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KUALA LUMPUR: FOUR police reports have been lodged against Genneva Malaysia Sdn Bhd over gold trade worth RM5.3 million.
It was understood that one of the reports was lodged by the Muslim Consumers Association last month, alleging that the company's gold trading business had violated Islamic law as mentioned by the Fatwa Committee of the National Council of Islamic Religious Affairs Malaysia (NCIRAM).
The report was lodged at the Ampang police headquarters.
An association spokesman said the report was lodged after they received almost 30 complaints about the company from investors since May.
Meanwhile, three other reports were lodged by investors, including a 44-year-old manager from Singapore.
It is learnt that the woman, who bought gold bars from Genneva Pte Ltd in Singapore in 2009, had wanted to take out her gold bars from the company upon maturity.
The woman further claimed she sought the help of her consultant but was given the runaround.
After much pestering, the woman was told that the gold bars were kept at the Genneva Malaysia Sdn Bhd office in Jalan Kuchai Maju 6 here.
Meanwhile, another complainant, a technician in his 20s, claimed that he bought 150g of gold from the company for RM29,700 in May. He got the gold bar and received three months hibah (gift) from the company.
The company, however, failed to pay him back his money when he returned the gold bar to them last month. He lodged a police report after waiting for almost a month.
The last report was lodged by a 44-year-old self-employed woman who had bought gold bars worth RM260,000 at the end of last month.
She was shocked when she found out the company's business dealings were not endorsed by Bank Negara.
Sources said all police reports have been referred to Bank Negara for further action.
The gold trading company is believed to be under investigation for alleged illegal money taking as well as under the Direct Selling Act.
NCRIM in July issued an edict against transaction or investment with Genneva Malaysia Sdn Bhd stating that such transactions violated Islamic laws.
Its chairman, Professor Emeritus Tan Sri Abdul Shukor Husin, told Bernama that Bank Negara had attested that the company's transactions and investments did not fully comply with the Gold Investment Parameters recommended by the 96th Fatwa Committee of the NCIRAM Conference in June.