Ten billion ringgit gold scam

Bank Negara have released the findings of a gold scam in Malaysia where the Company collected 10 billion Ringgit as a deposit against only a few million Ringgit of assets resulted in such a big gap between the assets and liabilities. Where have all the money gone ? Many people will have to kill themselves.,

I remember of the financial melt down during the 1997 where the KLCI dip severely  causing many margin calls and bankruptcies. Many house wives were caught and many families were destroyed.  I believe this gold scam would have the same or worst impact that the share crisis. If the ten billion Ringgit affects the KLCI ,  it will be worst than  the 1997 crisis.

How could these bad people do these harm to the innocent people  and make them go through hell? Of course, the Deputy Governmor of Bank Negara blame the investors for being stupid and telling them that if they expect high profit , then it will be high risk. He is right in a way but Bank Negara could have acted sooner to stop the scam or regulate the seheme. If they have taken actions earlier, less people will have to commit suicide or suffer huge losses incluidng losing their homes, property, retirement money and life.

Coming back to the money collected from the scame, the amount of ten billion Ringgit is not small , where has it gone.  Has it been quietly taken out of the country and if not, can Bank Nagara trace it and get it back as soon as possible.

Many investors are holding on their gold or certificates with the hope of savaging some residue from their investments. Dreams are spoilted  and hopes are gone. The whole fiasco is due to GREED. Everyone wants a good life or a better life and the pursuance of this objective have driven them to be lure by GREED.

My SIL, M told me that her ex-husband have warned her before his death that be careful of GREED.  The craving for GREED will get us all in trouble.  He reminded her to write this world GREED on the mirror in her bathroom and she will be reminded of this enemy in her .

Yes to all of us. Be contented and remember there is no such thing as a " free lunch" or no products which offers  " high profit , low risk" or profit guarantee schemes.  All these products is driven by the sweetness of GREED.

Be aware of the existence of bad people and bad schemes.  I cannot curse these bad people enough and although, it takes two hands to clap, we should not cause hurt to others by our actions. We maybe the smarter ones but we should no prey on the innocents. I am not sure " Hell" exist but I would like to tell these people to " GO TO HELL".

Amitabha.