Promoter of gold bar scam charged in court

In the Session court, Kokilla d/o Sadashivam, was charged for allegedly hatching a RM1 million gold bars scam.

She and her husband, Chandran s/o Sagayam, claimed that their company, 7 Stars Fashions, based in Prai, has been invited to bid for the RM1 million worth of gold bars from the Customs and Excise department tender exercise.

The couple went around soliciting for investment funds by showing potential investors proof of a letter supposedly issued by the Customs and Excise department to their company supported by proper departmental letterhead, stamp and the name of the officer who signed the said letter.

The accused, Kokilla, was alleged to have further misled her victims by telling them that the real market value of the tendered gold bars are worth RM8 million which was very much higher for what they will be investing.

The incident was related to CJMY by Ganesan Veloo, 47, one of the victim of the alleged gold bars investment scam.

He was present in the court hearing accompanied by two other victims.

Ganesan showing photo of the couple promoting the scam

Genesan said, he lodged a police report sometime in August, 2010, after the couple failed to fulfill their promises.

Adding, he said, there will be more victims coming forward after this when they realised that the investment is a scam.

Lawyer Kula Segeran, who is representing Ganesan, urged victims who have invested in the alleged gold bars investment scam to come forward to assist in the police investigation.

The Session court set bail at RM30,000 on the accused while hearing continues.