Singaporean link suspected in gold deals in Malaysia: Sources
PETALING JAYA (THE STAR/ ASIA NEWS NETWORK) - Several Singaporeans appear to be actively involved in unregulated gold trading schemes in Malaysia, the Star newspaper reported on Sunday, citing sources.
A number of the companies that offer investment schemes, especially in gold, appear to have links with Singaporeans, the sources claimed.
"As the Singaporean authorities are also raiding companies involved in suspected money laundering activities, we suspect that there is outflow of funds from unsuspecting Malaysian investors to assist them," said the sources.
There are also cases of Singaporeans sitting as board members in the Malaysian-based companies dealing in unregulated gold investment businesses, the sources added.