Today, Bank Negara Malaysia (BNM) has release their press statement stating their reasons of joint raids on Genneva Malaysia Sdn Bhd. Bank Negara said Genneva Malaysia Sdn Bhd and its related companies are 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. On 1st october 2012, Bank Negara Malaysia (BNM) with cooperation from the Royal Malaysian Police, Ministry of Domestic Trade, Cooperatives and Consumerism and Companies Commission of Malaysia raided Genneva office at Jalan Kuchai Lama. For latest news about Genneva raid, you can read this post; Genneva Malaysia latest news.
BNM press release statement-5 October 2012
On 1 October 2012, joint raids were carried out on several premises of Genneva Malaysia Sdn Bhd as well as on the residences of the Directors of the company by the Royal Malaysian Police, Bank Negara Malaysia, Ministry of Domestic Trade, Cooperatives and Consumerism and the Companies Commission of Malaysia.
Genneva Malaysia Sdn Bhd and its related companies are 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.
Relevant assets and documents of the companies seized from the raid will be preserved for the purpose of facilitating the investigations. The relevant enforcement agencies have mobilised the necessary resources to expedite the investigations.
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, members of the public may contact the following:
BNMTELELINK (Customer Contact Centre)
Tel: 1-300-88-5465
Fax: 03 - 2174 1515
