Thursday, 6 December 2012

Help for Genneva investors

Umno Youth has offered free legal assistance to the customers of gold investment company Genneva Malaysia Sdn Bhd.

Its public complaints bureau chief Datuk Khairun Aseh urged investors to come to their office to enable them to initiate legal action against the company.

“We are willing to help those who are worried about their investments and hope to get back their money through court action,” he said after a meeting with Bank Negara Malaysia's special investigation unit yesterday.

According to the central bank, more than 8,000 Genneva customers had yet to receive their gold amounting to over 4,000kg despite making payments.

Genneva was raided by Bank Negara, the police, Domestic Trade, Cooperatives and Consumerism Ministry and the Companies Commission of Malaysia on Oct 2.

Three days later, the authorities conducted raids on the premises of Pageantry Gold Bhd, Caesar Gold Sdn Bhd and Worldwide Far East Bhd on suspicion of illegal deposit-taking, money-laundering, tax evasion and avoidance and false description.

“I believe strongly that we must come up with a real solution to help them get back their money. We hope the authorities will take strong action against the perpetrators,” Khairun said.

The complaints he received came from two groups those who had paid the company but did not get any gold while the other group involved those who had surrendered their gold but did not get any money back.

Meanwhile, Penang Chief Minister Lim Guan Eng said the authorities should conduct checks on political leaders who attended Genneva's launch. He said their presence had boosted the confidence of the public who subsequently invested in the company.


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