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Police report against Maicci chief

 | October 23, 2012

Kenneth Easwaran's remarks have riled up Bestino investors, who accuse him of being a busy body.

PETALING JAYA: A group of disgruntled Bestino investors today lodged a police report against the Malaysian Associated Indian Chamber of Commerce and Industry (Maicci) president Kenneth Eswaran over “a slanderous” statement against them.

The report was lodged at the Ipoh district police headquarters by the Bestino Investors Action Committee, who wanted the police to investigate and initiate action against the businessman.

Yesterday Makkal Osai, a local Tamil newspaper, published a report quoting Eswaran who had said that it was unfair for the investors to ask the prime minister to settle their dispute with Bestino and repay their investment.

He was also quoted as saying that the investors had suffered due to their greed and that they did not seek Bank Negara Malaysia’s (BNM) advice before investing in Bestino.

Bestino was a huge firm dealing with gold trading and investment, attracting nearly 6,700 investors who had invested to the tune of RM411 million. The company was raided and closed down by BNM in 2009, after it found some discrepancies in the firm’s dealings.

Since then, investors had been trying to get back their investment. The firm said that their money was safe in an account overseas. The company claimed that the funds could not be brought into Malaysia as the sum was too huge and needed government approval.

Both BNM and the Finance Ministry were reported to have given Bestino the green light to transfer the funds but the firm was still citing several obstacles in getting the money into Malaysia.

Dubbing Easwaran as a “busy body”, K Kunasekaran of the Bestino Action committee said the MAICCI head should stay out of the matter as he was neither an investor nor a Bestino director to comment on it.

“He has no right to talk about the thing since he is not the finance minister. Bestino is a legal gold scheme company which is registered under the Registrar of Companies (ROC). It is also endorsed by BNM. Let the authorities and the company do the talking, not outsiders,” he told FMT.

He said the company was established in 2006 and was giving dividends to investors until its accounts were frozen in 2009.

“It seems like Easwaran made noise just to satisfy someone who was not happy with our action to get back our investment. His statement has made many investors angry.

“He should be careful in making statements in the future. Please do not talk about something that does not concern you,” he added.


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