Parliament: Reply on Illegal Deposit Taking cases
Fong Po Kuan (Batu Gajah) minta Perdana Menteri menyatakan mengapakah Jabatan Peguam Negara masih enggan memberi arahan pendakwaan terhadap syarikat yang terlibat di dalam perniagaan wang deposit (illegal deposit taking), melanggari BAFIA 1989 walaupun siasatan telah selesai dijalankan oleh Bank Negara.
Jawapan
Semua kes pengambilan deposit haram yang telah selesai disiasat oleh Bank Negara telah pun didakwa di mahkamah kecuali kes yang melibatkan syarikat G-Gold Galery Sdn Bhd. Ini adalah kerana bagi kes G-Gold Gallery Sdn Bhd proses untuk mendapatkan semula wang pendeposit yang terlibat sedang dijalankan. Walau bagaimanapun, waran tangkap telah pun diperoleh dan kes ini sedang dalam proses pelaksanaan dan seterusnya pertuduhan di mahkamah.
Thanks for following and taking special attention in this case.
The written reply is so simple and does not justify much. I guess they r JUST REPLYING your question. Below are some further questions which I hope you can ask.
1. Why the G-Gold case was not published in any local newspaper? This should be made known and updated to the innocent investors and to warn the public of such illegal cheating business.
2. The warrant of arrest has been issued but has any arrest made? Who are those arrested? Please disclose the name list.
3. What about G-Gold related companies like Top Gold S/B? Was there any charges to G-Gold related companies? Since the Govt is charging G-Gold then all its related companies should also be investigated, charged and recover the innocent deposit money.
I have seen alot CBT case being charged & published in the local newspaper lately but not the G-Gold case. So, hope YB can press on publishing the G-Gold case in local newspaper.
YB, thanks again. Keep it up.
Comment by Leong WK — May 29, 2008 @ 12:40 am
I have family members who were con into this but do not have the proper documentation to proof. If there are preceding action to recover the money, please share with us what is the procedure and requirement to do so? Thanks.
Comment by Concern citizen Lee — June 9, 2008 @ 7:50 pm
It brings comfort to know that there are just MPs trying to bring light to this case.
This scheme has brought endless difficulties for my family. Relatives, friends, and myself have vested majority of our life savings with G-Gold, and its disappointing and hurtful to know that the perpetrators are still living their extravagant lives…does justice actually prevails?
If there are any possibilities of even recovering a portion of our investment, will the authorities please keep the victims informed. Did BNM get hold of the investors database?
Comment by Dr YS Lim — June 24, 2008 @ 1:02 pm
I am quite interested to know, what were the difficulties encountered by Dr Lim and his friends and family that were attributable to G-Gold? From people I know, it has been BNM taking more than 2 years to proceed with this case which has caused people difficulties.Similarly, in Malaysia, you are innocent until proven guilty. Please explain what this company has done which has already proven their guilt? And lastly, what was the attraction that your family and friends found in this company that lead you to initially invest? What happened to change your opinion? I ask these questions in all seriousness as I would like to pass the reply on to my friends who have also invested in this company.
Comment by Another concerned citizen — June 24, 2008 @ 2:20 pm
I am a G-Gold investor myself for the past 4-5 years. I also knew some people who are directly involved in this business. Sad to hear that after this unfateful incident 2 years ago, investors are using the word ‘con’. Firstly first, my personal opinion is that if the Company really intended to con people in the first place, I guess both the directors wont be here today to be charged. They will have asconded off huge amount of money and may lead an extravagant life somewhere in the world. Why on earth are they staying back and get humilated? Secondly, they are still trying their best with options for investors who are affected by this by offering them shares, which in turn, referred by some investors as a ‘joke’. Well, cant really blame them because not all ‘educated’ people are well versed in the stock market. Thirdly, I think no one ever pushes us to join the scheme, it was only ‘us’ who are willing to purchase gold from them and getting the 3% rebate per month. Oh and also there were proof that shows the receipt of the gold and also the acceptance/agreement form which we willingly signed. So, the question is who to blame here? As for me, never have I blamed G-Gold for their doings and for their efforts in trying to sell our gold at the best price for us and also offering us shares in a public listed company in Australia. They are just trying their best in recovering our ‘lost’ investment. Good luck G-Gold Gallery and may god bless you for your efforts.
Comment by An Investor — June 26, 2008 @ 3:22 pm
First and foremost, I’m glad that this has been brought up in Dewan Rakyat and I totally AGREED with “Comment by An Investor — June 26, 2008 @ 3:22 pm”
Here’s my personal 10 point of view:
1. One is innocent till one are found guilty of the offence
2. There’s always a RISK in all INVESTMENT…High Risk High Gain
3. There’s NO ACTION on the part of G-Gold to “Force/Manipulate” the investors to invest in this investment…”CREATIVE INVESTMENT”
4. I believe all investors are rationale in investing into this investment as mostly of them are professionals (including this Dr. YS Lim), Successful business entrepreneurs, Senior Govt. Officers, Royalty and many more…whom they have consulted reliable sources as well as measuring the risk before investing in G-Gold (LHDN/ACA…please take note)
5. Most of the investors are GREEDY of the returns; some feels a better options to invest their undeclared income (???!!!$$$!!!???) from other activities…smart peoples like you knows what i mean…
6. The same business process conducted in countries like Singapore, Hong Kong etc…(also commonwealth countries, I presumed it to be same legal statutory as in Malaysia)…but it has not been implicated as in Malaysia
7. It takes too long for BNM to investigate…2 years…imagine the gold price then and now!!! Who’s actually gain from this…neither G-Gold nor the investor, who else!!!???
8. I feels sympathy for those new investors as some of them suffer losses but it’s faith/timing of investment. Can anyone blame KLSE/Bursa Malaysia when they suffer losses in their investment of shares in the companies listed with KLSE/Bursa Malaysia? ONE needs to BEAR the CONSEQUENCES of their OWN ACTION!!!
9. Get the full list of investors from G-Gold from their 1st day of operation and published it out to the public. Then make your own view on the followings:
(9.1) How many people (%) have GAIN from G-Gold?
(9.2) Profession of the investors in G-Gold?
(9.3) Track record of G-Gold monthly disbursement of 3%-5% to all investors? Ask the person in charge of disbursement!!!
(9.4) There’s lot of agents/runners…don’t know what they has promised to the investors?
10. BE ACCOUNTABLE TO YOUR OWN ACTION…DON’T BLAME OTHERS>>>ADMIT YOUR OWN MISTAKE…LEARN FROM IT…DON’T REPEAT IT!!! THAT’s LIFE
Last but not least, I’m not an investor in G-Gold eventhough I’m a close friend of the founder and director of G-Gold (Daniel Choong). I’ve known him as a person who’s so dedicated in achieving somethings in life. He’s has been very very down once, and with his own will of success, he came out with this creative investment for the benefits everyone and himself…and of course, all investment comes with risk. Not to mentioned the word “con”…it’s very childish!!!
Good luck to all…
Comment by Rationale Citizen — June 27, 2008 @ 7:32 pm
I am an investor and proud to be one. I DO NOT blame the company. I am concerned as to why this investigation is taking more than 2 years. They have taken all the records and the gold. What else are they looking for? What are they waiting for?
If the company was formed to cheat, the directors and shareholders would have long skipped the country and be enjoying a wonderful life elsewhere given the surging price of gold today. They didn’t. They have even returned to get charged!!!!
Is this how Malaysia treated new businesses? Since the company’s suspension, they have been similar operators based on the same business model? Why was no action taken?
The authorities are at to blame for arrogance and inaction? Undue delays in these economic times only make things worse for Malaysia.
Come on. Give the guys a break. There are lots of other important things to do. We all need to move on.
Hope the authorities did learn something following the last election!
Comment by Loyal Investor — June 28, 2008 @ 6:05 am