Gold bullion firm Genneva fined RM450 million

GENNEVA Malaysia Sdn Bhd, the company at the centre of a once-popular gold bullion investment scheme, has been fined RM450 million after being found guilty of money-laundering and illegal deposit-taking.

The Edge Markets reported that Kuala Lumpur High Court judicial commissioner Ahmad Shahrir Mohd Salleh yesterday also imposed a RM1 million fine each on two other firms – Success Aptitude Sdn Bhd and Ng Advantage Sdn Bhd – found guilty of money-laundering.

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  • well done judge. The scammers must be made to pay for their crime of cheating many investors of their hard earned life savings

    Posted 1 month ago by Mike Mok