Explain, Bestino investors tell Bank Negara

The investors want the central bank to clear the air regarding the statement made by Bestino director Chong Yuk Ming.

PETALING JAYA: Embattled Bestino investors have expressed disappointment with Bank Negara Malaysia over the nation’s biggest gold scam.

In a press statement, Bestino Action Committee urged the central bank to clear the air over the statement made by Bestino director Chong Yuk Ming that Bank Negara had yet to give the green light to settle the investors’ money.

According to a news report on Feb 13, Chong said Bestino was ready to return the money to the investors on April 30 since the company had US$146million (RM438mil) in the HSBC Bank, Hong Kong.

He however claimed that the gold investment scheme company needed Bank Negara’s approval to bring the money into Malaysia.

In view of this, the action committee urged Bank Negara to state its stand on the matter.

More than 6,700 people had invested in Bestino but the company was later raided by Bank Negara.

On Dec 22, 2011, the action committee held a meeting with Bank Negara assistant governor Abu Hasan Alshari. The latter had accused the Bestino management of not being cooperative and not disclosing details of its properties.

At the same time, Bank Negara had also said that an investigation showed that Bestino had no record of owning properties outside the country.

“It is clear cut that both sides (Bestino and Bank Negara) are giving contradictory statements,” said the action committee. “We want to know who is speaking the truth?”

The action committee had launched a signature campaign, which would be later submitted to the Bank Negara governor and attorney-general next month.