Published: Friday October 5, 2012 MYT 11:37:00 AM
BNM: Genneva Malaysia raided for suspected offences including illegal deposit taking
KUALA LUMPUR: The authorities are investigating Genneva Malaysia Sdn Bhd and its related companies for suspected offences which include illegal deposit taking, money laundering, tax evasion and avoidance.
Bank Negara Malaysia said on Friday the other suspected offences included false description including misrepresentations, appointment of agents without licence and failure to lodge statutory documents.
On Monday, the police, BNM, Ministry of Domestic Trade, Cooperatives and Consumerism and the Companies Commission of Malaysia raided several premises of Genneva Malaysia and residences of the company's directors.
BNM said relevant assets and documents of the companies seized from the raid would be preserved for the purpose of facilitating the investigations.
"The relevant enforcement agencies have mobilised the necessary resources to expedite the investigations," it said.
The central bank advised the public 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," said BNM.