Genneva's accounts as well as resources were solidified after it was raided by BNM as well as other agencies. File pic
"The information which I have is which there [are] 35,000 investors which can be detected, though a total investment can reach RM10 billion," a deputy financial minister told Parliament during Question Time today.
Awang Adek previously told Parliament which Genneva Malaysia's liabilities exceeded a assets, indicating as well as which a association was incompetent to pay earnings to a investors.
Genneva's bank accounts as well as other resources have been solidified by BNM given Oct 1, following suspicion which a association allegedly breached multiform promissory note as well as financial laws such as illegal deposit-taking, income laundering, tax evasion as well as appointing agents without licence, after multiform people lodged complaints with a police.
Genneva Malaysia has some 60,000 business as well as a monthly turnover of RM2 billion, according to a traders interviewed byThe Malaysian Insiderlast week, though a company's website states 50,000 business as well as a turnover of RM3 billion.
Bank Negara Governor Tan Sri Zeti Akhtar Aziz has additionally pronounced a executive bank is fast-tracking investigations in to a controversial bullion trade association so which a business will not be kept watchful for as well long.
Genneva, Pageantry Gold Bhd, Caesar Gold Sdn Bhd, Worldwide Far East Bhd as well as Bestino Group Bhd have been among twenty-five people as well as companies charity unlawful activities ! which we re placed on an financier alert list by a executive bank last year, double a series from 2010 as well as a top on record given 2003.
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Courtesy of Bonology.com Politically Incorrect Buzz & Buzz
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