The Gold Label == SCAM??

Bank Negara Malaysia has launched a probe into The Gold Label Sdn Bhd under suspicion of conducting illegal deposit taking and money laundering activities. The company had breached subsection 25(1) Banking and Financial Institutions Act 1989 (BAFIA) and sub-section 4(1) of the Anti-Money Laundering and Anti-Terrorism Financing Act 2001 (AMLATFA) respectively, BNM said in a statement here on Friday… (link)

Did you ‘invest’ in The Gold Label? My friends did buy some gold bars from The Gold Label. Getting 3-5% monthly interest while holding the chocolate gold bar. They will buy back from you when it’s mature. Sound really good as you can get fast cash in short term. Too bad that I did not invest in it last year. Else I will be visiting its Penang office right now.

If everyone is taken out their money from The Gold Label now, I am sure that The Gold Label won’t have so much cash flow to pay it all back. Better be the first few to grab your precious money back. Or lose everything…

By the way, BNM said public should be wary of investing in get-rich-quick schemes to avoid losing their savings and money to fraudulent parties. Further information on illegal financial schemes can be obtained from the Financial Fraud Alert site at

  • so many scams these days.. gotta be careful =)

  • Thanks for the information! 🙂

  • Panda

    Heard of them earlier. Definitely a ponzi. No value creation here, just money passed around to earlier ‘investors’ from new participants of the scheme. Glad BNM finally closed in on these irresponsible operators. People are so gullible and greedy.

    • John Tan

      Your remark is quite bad

      Gold Leaf started shop in Singapore last year

      Is the Company still operating in KL?

      They are still “selling gold” in Singapore

      I tried buying S$ 1 million worth of gold from them

      They were not able to give me any Banker or Insurance Co Guarantee to guarantee the return

      If they can generate the kind of return they should be in business for themselves