to be declared to the central bank first, adding that a similar approach should be used in the gold trade.
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