Just found these interesting details from Bank Negara about various gold deposit taking/investment related companies.
The courts will decide the fate of these 3 gold & deposit taking related companies: The Gold Label Sdn Bhd, Genneva Sdn Bhd & Bestino Group Berhad in a series of on-going investigation and pending court appearances in this 2-3 months.
| Companies/ Individuals | Date | Activities | Status | Related Press releases |
| The Gold Label Sdn Bhd | 7 May 2010 | - Bank Negara Malaysia has commenced investigations into The Gold Label Sdn Bhd under Section 25(1) Banking and Financial Institutions Act 1989 (BAFIA) and Section 4(1) of Anti-Money Laundering and Anti-Terrorism Financing Act 2001 (AMLATFA).
- The raid on The Gold Label Sdn Bhd was conducted yesterday at its premises in Northpoint Offices, Tower A Mid Valley City, Kuala Lumpur following complaints received from members of the public. Relevant assets and documents of the company were seized for purpose of investigation.
| Ongoing Investigation | Bank Negara Malaysia Investigates The Gold Label Sdn Bhd
|
| 3 August 2011 | - Bank Negara Malaysia has completed investigation under AMLATFA and filed for civil forfeiture under S.56(1) of AMLATFA at the Kuala Lumpur High Court.
| |
| 10 August 2011 | - The High Court has set the hearing date on 21 October 2011
| |
| 7 May 2010 | - Bank Negara Malaysia has commenced investigations into The Gold Label Sdn Bhd under Section 25(1) Banking and Financial Institutions Act 1989 (BAFIA) and Section 4(1) of Anti-Money Laundering and Anti-Terrorism Financing Act 2001 (AMLATFA).
- The raid on The Gold Label Sdn Bhd was conducted yesterday at its premises in Northpoint Offices, Tower A Mid Valley City, Kuala Lumpur following complaints received from members of the public. Relevant assets and documents of the company were seized for purpose of investigation.
| Ongoing Investigation |
| Genneva (M) Sdn Bhd | 12 August 2011 | - Case was heard at Kuala Lumpur Sessions Court
| Next hearing dates:
i. 12 - 14 Sept. 2011
ii. 14 - 16 Nov 2011
iii. 07 - 09 Dec 2011
v. 12 - 15 Dec 2011 | Bank Negara Malaysia Investigates Genneva Sdn Bhd and Etika Emas Estet Sdn Bhd |
| 1 July 2011 | - Case was heard at Kuala Lumpur Sessions Court.
| Continued hearing dates is fixed as follows: -
i) 28-29 July 2011; and
ii) 8-12 August 2011 |
| 18 - 22 April 2011 | - Case was heard at Kuala Lumpur Sessions Court.
| The following dates was fixed for continued hearing:
i) 10 May 2011;
ii) 23 May 2011;
iii) 24 June 2011;
iv) 27 June 2011; and
v) 28 June to 1 July 2011. |
| 21 March 2011 | - Case was mentioned at Kuala Lumpur Sessions Court.
| The court has set the hearing of the AMLATFA case to be heard together with the BAFIA case as follows:
i) 4 - 8 April 2011; and
ii) 18 - 22 April 2011. |
| 18 March 2011 | - Liew Chee Wah, the director of Genneva Sdn.Bhd. was charged at Kuala Lumpur Sessions Court for an offence under Section 25(1) of the Banking and Financial Institutions Act (BAFIA) 1989.
| The court has fixed 21 March 2011 for the mention of the case. |
| 16 March 2011 | - The company and the directors of Genneva Sdn.Bhd., Chin Wai Leong, Ng Poh Weng and Marcus Yee Yuen Seng were charged at Kuala Lumpur Sessions Court for an offence under Section 25(1) of the Banking and Financial Institutions Act (BAFIA) 1989.
| The court has fixed 21 March 2011 for the mention of the case. |
| 14 November 2010 | - AMLATFA case was heard at Kuala Lumpur Sessions Court.
| The Court has set the trial dates as follow:
- 4-8 April 2011; and
- 18-22 April 2011
|
| 14 Oktober 2010 | - Ng Poh Weng, Marcus Yee Yuen Seng, Liew Chee Wah and Chin Wai Leong, the directors of Genneva Sdn. Bhd. were charged at Kuala Lumpur Sessions Court for an offence under Section 4(1) of the Anti-Money Laundering and Anti-Terrorism Financing Act 2001 (AMLATFA).
| Mention date was set on 16 November 2010 |
| 21 July 2009 | - Bank Negara Malaysia has commenced investigations into Genneva Sdn Bhd and Etika Emas Estet Sdn Bhd under suspicion of conducting illegal deposit taking activities in breach of Section 25(1) Banking and Financial Institutions Act 1989 (BAFIA) and Section 4(1) of Anti-Money Laundering and Anti-Terrorism Financing Act 2001 (AMLATFA).
- The raids on these companies were conducted at their premises in Kuala Lumpur following information received from members of the public. Relevant assets and documents of the company were seized for the purpose of investigation.
| Ongoing Investigation |
| Bestino Group Berhad | 25 July 2011 | - Case was mentioned at Ipoh Sessions Court.
| Next mention date is fixed on 19 September 2011. | Bank Negara Malaysia and Securities Commission Malaysia Investigates Bestino Group Berhad and Its Related Companies |
| 23 May 2011 | - Case was mentioned at Ipoh Sessions Court.
| The court will fix the trial dates on 25 July 2011. |
15 April 2011 | - Case was heard (mentioned) at Ipoh Sessions Court.
| The Judge allowed for prosecution's application for joint trial of the BAFIA & AMLATFA charges.
Next mention date is fixed on 23 May 2011. |
11 April 2011 | - Joint trial application for BAFIA & AMLATFA charges were heard at Ipoh Sessions Court.
| The Court will give its decision on 15 April 2011 on the prosecution's application for joint trial for all charges. |
23 February 2011 | - Chong Yuk Ming, Goon Koon Lee, Chang Kuei Geh and Ho Chee Cheong, the directors of Bestino Golden House Sdn.Bhd. were charged at Ipoh Sessions Court for an offence under Section 25(1) of the Banking and Financial Institutions Act (BAFIA) 1989 and Section 4(1) of the Anti-Money Laundering and Anti-Terrorism Financing Act 2001 (AMLATFA).
| Bail amount for each accused was set at RM1.5million with 2 sureties (one of it must be a family member) and passport to be surrendered to the Court.
The court set date on April 11, 2011 to hear on the prosecution's application for joint trial for all charges. |
| 16 June 2009 | - Bank Negara Malaysia and the Securities Commission Malaysia have commenced investigations into Bestino Group Berhad and its related companies suspected of conducting illegal deposit taking and illegal investment schemes, in breach of subsection 25(1) of the Banking and Financial Institutions Act 1989 (BAFIA) and the offering for subscription or purchase of preference shares in breach of section 212(2) of the Capital Markets and Services Act 2007
- The raids on Bestino Group Berhad and its related companies were conducted at their premises in Ipoh, Perak and Petaling Jaya, Selangor following complaints received from members of the public.
| Ongoing Investigation |
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Interesting information! :) So many Gold scam out there!
yeah..Alot of suspicion activities related to the trading of gold :P
Someone had tempered/edited this list. The Genneva company listed is not genneva (M) sdn bhd. The charged company is genneva sdn bhd, no (M). Someone here obviously has bad motive.