Tuesday, November 6, 2012

142.7kg Gold Seized From Four Companies Operating Illegal Gold Investment Schemes

KUALA LUMPUR, Nov 5 (Bernama) -- Bank Negara Malaysia in a joint statement Monday said 142.7kg of gold, money in bank accounts and cash amounting to RM101.92 million was seized by the authorities after raiding four companies, suspected to be operating illegal investment schemes, using gold.

Source from (Bernama): http://www.bernama.com/bernama/v6/newsgeneral.php?id=707203
Published: November 06, 2012

Bank Negara Malaysia in the joint statement with the Royal Malaysian Police, Ministry of Domestic Trade, Cooperative and Consumerism and Companies Commission of Malaysia said seized records revealed that a substantial number of investors had paid but yet to receive their delivery of gold, prior to the raids, whereby the period of non-delivery in some cases had exceeded five months.

The statement said the enforcement agencies are aware of the plights faced by affected investors and every effort was being made to determine the whereabouts of the money and assets of the companies.

As such, a dedicated team has been set up to track the movement of money and other assets of the companies and international accounting firms have also been appointed on a full time basis to assist investigations.

"The scope of investigation is international. In this connection, the enforcement agencies are actively collaborating with their foreign counterparts to obtain evidence in several other jurisdiction to assist investigations," the statement said.

-- BERNAMA

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