EmGoldex on Central Bank of Malaysia investment blacklist

7 Comments on “EmGoldex on Central Bank of Malaysia investment blacklist”

#1

anjali

Apr 28th, 2015 at 11:03 am  anjali(Q)

oz:

Malaysia’s investor warning brings the total number of recent EmGoldex regulatory actions to three.

in may, 2014, panama also issued an alert against emgoldex:

SUPERINTENDENCY OF BANKS OF PANAMA NOTICE TO THE PUBLIC

In reference to this, the Superintendency of Banks advises the public that EMGOLDEX, EMGOLDEX PANAMÁ and GOLD & SILVER PHYSICAL METALS KG are not regulated or supervised by this Superintendency, as they do not hold,nor have they held, a Banking License to engage in the Banking Business in or from the Republic of Panama as required by the Banking Law. Also, they do not hold nor have they held a Trust License.

out of the US, malaysia, panama and philippines, only the US has taken legal action against emgoldex.

superbancos.gob.pa/documentos_ing/laws_regulations/notice/2014/notice_13-2014.pdf



#2

anjali

Apr 28th, 2015 at 11:08 am  anjali(Q)

in feb, 2015 philippines issued a public alert against emgoldex.

in march, 2015 the philippines SEC ramped up its campaign against emgoldex:

MANILA, Philippines [march,2015]- The Securities and Exchange Commission (SEC) has intensified its campaign against Emgoldex Philippines, an alleged fraud entity that is not registered to operate in the country.

“This commission has received information about the proliferation of bogus SEC public advisories concerning Emgoldex Philippines that bear the SEC logo or appear to have been issued by the commission or signed by any of its officials,” the country’s corporate regulator said in its recent public advisory.

The SEC last month already issued a warning to the public against investing their money with Emgoldex Philippines which claims to offer huge returns for every investment.

Despite the earlier notice, however, fake SEC public advisories from Emgoldex Philippines have continued to surface.

“Any public offering or solicitation of investment in the Philippines without the prior license or permit from the SEC is strictly prohibited by law and may be penalized by imprisonment and/or fine,” the corporate regulator said.

philstar.com/business/2015/03/08/1431132/sec-steps-campaign-vs-emgoldex



#3

K Chang

Apr 28th, 2015 at 11:40 am  K Chang(Q)

Oz… 10th of April, not 4th. 4th is the next line down.



#4

Oz

Apr 28th, 2015 at 11:42 am  Oz(Q)

Thanks for catching that. Must have had the number four on my mind :).



#5

Gemini

Jun 28th, 2015 at 12:48 pm  Gemini(Q)

what was the reason it has to be blacklisted? is it because it was not registered in Malaysia.

Or is it under investigation to blacklist?



#6

arunraj

Sep 25th, 2015 at 11:49 am  arunraj(Q)

please my famaily are all involved in this project. some already made their money. some have not because they could not get new clients. so they got stuck. how to withdraw the money invested?



#7

Oz

Sep 25th, 2015 at 3:43 pm  Oz(Q)

how to withdraw the money invested?

You can’t. That’s how Ponzi schemes work, someone has to invest after you or you lose your money.