Press Statements

> Press Release
 

We refer to various claims made with regards to the case of Bestino Golden House Sdn. Bhd. (Bestino) currently awaiting hearing at the Sessions Court of Ipoh. Bank Negara Malaysia would like to state the following:

  1. On claims for Bank Negara Malaysia to release assets seized during the course of investigations:

    • Four Directors of Bestino were charged in the Sessions Court of Ipoh on 23 February 2011, under section 25(1) of the Banking and Financial Institutions Act 1989 (BAFIA) for suspected conducting illegal deposit taking activities and section 4(1) of the Anti Money Laundering and Anti Terrorism Financing Act 2001 (AMLATFA) for suspected money laundering offences.

    • The assets seized under section 50(1) of AMLATFA amounting to RM24.2 million are currently held as evidence. As such, these assets cannot be released until the court proceedings have been completed.

  2. Claims made that Bank Negara Malaysia has hindered the return of un-seized assets purportedly owned by Bestino:

    • Bestino is free to return any purported funds claimed to be in existence to the investors, as previously stated in our press statement on 11 August 2011. Approval from Bank Negara Malaysia is not required.

Bestino has also not responded to Bank Negara Malaysia's request for a date to hold a tripartite meeting with the investors of the scheme and Bank Negara Malaysia, to provide an opportunity for Bestino to explain any purported plan to refund investors' monies and for the investors to consider the restitution plan to be offered by Bestino, if any.


 
 
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Last Updated Date : 22 February 2012
 

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