Bank Negara Malaysia Investigates Asia Ceramic Marketing Sdn Bhd And Its Related Companies
The raid on Asia Ceramic Marketing Sdn Bhd and its related companies was conducted at the premise of the company in Kuala Lumpur following complaints received from members of the public.
Bank Negara Malaysia Investigates Genneva Sdn Bhd and Etika Emas Estet Sdn Bhd
Bank Negara Malaysia has commenced investigations into Genneva Sdn Bhd and Etika Emas Estet Sdn Bhd under suspicion of conducting illegal deposit taking activities in breach of Section 25(1) Banking and Financial Institutions Act 1989 (BAFIA) and Section 4(1) of Anti-Money Laundering and Anti-Terrorism Financing Act 2001 (AMLATFA). Section 25(1) of BAFIA 1989 prohibits any person from receiving, taking, or accepting deposits without having a valid license, whereas Section 4(1) of AMLATFA 2001 prohibits any person from engaging in, or attempting to engage in, or abetting the commission of money laundering activities.
On 26 May 2009, Bank Negara Malaysia (BNM) and Suruhanjaya Syarikat Malaysia (SSM) jointly raided AK United Sdn Bhd., Dinari Capital Sdn. Bhd, myDNA International Sdn. Bhd. and E-Eagle Sdn. Bhd pursuant to the Banking and Financial Institutions Act (BAFIA) 1989 and Companies Act (CA) 1965. These raids were simultaneously conducted at the companies’ premises in four different locations in Cheras, Kuala Lumpur.
Bank Negara Malaysia Raids Walton International Property Group (M) Sdn Bhd
On 5 March 2009, Bank Negara Malaysia raided Walton International Property Group (M) Sdn Bhd under the Exchange Control Act (ECA) 1953. The raids were simultaneously conducted at the premises of the company in Kuala Lumpur (W. Persekutuan), Kota Kinabalu (Sabah) and Kuching ( Sarawak ) following complaints received from members of the public.
Members of the public are advised to be cautious of this type of land banking schemes promoted by the company. Any elements of deposit-taking activities and public offerings such as ‘interest schemes’ or investment in real estates schemes (better known as ‘real estate investment trusts’ – REITs) should be referred to the appropriate authorities such as Bank Negara Malaysia, Suruhanjaya Syarikat Malaysia and Suruhanjaya Sekuriti.
Ref No: 06/07/02
Bank Negara Malaysia and SC investigates AB Fund for illegal internet investment activities
Bank Negara Malaysia Raided Four Companies on Suspicion of Conducting Illegal Deposit Taking & Money Laundering Activities
Any person or company who commits an offence under Section 25(1) of BAFIA 1989 shall, on conviction, be liable to a fine not exceeding RM10 million or to imprisonment for a term not exceeding 10 years or to both. Any person or company who commits an offence under Section 4(1) of AMLATFA 2001 shall on conviction, be liable to a fine not exceeding RM5 million or to imprisonment for a term not exceeding 5 years or to both.
Bank Negara Malaysia Raided Six Companies on Suspicion of Conducting Illegal Foreign Currency Dealings
Ref No: 03/09/07
Bank Negara Malaysia Charged Sunshine Empire Sdn Bhd for Illegal Deposit Taking
• Block A-11-1 (13 Floor) Penthouse, Menara Uncang Emas, 85 Jalan Loke Yew, Dang Wangi, Kuala Lumpur between 14 July 2006 to 17 October 2006 and;
• Ground Floor and First Floor of KUB.com Building, 12 Jalan Yap Kwan Seng, Dang Wangi, Kuala Lumpur between 18 October 2006 to 4 April 2008.
Sunshine Empire Sdn Bhd represented by its director Mohd Azlan Bin Azman pleaded not guilty to the charge. The mention date for this case is fixed on 10 April 2009.