BNM raids three more gold trading firms

KUALA LUMPUR, Oct 5 — Joint raids were mounted today on Pageantry Gold Bhd, Caesar Gold Sdn Bhd and Worldwide Far East Bhd by Bank Negara, the police and the Domestic Trade, Co-operatives and Consumerism Ministry.

The central bank said the three businesses are suspected to be involved with offences that include illegal deposit-taking, money laundering, tax evasion and avoidance, false description, including misrepresentations and appointment of agents without licence.

“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,” the regulator said in a statement.

Bank Negara reminded the public to be cautious when investing in unregulated schemes.

“Enforcement agencies will take action on illegal financial schemes to protect the interests of investors and the public,” it added. — Bernama

3 Replies to “BNM raids three more gold trading firms”

  1. Investing in gold it is not that much risky business and the same time it is good thing to do since it can help you to hedge against inflation today. Thanks for sharing the useful information with us.

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