BNM’s credibility questionable

The article titled “Open Letter to Deputy Finance Minister & BNM, what happened to ‘Rakyat Didahulukan’? clearly uncovered a BNM officer’s hand behind events leading up to the raid. It appears that this officer was constructing an elaborate plot all along to destabilise Genneva Malaysia, in the hope of bringing it down. But why would BNM, or rather someone in BNM, want to do so?

Could Genneva Malaysia have grown too successful for some institutions? Could personal vendetta be involved here?

Whatever it may be, one thing is for sure. The ‘hands’ behind this plot do not have the rakyat’s welfare at heart as claimed but those of a selfish few. After all, how can one freeze a legitimate company that has been fulfilling its obligations to its customers and then claim it to be in the interest of the customers? Only parties with no conscience can be bold and cold enough to see 300,000 people suffer and still be happy about it. Only parties with self-interest have reasons to do so.

The plot is now clear for everyone to see.

Genneva Malaysia has been given the green light to operate following BNM’s audit outcome in February 2012. That means Genneva Malaysia is already above board. That must have irked those who have been waiting to see the demise of Genneva Malaysia. But it would seem silly for BNM to suddenly reverse their decision. So there is a need to tarnish Genneva Malaysia first.

To start, squeeze the company’s gold supply. Then drum up support against the company by using other parties to implicate Genneva Malaysia (via National Fatwa Council and PPIM). Then run a series of adverse advertisements to induce a run on the company. Once achieved, raid.

But dramatise the raid. Because perception of guilt is often more effective that having to prove guilt.

But why did BNM, or rather the officer in question, need to plot when BNM already have solid proof of wrong-doing, hence the raid? Or perhaps they don’t, hence the plot?

To prove a point why BNM’s credibility is in doubt, take a look at an article that appeared in PPIM’s website titled Genneva Gold: The truth behind the scam by OUTSIDER AND INSIDER”. As usual, the contents are twisted but this aside, the interesting part is the screenshot of page 3. In the third image of the email, you will see BNM Head of Special Investigation Unit (SIU) Mazlan Ahmad instructing his colleague Farez Mohd Latip, “Pls forward and share with the world including FB on Enti Genneva and Genneva Disgruntled Customer Group. TQ.”  – (View screenshot on page 3).

BNM Mazlan Ahmad Exposed

The point is not the content of the article but the manner in which the Head of SIU dealt with it. As the Head of BNM’s SIU, shouldn’t he be objective and level-headed enough to act based on facts rather than spreading unconfirmed story of an individual? This makes the SIU Head appear like someone with a personal vendetta.

With this in mind, would BNM be REALLY objective in their investigation of Genneva Malaysia thus far? If this is how the Head of SIU behaves, the credibility of the SIU is now questionable, at the very best, including whatever official statements dished out by BNM.

And since BNM is the lead agency in this investigation and the main source of information for government officials, it is no wonder why statements made by Deputy Ministers are also inaccurate to the point of fabrication of facts.

It would be interesting to see if BNM would salvage their reputation by righting the wrong of their officer(s) and free the afflicted 300,000 rakyat from further suffering caused by this injustice.

UPDATED: Screenshots from PPIM website: Click on image to view larger text…

PPIM-Pg1PPIM-Page2genneva2 001genneva2 002genneva2 003

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