Bankrupt goldsmith allegedly dupes 15 gold suppliers of RM30mil of gold

KUALA LUMPUR: More than 15 victims suffered some RM30mil in losses after they were allegedly duped by a goldsmith.

The victims, who were gold suppliers, were not paid by the suspect after they had supplied millions of ringgit worth of gold.

One of the victims, gold supplier Allan Tang said he had been dealing with the suspect for two years.

“At first, he made prompt payments as the amount of gold ordered was not that substantial.

“On Jan 9, he ordered RM569,170 worth of gold for his shop. The gold was delivered and the goldsmith said he will pay within a few hours.

“However, until the next day there was no payment and the goldsmith claimed he had no money and the gold was gone,” he told a press conference organised by MCA Public Services and Complaints Department head Datuk Seri Michael Chong at Wisma MCA on Tuesday (Aug 1).

The 32-year-old man said he went to the suspect’s shop on Jan 10 and discovered it has been closed down.

“He has already owed me RM447,554 from a previous sale so in total I suffered RM1.01mil in losses.

“I already lodged two police reports on the matter,” he said.

Another victim Loi Chong Soon, 52, said the suspect owed his gold supplying company RM1.5mil in unpaid gold deliveries.

“On Jan 10, the suspect claimed he was scammed and unable to pay the sum owed. He then promised to obtain a loan to settle the debt but until today, no payments have been received.

“He even asked me not to lodge a police report but I still went ahead and lodged two police reports,” he said.

Meanwhile, Chong said the suspect’s goldsmith shops in Shah Alam were registered under his brother’s name as he had been declared bankrupt.

“I believe he has duped more than 15 victims, who were gold suppliers. One of the victims even suffered RM11mil in losses.

“I would not be surprised if this man has amassed more than 30mil in gold based on this scam,” he said.

Chong said he would inform Selangor police chief Comm Datuk Hussein Omar Khan on the matter and hope the police will expedite the investigation on these cheating cases,” he said.

“We hope the victims will get justice with the culprit apprehended.

“We also urge others to be wary when making such business deals. Verify the authenticity of those you are in business with,” he said.