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Sunday October 7, 2012
KUCHING: Genneva Malaysia Sdn Bhd gave a briefing for its clients here yesterday.
About 200 people turned up and, as expected, it was emotionally charged.
The briefing began at 2pm yesterday, and by 3pm there were walkouts.
Many questions were raised and many requests were made to get the attendants to keep calm, have faith and stay the course.
To reporters, carefully worded statements were provided, and at the end of the briefing, a banner was unveiled for a photo opportunity with the customers and consultants who stayed until the end of the briefing.
In its “objectives” and “our appeal” statement etitled “We Support Genneva Malaysia”, the company urged Bank Negara Malaysia and relevant authorities, “to expedite its investigation as more than 50,000 individuals and their families and businesses are affected”.
It also appealed to Bank Negara that, “all the money and gold at Genneva Malaysia Sdn Bhd that are frozen to be returned to the rightful owners after the investigation”.
Under the statement’s objective section, there were four points, from updating consultants and customers on the investigation to advising them “to remain calm and to be patient”.
It also urged that “all consultants and customers to continue to support Genneva Malaysia in the midst of the investigation”.
“To say that I’m not worried would be a lie,” said David Kang, 45, a businessman who has been a Genneva Malaysia customer for one-and-a-half-years.
Kang said his confidence in the company would be based on the authorities’ findings. He said he would continue to be a client if the authorities could not find fault with Genneva Malaysia.
Some other customers were not as understanding.
“The fault lies with Bank Negara too,” said Wong, a customer who declined to reveal his full name.
“If something was wrong, Bank Negara could have acted earlier. I don’t know. I just want the investigation to be over fast. Punish those in the wrong and change the management if necessary.”
A Bank Negara statement released on October 4 said Genneva Malaysia Sdn Bhd and its related companies were being investigated by the relevant enforcement agencies for suspected offences, “which include illegal deposit taking, money laundering, tax evasion and avoidance, false description including misrepresentations, appointment of agents without licence and failure to lodge statutory documents”.
“Members of the public are advised to check with the relevant authorities when dealing with companies or individuals offering seemingly attractive business opportunities or financial services that are not licensed by the authorities. Members of the public are reminded to be cautious in investing in unregulated schemes. The enforcement agencies will take action on illegal financial schemes to protect the interest of the investors and the public at large.”
For more information, visit bnm.gov.my.
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