Monday, January 16, 2012

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Dear All,

Google's new process for browsing through comments is very tedious given that the article we were all posting to has over 1,000 comments. Hence I suggest that we move to posting comments to this article instead.  I have disabled posting of new comments to the article "An Open Letter to Bestino".

Happy New Year and may this year be the year we get back our money.

Best regards
Beastie

578 comments:

  1. Please post all new comments here.

    ReplyDelete
  2. Hi! Beastie, Its a bit confusing. It took me a long time to figure how to post a comment. And I could not do it on Internet explorer. I had to use google chrome. Is there some way you can make it user friendly again. Thanks.

    ReplyDelete
  3. Hi, thanks for your patience.

    Unfortunately the blog is dependent on Blogger and whatever new features they introduce in Blogger is applied across the board to all blogs under Blogger. I have no control over this.

    I checked IE and it does seem like the latest version of IE is not very compatible with Blogger. I am sure they will figure this out and release a patch to correct the problem. In the meantime, I recommend using Google Chrome. It is much faster than IE and Firefox. I have not used IE for years and now only use Google Chrome.

    ReplyDelete
  4. Have you heard any news about the trip Krishnan made to HK 1 week ago? They are supposed to come back with the proof. Thanks.

    ReplyDelete
  5. Just called Bestino Office, said Krishnan will be back tomorrow. Asked to call back on 20th. Lets see what happens in 2 days.

    ReplyDelete
    Replies
    1. On the 20th, they will say that things are looking promising and Krishna is going back there in a month's time to conclude the negotiations. After that, we will not hear from them for another two years.

      Delete
    2. hahah, u r right. Craps

      Delete
  6. Hi! Beastie, The date of posting seems 1 day back - today is 18th Jan but the posting date shows 17th. Is it based on some foreign time?

    ReplyDelete
    Replies
    1. Interesting. Did not notice that before. Must a bug introduced when Google did the changeover to this new format. I double-checked my settings and I am using KL GMT +8 timestamp but the date being shown here is, I think, US date. Let's give Google/Blogger some time to iron out all these bugs.

      One good new feature they have introduced is threaded commenting. Hence, you can reply to a specific comment, like I just did.

      Delete
  7. just called bestino office
    they said they will return this weekend.
    But this weekend is CNY and bestino office will be closed.I am sure they will then delay it again for God-know-how-long

    ReplyDelete
  8. YM CHONG SAY THAT BANK NEGARA ALREADY APPROVED THE PROOF OF FUND AND ONE LUMP SUM WILL BE REFUND WITHIN 40 TO 60 DAYS (MARCH 2012)THIS IS A POSTIVE VERY VERY GOOD NEWS

    ReplyDelete
  9. Can we have something in black and white? This kind of promises have come and gone too many times.

    ReplyDelete
  10. Bestino office said we can expect full refund by end of April. Chong will make a press statement soon.

    ReplyDelete
  11. Dulu cakap boleh dapat duit bulan January...lepas tu bulan March...sekarang pulak dah April. Boleh percaya ke ni...?? Nanti cakap delay lagi sebab bagi PRU13 selesai...banyak susah la.

    Kesian kat kami la...kita bukan orang kaya...duit EPF sama duit anak semua sudah labur kat Bestino. Sekarang kena kerja sebagai jaga siang malam

    ReplyDelete
  12. Pls pay us back, need money very badly.

    ReplyDelete
  13. Can we please have a few members of the action committee to be directly involved(be present) in Bestino office and update us on the latest developments everyday on the process of refunding back the investment. If YM Chong is really sincere he should allow this.

    Because we have been fooled quite a number of times and I have a strong feeling this time also could be another cock n bull story.

    ReplyDelete
    Replies
    1. That's a good idea to get the action committee to go to Bestino's office in person and update the investors.

      Delete
  14. U are barking up the wrong tree. The ball is now at Bank Negara's feet. Bestino has secured the proof of availability of funds to return all the investors' money and that proof will be conveyed to Bank Negara.If the repayment is further delayed after that u should know where to send your action commitee.

    ReplyDelete
  15. Hello there securing so called proof of availability of funds that's parked outside M'sia is no big deal.We were told this same rubbish many times in the past.Has that so called amount been shown/verified by any of the investors yet? No isn't it.
    We are again taking YM's bull stories as truth without thinking.What's holding up the repayment if the money is REAL surely Bestino can issue us with foreign cheques if they are not too sure about BNM's hidden move!We do not mind paying the bank charges if so be the case.
    You can safely bet we are in for further rotting rubbish from this crook.

    ReplyDelete
  16. We have been fooled many times by Bestino regarding the returning of the investment. Hence what’s the guarantee do we have that this time it’s not another bullshit? On the 11th August 2011, BNM has said that they are not involved in any way for the returning of investment and the agreement is between Bestino and the investors only.

    So what’s the purpose of issuing the proof of availability of funds to BNM? Don’t you think that this might be another trick to buy more time? We need members of the action committee to observe and be briefed on a daily basis on each step taken by Bestino if they are really sincere in returning the investment.

    ReplyDelete
  17. Choong needs to make a public statement again on having submitted the proof of availability to Bank Negara. Only then we will believe him. Making a public statement is also good as it will force Bank Negara to respond.

    So Bestino, if the proof of funds have been submitted to Bank Negara, then please issue a public statement.

    ReplyDelete
  18. Any of you who keep supporting Chong, can you find out who in bank negara we can contact to verify that the proof of funds has been accepted? If an officer from Bank Negara can verify, then we can believe. I don't understand why Chong keeps bringing bank negara when they already made public statement that they are not involved in the return of the money to us.

    ReplyDelete
  19. The most logical thing for Chong to do is to issue a press statement instead of making us rely on Krishnan's SMS and this blog for updates. If there is any truth in all this, he should do so immediately..Hopefully when we get back our money, we can invest in SARA1Malaysia which offers 32.16% return on investment:

    http://www.theedgemalaysia.com/political-news/200068-govt-launches-rm500m-sara-1malaysia-investment-scheme-.html

    Hopefully our PM will intervene, then maybe BN will get more support from us all,

    ReplyDelete
  20. Keep dreaming AnonymousJan 29, 2012 04:30 AM
    . We have been fucked and try to accept the fact no way this mother fucker Chong is going to repay us.
    We have heard this crap far too many times already from both YM & Krishen.

    ReplyDelete
  21. I spoke to a Sami from India recently and according to him we should be getting back our money very soon. What’s important is we need to have the positive attitude and positive energy.

    All of us should pray hard everyday and let the positive energy compound by itself. So let’s stay focus and be united.

    ReplyDelete
  22. MINTA-MINTA JANGAN KITA KENA TIPU LAGI. BANYAK LUAHAN NI KERANA JANJI BESTINO SELAMA 3 TAHUN TIDAK DI TUNAIKAN. KATANYA SMS DARI YM CHONG TAPI APA PROOFNYA.DOA MEMANG TAK PERNAH TINGGAL UNTUK DAPATKAN DUIT KITA CEPAT. MEMANG BETULLAH LUAHAN INVESTORS INI.SAYA PUN KADANG2 RAGU JUGAK. HANYA TUHAN DAN PM YANG DAPAT MEMBANTU KAMI.

    ReplyDelete
  23. 'HANYA TUHAN DAN PM YANG DAPAT MEMBANTU KAMI'. Pigi-dah. Bodoh jika trust kepada Najib.

    ReplyDelete
  24. http://www.knowthymoney.com/

    ReplyDelete
  25. To me the issue of 'Proof of Funds' is to "Fools Us for Fun"..Fact 1.We knew that BNM had issue a statement last year sometime in August 2011, BNM has said that they were NOT involved in any way for the returning of investors money; any agreement made was between Bestino and the investors only. So showing of Proof of Funds to BNM is definitely a NO NO issue as far as BNM is concern. Bestino has all these while used BNM as a scapegoat for their own default in returning our investment which they have systematically conned us into it. Fact 2. BNM has NEVER set any terms of restrictions for anyone to bring IN any amount of money back to the country;policies of restriction only if someone tries to bring money exceeding 50K or 100K (not too sure what's the latest now)OUT of the country. So if Bestino can bring back money in any amount, they don't need to show 'Proof of Funds' to anyone, except to us ALL the investors as that is our money. I think whoever kept sending out the message on the issue of 'Proof of Fund' actually meant "PROOF OF FUN" for Chong and his gang. I knew there are quite a few of us who had made police report recently on Bestino scam, some are contemplating to start taking legal action too. Lets wait and see what will follow through.

    ReplyDelete
  26. Looks like YM has got many of us excited with yet another of his bull shit.I tend to agree with Ipoh_Mali.
    Also why Chong or any of his running dogs have not come out with any press statement till now pertaining to this? Surely this sort of news would have been on the front page of all the papers and media by now.
    Do not be disappointed if we are told by YM that BNM wants further 'proof of fun' to keep us busy screwing our very ownself.One too many times we have been taken for a ride my beloved friends hence be aware of this crook.

    ReplyDelete
  27. Apparently news is going around saying that someone had seen this 400mil cheque and it had been handed to BNM. But until now, why no press statements ? Nothing on Bestino website as well.

    ReplyDelete
    Replies
    1. Apparently Someone had told Someone that Someone had seen the cheque that ut had been handed to Someone in BNM and that Someone had told Someone to tell Someone that Someone had hear the news and here Someone had posted to tell Someone that Someone had seen the cheque and the Someone's story goes around as Someone's story had gone round and roun eto Someine as before! This is definite "Proof of Fun" to All the Someone here! The fact is NO ONE HAD ACTUALLY EVER SEEN ANY SUCH CHEQUE IN EXISTENT! No apologies to my frank comment.

      Delete
    2. Can the Someone please identify yourself for the benefit of ALL the Someone here? Otherwise, please, NO ONE should ever tell Someone this Someone's story again on this blog

      Delete
  28. Hope for the best and keep the positive energy alive…may the force be with you…

    ReplyDelete
  29. tolong lah PM selesaikan masalah kita secepat mungkin. kami perlukan duit duit kami secepat mungkin. kami terdesak ni. kami tidak percay lagi kenyataan dari bestino. tengok mana ada persidangan press ni. janji kosong aje. minta bantu kami dapatkan duit kami.

    ReplyDelete
    Replies
    1. Pergi Putrajaya pun setahu saya tak da apa-apa yang terjadi. Nak bagi tau PM apa gunanya ?

      Delete
  30. Everyone here is a Someone. Otherwise, how can we ever be here. So let's not get personal, shall we ? We are all here to get our money back. That's it !

    ReplyDelete
    Replies
    1. You might have got me wring on my earlier post on 'Someone'. I am not getting personal with anyone in anyway, at anytime and in any manner EXCEPT Chong and the Gang. What I hope is provided Someone has real solid hard evidence that the pay back is on the way, please NO NOT in anyway help (Chong and the gang)to spread any unsubstantiated 'news/message' of money is on the way, or cheque has been seen, bla bla bla which has time and again proven to be untrue. I have seen enough many 'poor investors' got hopeful and excited over these purported empty promises when these 'news' was posted and got disappointed, dejected and depressed when nothing materialized. Please don't help the culprits to play with everyone's emotion anymore, that was my intention and plead to all the Someone here.

      Delete
    2. Point noted and I'll move on. I was just making an enquiry to verify the story I heard. Looks like the post below has probably clarified that it may not be a cheque but just letter stating proof of funds. Thank you.

      Delete
  31. Has anyone spoken to Krishnan or Chong? Or BNM? I tried calling BNM today many times - its the answering machine - for sooo long I hold - still no officer online. Called many times - same case. Do you realise evertime got festival -same story of Hong Kong? Its Hari Raya, then Deepavali, then Christmas, now CNY. Then we wait & wait, again Hong Kong story when next festival comes. I don't know who is getting this sms from krishnan- always same story. Dear committee members in Ipoh - anyone has gone to bestino office to verify or contacted chong or krishnan directly? PLease update. Thank you.

    ReplyDelete
  32. It was a Hari Wilayah Day in KL and Purtajaya on the 1st of February.Probably that's why no one answered.

    ReplyDelete
  33. Thank you. I just called BNM - the officer said all these is 'khabar-khabar angin'. So far no news and case is still pending. Told not to believe all these news! Then I called Bestino office - they say Krishnan already came back with the the letter of proof of funds and chong will be giving the letter to BNM soon to open up their a/c cos now its frozen! Then he will make a press conference. What the heck, just got no idea what fools they making of us.

    ReplyDelete
  34. Krishnan only has a "letter of proof of funds". Not the funds yet. A couple of weeks ago we received a SMS saying that the proof of funds already submitted to BNM and waiting for their feedback. Now its a different story from BNM.

    Is Chong and his gang taking us for another Gala Ride? If they were sincere, they would have given us overseas cheque long time ago or return us back in gold bars.

    ReplyDelete
  35. Was there a report on the Tamil papers of Chong giving a press conference recently ? If that is true, then how come not reported on other mainstream media. Looks like the BNM officer's explanation makes sense.

    ReplyDelete
  36. This morning at 11 am there was a press conference by the action committee at the chines assembly hall KL. They also forward a letter to BNM.Tv3, Utusan, Free Malaysia Today, Tamil & chines press was present.

    ReplyDelete
  37. http://www.freemalaysiatoday.com/2012/02/03/allow-bestino-to-bring-in-our-money/

    KUALA LUMPUR: Embattled Bestino investors want Bank Negara Malaysia (BNM) to give the company permission to bring in funds from abroad to repay them.

    The investors, who formed a Bestino action committee, have sent a letter to the effect to BNM assistant governor Abu Hasan Alshari Yahya.

    They are seeking for a meeting between BNM, Bestino management and investors to resolve the matter.

    Speaking on behalf of the investors today, Party Sosialis Malaysia (PSM) national deputy chief, M Saraswathy, said that there were a few contradictions in the statements issued by BNM and Bestino management.

    She cited a recent report in which Bestino director Chong Yuk Ming had said that the company was liquidating its assets in foreign countries to pay the investors here and that it was waiting for BNM to give them the green light to bring the money into Malaysia.

    Bestino, an Ipoh-based gold investment scheme company, was raided by BNM and the Securities Commission (SC) in June 2010, on suspicion of illegal deposit-taking. Some 6,500 people had invested a total of RM411.19 million in the company.

    It is learnt that Bestino owned 36 gold mines abroad including two in Papua New Guinea despite BNM claiming that not a single gold mine exists under the name of Bestino.

    Saraswathy claimed that Abu Hasan had told the investors at in a press conference today that Bestino was reluctant to cooperate with BNM and had also failed to produce the details of the company properties to BNM.

    But Bestino had in a letter to its investors clearly indicated that the company had suggested that BNM release its properties, which were frozen, to enable them to repay the investors.

    Parties must meet

    According to Sarawathy, the investors are “still in the dark” over the contradictory statements by both of them.
    She added that the best solution for now is for all three parties to meet.

    “So, BNM must come out with an immediate action to solve this longstanding matter,” she said.

    She also urged BNM to reveal the full details of its investigations into the case.

    The amount seized by BNM during the raid was RM20 million when the total money collected was RM411 million.

    “So, where is the money?” she asked.

    “This is a public interest matter and the 75% of the investors are poor people. We hope BNM will expose the rest of the ‘missing’ amount soon.”

    Saraswathy also said that the investors were planning for a massive gathering in front of BNM headquarters, if the institution remains silent on this matter

    ReplyDelete
    Replies
    1. Any time frame given to BNM to respond? Good initiative from Saraswathy/Action Committe to press on for this type of long-overdue meeting between BNM, Bestino and Investors' Representatives. Keep us all in the loop on further development on this matter.

      Delete
  38. Looks like it's still a very long way to go in resolving all this mess. Mean time lets enjoy the royal fuck that Chong is doing on us. Cheers...

    ReplyDelete
  39. We are still in the same forest where we were from the start of this unfortunate mess now coming to 3 years.
    Chong was only trying to be passive by using a tea cup to extinct the fire in us. If he was serious he would have by now lived true to his past numerous promises but remember a con man is a crook and a great story teller to keep taking in us in circles.

    ReplyDelete
  40. A commendable action by the Action Committee and Mdm Sarawathy. Really appreciate this.

    What the hell is going on with Bestino and BNM. Bunch of ..... oh no swear and curse words :)

    ReplyDelete
  41. It has been a long wait and stressful.Why the Hell the Conman is still on the loose and free I cant fathom this.Even those committing minor crimeS can swiftly be brought to justice. In this case the MF@@@@@ has cheated more than 6000 investors sum of RM400 MILLIONS and no action taken ????? Those Bestino Guys should be hung upside down and whip 40 times each.INVESTORS prepare to be taken for a royal F for another 3 Years ??????

    ReplyDelete
  42. Malaysia Nanban reported that 6,764 investors in a gold investment scheme want-ed Bank Negara to give the company permission to bring funds from abroad to repay them.

    After meeting the investors in Kuala Lumpur, Party Sosialis Malaysia (PSM) national deputy chief M. Saraswathy claimed that a company director said it was liquidating its assets in foreign countries to pay the investors here and that it was waiting for Bank Negara's approval.

    The Ipoh-based gold investment scheme was raided by Bank Negara and the Securities Commission in June 2010 on suspicion of illegal deposit-taking.


    The question is...does Bestino really have the funds to pay back all investors? Chances are after the accounts are unfreeze, they might sapu all their money and gulung tikar....We need some form of collateral before they return back the funds in full

    ReplyDelete
  43. That is simple - make it the same with swisscash. Bestino transfers the money to BNM instead of their own account or us, then we claim the money from BNM. Alternatively, opening Bestino's account does not mean money should be there or they control it. BNM can always put a control on withdrawal.

    ReplyDelete
  44. Really the money hold by BNM or BESTINO? Why bestino still telling to us BNM hold the money ! But when ask BNM they said they not involve on this! What is this?

    ReplyDelete
  45. Chong supposed to make press statement - what happened? Shows that again this is all a lie. Every festival - they come up with the Hong Kong story. When Hari Raya - they go Hong Kong. Deepavali, Christmas, now CNY - always got festival, they tell us going Hong Kong. See how they are cheating us? Like the pain not enough, they make us go through all this again and again.

    ReplyDelete
  46. The govt not any better - see how Bank Negara keeping quiet. I have written to all the govt officials - no one replied. Even Najib keeping quiet. Next election, make sure vote for the opposition. This Govt not helping us at all.

    ReplyDelete
  47. They know we are fools who will believe all their bullshit. I fail to understand why till now you people keep on buying all this crap.

    You can kiss goodbye to your money. Just learn from this mistake and don't repeat it again. No company/organization is so generous that they are willing to give the public high interest.

    If ever you decide to invest in anything in the future which gives high return(>6% per year), make sure you do it in short term. Pull back all your money after 1 year or so. Don't be taken by their sweet talk. Usually most corn artist will "Go Bust" after 2 or 3 years in operation. That's how they make their maximum profit from people like you and me. Their 1st year is to gain peoples trust and build their network. 2nd year they will restructure the investment scheme...after that they will "Gulung Tikar" and run away with all the money.

    You need to be an active investor...not passive. Don't just park your money in one place and wait for the returns. If you do that, you will be taken for a "Royal Fuck".

    ReplyDelete
  48. Had most of the investors being Malays or Muslims,as opposed to idol-worshipping toddy-drunk Hindus, I wonder if Putrajaya, Bank Negara or the PM's office would have shown more sympathy and acted expeditiously. How pathetic the whole charade is of Malaysian officialdom!

    ReplyDelete
  49. Folks,

    This is what I got from BNM. I will only show the contents of the mail. Here it is: -

    Tuan,

    Kami merujuk kepada e-mel tuan bertarikh 3 Februari 2012 mengenai perkara di atas.

    Kami ingin memaklumkan bahawa syarikat Bestino Group Bhd telah didakwa di mahkamah dan perbicaraan akan bermula pada 20 - 23 Februari 2012. Keputusan sama ada wang pelaburan akan dipulangkan kepada pelabur adalah bergantung kepada keputusan mahkamah.

    Sekian, harap maklum.

    ReplyDelete
    Replies
    1. The above is official in writing. So if anything other that this comes from Bestino or BNM or others, get it in writing or else take the news on face value. Do not believe it 100%. I am getting bloody disappointed too.....

      Delete
  50. Can someone in contact with Krishnan get him to comment on the above letter from BNM vs his claim that the money is already in the account?

    ReplyDelete
  51. Made to understand Chong will be making a press statement this coming Monday.
    How true or what it's all about only time will tell.
    Keep our fingers crossed and hope for the best.

    ReplyDelete
  52. agents, you too are taken for a ride, how may times, these people had told you to tell the investors that they will be paying in 2 or 3 months' time. Pls confront these directors and push the them to pay.

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  53. Bestino must come out and make their statement right away. You have made the investors piss off with your stories.. So it is your duty to make a public statement. If you are genuine, than you have to clear the air.

    ReplyDelete
  54. Thank you to Mdm. Saras for all the tireless effort you and your commitee are pursuing to claim back the investors money.

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  55. Was briefly informed that Chong had a press conference today and investors were promised that the money will be returned after April 30th.

    Lets be positive and hope for the best

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  56. After April 30th seems infinity (time without end). Why can't Chong say before when and be more specific.

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  57. today press conference on sin chew jit poh chinese newspaper , today evening newspaper(late night newspaper) show that YM CHONG picture holding HSBC PROOF OF FUNDS document.

    ReplyDelete
  58. u can go to http://www.flickr.com/photos/alvinchunchow/6863318345/in/photostream to see CHONG holding PROOF OF FUNDS DOCUMENT

    ReplyDelete
  59. Yes, Chong has apparently seen holding a piece of paper claimed to be proof of fund this time, but wondered anyone from the press has actually got a close look at the alleged document and verify it with HSBC Hong Kong. Secondly, as much as it sounded to be true from the press statement, there is still an important caveat statement mentioned by Chong which should not be overlooked, ie "if everything goes right or if there is no unforeseen circumstances", money will be returned to all investors in one lum sum direct into individual bank a/c by April 30th. Still there are many unanswered details, such as which legal firm has been appointed to do the refund, whether letters were sent out to all investors to verify the details of individual banking details for the purpose of the refund. who and how individual could contact if there a delay or shortcomings in the process of refund. It would be more sincere and efficient if Chong and his appointed legal party can work with Mdm Saras and the Action Committee who can definitely help to co-ordinate and iron out all the fine details and monitor the refund process in order to ensure that no one is being left out. Dun forget the next hearing for their case is coming up soon, so this press statement might just be another tactic for Chong and his gang playing to their favour in anticipation comes next court hearing for them. Call me a sceptic, you may, coz there had been too many empty promises made by Chong over the last two and a half years that we have all heard at different occasions. So, to me and many other s out there, a simple press statement from Chong is not a good reassurance. Having said so, we all just have to WAIT and hope for the best, hope that Chong's statement will really come true this time round.

    ReplyDelete
    Replies
    1. yes, i had saw chong pic holding the HSBC letter with the word , PROOF OF FUNDS , u may save the picture and zoom to take a closer look to see the word PROOF OF FUNDS

      Delete
    2. I believe Bestino is under a legal action for Money laundering and that all its assets are being frozen. How have they brought in the funds. Will the authority take action to freeze the money.
      Bestino has been taking us for a ride for the past 2 years and this news I find it hard to believe. If Bestino is sincere, I suggest they give a written instruction to HSBC bank to inform public via the press that it is holding the money and that there is no government restriction on the said money

      Delete
  60. I agree. If Bestino has cheated the rakyat's money and they can show that they have the money, why no authority is taking any any to get the money back? Even if the money is overseas, the govt can freeze the money and pay us back. There are many cases where people have cheated the public and the govt has acted - in other countries. In M'sia????? All pretend they cannot do anything. If the court finds Chong guilty and put him in jail even for 1 year - we can forget our money cos no way after that any action can be taken. Chong will come out of jail and will be a free man to enjoy his 400million. Chong all the while say BNM has to approve - now he make press conference but no mention of BNM. How come????? You think this govt really for the rakyat?

    ReplyDelete
  61. AnonymousJan 27, 2012 08:16 PM
    Hello there securing so called proof of availability of funds that's parked outside M'sia is no big deal.We were told this same rubbish many times in the past.Has that so called amount been shown/verified by any of the investors yet? No isn't it.
    We are again taking YM's bull stories as truth without thinking.What's holding up the repayment for the next 2over months if the money is REAL surely Bestino can issue us with foreign cheques if they are not too sure about BNM's hidden move!We do not mind paying the bank charges if so be the case.
    You can safely bet we are in for further rotting rubbish from this crook.
    After having been fooled so many times by this mother fucker be prepared for more bull stories.
    Chong did mentioned yesterday payment depends if everything goes well without:-
    Note: Secondly, as much as it sounded to be true from the press statement, there is still an important caveat statement mentioned by Chong which should not be overlooked, ie "if everything goes right or if there is no unforeseen circumstances"

    ReplyDelete
  62. Folks, let's not get carried away with the press conference details. BNM has said only the Courts can decide on the return of the money and this was in writing. I hope some of us can attend the coming court hearing Feb 20-23 to actually see what goes on. Of course, provided it does not get postponed lah !

    ReplyDelete
  63. keep in mind that it under courts case now and the judge can say that must wait settle which could take many years

    ReplyDelete
  64. The english article in the star

    http://thestar.com.my/news/story.asp?file=/2012/2/13/nation/10726623&sec=nation

    ReplyDelete
  65. benda yang tak tentu lagi. berdiri atas jambatan yang tak kukuh

    ReplyDelete
  66. This is good news indeed. Chong said in the press conference that we will be paid by 30 Apr. Now let's see what the bloody BNM says. I guess they will try and delay and make excuses while they find ways to keep 90% of the money for themselves.

    If Chong has shown BNM the proof of funds, BNM should expedite the funds coming into the country and paying us back. We now see how BNM works.

    ReplyDelete
  67. I agree. BNM or at least some authority should step in to get Chong pay us back immediately cos the money is already in HSBC - so whats the problem? Afterall, it is our money, not the govt money. Najib and so many others have got our petition and email - so what are they waiting for. I won't be surprised that they will keep and use the money for elections. If we don't get our money back, make sure all of you vote for the opposition.

    ReplyDelete
  68. Opposition has been helping us. So sure vote for opposition.

    ReplyDelete
  69. BNM, You asked Bestino for the Proof of Funds and they have shown this to you. Now the ball is in your court. Please come out with a press statement on your plans to transfer the money to Malaysia and pay us back.

    No excuses please!!! We want the money by 30 April

    ReplyDelete
  70. I was going though some of the old messages and found this(pasted below). Do you think can trust this guys again???

    YM CHONG (FROM HONG KONG) CALLED KRISHNAN OF BESTINO TODAY (17/11/10), INFORMED THAT ALL MATTERS HAVE BEEN FINALISED. THE REFUND TO BESTINO CUSTOMERS WILL BE IN FULL AND IN (5) PAYMENTS. THE FIRST PAYMENT OF AT LEAST 10% IS CONFIRMED BEFORE THE END OF DECEMBER 2010. THE REMAINING (4) PAYMENTS WILL BE ON EVERY (30) DAYS THEREAFTER. PLEASE HELP TO PASS ON THIS MESSAGE TO ALL BESTINO CUSTOMERS. THANKS.

    ReplyDelete
  71. The beautiful part of this whole saga YM Chong never meams to have run out of his bull shit stories.Hope he has enjoyed screwing us and has had enough.
    1st the sale of the dust mines in PNG followed by change of buyers from China at every junction.
    Then it was transferring the money from China to HK only to be followed by selling of overseas assets.
    We can only keep hoping that this time we are seeing the light at the end of the tunnel and that YM has reached his climax

    ReplyDelete
  72. Guys, Bestino has come up with a public statement that they have shown the proof of funds to BNM. If this is not true, then BNM will issue a statement to that effect. We have come so far. Let us not speculate but wait for BNM's reply to today's statement.

    ReplyDelete
  73. Yes. Lets give them the chance to clear things out with BNM so that they could return back our money as soon as possible. Lets be positive so that the good energy will multiply and we can achieve success.

    ReplyDelete
  74. From the press statement in the Star, there is no mention that Chong has given the proof of funds to BNM. BNM's name is not mentioned at all. From what I know, BNM will not respond unless their name is brought into the picture.

    ReplyDelete
    Replies
    1. The press release says, "The funds are now in HSBC Hong Kong,” he said yesterday while showing the proof of fund letter from the bank."

      But you are right, it does not say that the proof of funds have been shown to BNM.

      Perhaps the Committee can follow up with BNM to see if they have received the proof of funds and what is their response. By right, if BNM has been given the proof of funds, they should not wait for court order. They should allow Bestino to bring the funds in and disburse to us.

      Delete
  75. When I spoke with BNM some time ago, they said that if Bestino returns the money to investors before the court hearing, then the court most likely will tend to be more lenient with BNM.

    Hence, BNM cannot insist that they wait for the court hearing before disbursing the funds. If BNM has shown them the proof, then they should react immediately.

    ReplyDelete
  76. hello guys please be positive and only think of good, don't be negative. Let the positive vibration beat the negative thought.

    ReplyDelete
  77. If Chong REALLY has the money in HSBC HK, than we all sign a settlement agreement with him through his law firm that we are ready to accept our capital back and will take no other action against him to claim for loss of income etc. we basically indemnify him and he instructs HSBC to wire transfer the money back into our accounts directly. What so complicated?

    ReplyDelete
  78. To the BESTINO Man who reads this Blog:

    If you already have the funds, you can proceed to start the return process NOW. In your press statement, you did not mention BNM. So what is the wait for ? The funds would not have dropped from the sky overnight. You would have known some weeks back before this happened. During that time, you could have started to appoint the relevant parties to undertake the return process. Why all the wait and talking to the press only now ? Please talk to the Action Committee and BNM together on your next move. And then you can make all the press statements you want. If you are true to your words, then show it. Don't hide behind the press. Meet your Investors Face to Face and tell them what this whole thing is about. Thank you.

    ReplyDelete
  79. BESTINO Man dont give no shit, and why cant comments be pasted thru Mozilla? I am using Chrome to put comments.

    ReplyDelete
  80. I have changed the comments form to be a separate pop-up window. This should work better for IE and Firefox users.

    Let me know which format you prefer or if you have problems with this format.

    ReplyDelete
  81. If YM Chong is a cheat, he should have closed shop and said "Bye Bye" 3 years ago!

    ReplyDelete
  82. Not true - see all the other cases. The directors never ran away. They just wait, court jails them 1 or 2 years, fine them 1 or 2 million. Then they are free - no need to be on the run. Then they enjoy all the money they cheated from the poor people. See geneva case - director is being charged in court and still can open new geneva and do the same business!

    ReplyDelete
  83. OK, let time to prove YM Chong is gentleman or not!

    ReplyDelete
  84. YM Chong IS GENTLEMAN

    ReplyDelete
  85. Can the Committee or anyone in contact with BNM check with BNM whether or not Bestino has shown them the proof of funds and are in discussion with them? Confirmation of this will stop speculation and we can move forward.

    ReplyDelete
  86. After we receive our money in full from Bestino, hope that they start back the same scheme, only this time they give us gold bars instead of paper.

    ReplyDelete
  87. Genevva is doing it - giving gold bars.

    ReplyDelete
  88. Called BNM, the have no comments and will not comment till the next hearing on Feb 23-25. I even asked if its published in Star paper is true enough will be paying us off. The answer was no comments. I just dun get it.

    ReplyDelete
  89. I get it. BNM is just being a $#$@$%. They do not give a shit about us. If we were majority other colour, then the answer would have been very different. They will be doing their darn hardest to help the investors. Why must they wait for court decision first. Why cannot they let Bestino go ahead and pay us back. Bloody BNM. We have to change the government in the next election. Don't be foolish enough to trust these bastards.

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  90. Friends, This govt is corrupted. Someone big is protecting chong & making the money. Otherwise you think Najib, etc will not take action? This govt is bankrupt - they swindling all the money from the people. You have read about I-Care? I won't be surprised that they will use chong's 400mil for the election. I also want to know just 1 thing - what happened to the gold bars that chong took back from us just before BNM raid? Where is it? Why chong never want to say what happened to the gold? Suddenly all the gold missing. He sell all his assets overseas for 400mil - this is big money but why no news at all in any papers - local or overseas papers?

    ReplyDelete
  91. WHY DO THEY NEED BNM PERMISSION TO PAY US???

    ReplyDelete
  92. Dear all, please be patient to wait as YM Chong, Bestino has been laboring to do their job until the present stage. Stop calling BNM as those staffs whom you contacted are officers/receptionists and they are not the right persons who can provide you the correct info, rather they will simply bra, bra, bra... nonsense (local culture).

    All the guessing and unfounded opinions will neither be of help to any parties. Just wait for another short while as YM Chong has given the specific time frame during the press conference.

    ReplyDelete
  93. Bestino phone line dead.

    ReplyDelete
  94. Agreed. We have waited so long. What is another two months. In the meantime, let's go to the court hearing and hear for ourselves what is happening.

    ReplyDelete
  95. Does anyone know when and where the court hearing is? I would like to attend.

    ReplyDelete
  96. Called bestino. Court case postponed to 23 april

    ReplyDelete
  97. When is MF Chong going to return our money.

    ReplyDelete
  98. He already said by end of April. Patience a bit-lah. We waited already how many years. Now the last mile. Relax a bit and let him sort things out with BNM.

    ReplyDelete
  99. Last mile? Maybe you are new to this blog - please go back & read all the other times when chong assured he will pay by XXX date, then no news, then will pay by another date, then no news.

    ReplyDelete
  100. Well now he has given a firm date publicly through the newspapers. Its not like the wishy washy dates like before.

    ReplyDelete
  101. Hello last year he gave a date in papers too. Anyway I am keeping my fingers and toes crossed. I want my money back very badly

    ReplyDelete
  102. Last year he did not specify a date. He just said that our money will be paid through BNM. That is why I am more positive this time around. And I desperately need my money back. So I am keeping all my fingers and toes crossed as well. :-)

    ReplyDelete
  103. Again the court hearing is postponed? What is BN doing? In fact, if Chong is willing to pay us, why should he needs to go thru BNM? He can ask us to go down to singapore to open an acct there and from there, he deposits all the money into our acct so that it will not interfere with the government!

    ReplyDelete
  104. Again the court hearing is postponed? What is BN doing? In fact, if Chong is willing to pay us, why should he needs to go thru BNM? He can ask us to go down to singapore to open an acct there and from there, he deposits all the money into our acct so that it will not interfere with the government!

    ReplyDelete
  105. Remember he say if all goes well - what is all, he did not say. Why the delay, why cannot pay us immediately if already got the money? He did not mention BNM in the press, how come? Always no reason given or explanation, why? Its our money & we have a right. This govt is useless, all corrupted. The moment chong said he has the money, any good govt will immediately act to get the money back for the people.

    ReplyDelete
  106. Just called Bestino office and was told Chong has promised to pay us full amount by April 30th.

    ReplyDelete
  107. The next time someone calls Bestino, could you check how they plan on paying us - by cheque or through the account that they were paying our interest? Also, do we have to register with them or will they automatically pay us? Will they pay out through BNM or through Bestino? I will try calling them as well but am finding difficulty in getting through. Appreciate someone calling and updating through the blog.

    ReplyDelete
  108. The next hurdle is Bank Negara. The money is still in Hong Kong. Mr. Chong, if you are reading this, hope your solicitors know what they are doing. Have you got clearance from Bank Negara? The last time your good office screwed up was because of the non-compliance with the security commission. Do not repeat such foolishness this time. And until you are sure that the people will get their money back by end of April 2012, do not give any false press statement. You will make everyone very very angry.

    ReplyDelete
  109. Mr Chong, God forbid you are not again orchestrating an ill-advised farce. If so, you have one more very very angry victim!!

    ReplyDelete
  110. YM CHONG says: "There's someone in my head, but it's not me."

    ReplyDelete
  111. Kudos to the Action Committee on their statement in today's papers.

    ReplyDelete
  112. Today's article in The Star online:

    http://thestar.com.my/news/story.asp?file=/2012/2/22/nation/10778879&sec=nation

    ReplyDelete
  113. BNM must be staffed by idiots if they want to wait for the court case and let the judge decide to return our money or not.

    They are using a different case as the precedent. But in that case, BNM seized the money and the court ordered BNM to pay the money back to the investors.

    This case is different. Here Bestino wants to return the money back to us. They are asking BNM to allow them to return us the money. What the #$@%^ is wrong with BNM. They have shit in their brains.

    ReplyDelete
  114. Yes - BN shit inside their brains. BN shit all over this country. Must get rid of it by next election.

    ReplyDelete
  115. In any other country, the Central Bank will be very happy to have so much money coming into their economy.

    What the hell is BNM waiting for? Bestino wants to bring in RM440mil. Wouldn't that be good for the economy? What the hell are they waiting for? If Singapore, they would have facilitated the return by now already.

    BNM, cepat sikit-lah. We want our money back in full. And keep your dirty hands off our money.

    ReplyDelete
  116. Maybe BNM has ideas to charge the investors as well - for taking part in an illegal deposit investment schemem. They may be having their eyes on OUR money as well, who knows?
    They are not bothered whats good for the economy, only looking for technicalities to charge us as well, that's why they are mum.

    ReplyDelete
  117. They will be the laughing stock in the world if they try to do that. How were we to know that Bestino was an illegal organization. I called SC before investing and SC said that they are legal. My agent said that they had BNM approval. We are not auditors or financial people. We cannot determine if an investment is illegal. Government bodies like SC and BNM have an obligation to protect us. Better if BNM brought themselves to court for failing to carry out their duties in finding out about the scheme in a timely manner.

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  118. Don't be surprised they use all our money for election by some trick. Then they will appoint auditors for the release of our money & the auditor will be one of their cronies making huge money as commission. Useless govt. I sure vote for opposition. After so much appeals, memo, demo & Bestino saying all depends on BNM, still BNM / govt can keep quiet?

    ReplyDelete
  119. The standard reply from BNM will be for us to wait for the court decision, i.e. let the judge decide about our money. And the darn case keeps getting postponed every time.

    ReplyDelete
  120. In April 13 2011 there was a case against Raja Noor Asma, director of FX Capital Consultant (M) Sdn Bhd and FX Consultant. The Judge stated that “It is not the function of the Government to recover their hare-brained investments”. So be prepared that the court will not or need not ask Bestino to return our 'illegal' deposit. In theory, the court cannot get involved in return of 'illegal' money. The job of the court is to just fine or jail chong.

    ReplyDelete
  121. Let's hope Chong does not take advantage of this situation of hare-brained investments. According to today's Star, the Bestino Action Committee is launching a signature campaign. Hope of all us join the campaign, and that the Bestino Action Committee gives us their contact numbers.

    ReplyDelete
  122. Refer to http://biz.thestar.com.my/news/story.asp?file=/2011/4/23/business/8533409&sec=business
    dated April 23, 2011

    In the main charge, they (founder Chong Yuk Ming, 49, and former corporate advisor S. Balachandran, 56) were both as directors of the company, accused of issuing 400 million redeemable preference shares (worth RM400mil) without a prospectus registered with the Securities Commission (SC).

    In the alternative charge, they were both accused of distributing application forms for the redeemable preference shares, without them being accompanied by a copy of a prospectus registered by the SC.

    ReplyDelete
  123. Dear God, please help us.
    Dear BN, please help us.
    Dear Action Committee, please help us.
    Dear Mr. Chong, please help us.

    ReplyDelete
  124. Dear friends, some are still posting at the old blog - I use Internet explorer to read the old blog & Chrome to read this.

    ReplyDelete
  125. Lets make sense of this whole thing. What happens if the court does not mention anything about the return of money? What is stopping chong from issuing us foreign cheques or bank transfer direct to our account from Hong Kong? If chong pays us back, how is it going to effect the court case? BNM has already said they not involved in the return of the money - so what's the problem TT the money to us from Hong Kong? If they court fines or puts chong in jail - then what happens to our money? Who going to get it back? I don't see a connection between BNM, the court case and chong paying us back if he is sincere. No need to wait.

    ReplyDelete
  126. I agree. If Bestino pays us back before the court case, the court will be inclined to look more leniently on him.

    Mr Chong, I suggest that you forget about BNM and pay us through the foreign bank. We are willing to sign a document saying that we have received back our money. You can collet all these documents as proof to the court that you have paid us back.

    ReplyDelete
  127. Today's article on StarOnline:
    http://thestar.com.my/news/story.asp?file=/2012/2/23/nation/10788631&sec=nation#13299546510361&if_height=401

    Most of these investors are Chinese. MCA is going to talk with BNM on how to get their money back.

    What is the useless MIC doing for us? They only come around during election time. Their purpose in office is only to help themselves. They do not have a single care for the ordinary citizen. Guys, do not be foolish anymore. DO NOT VOTE for MIC in the coming election. Wake up!! They have really shown thier true colours in the non-handling of the Bestino case.

    ReplyDelete
  128. http://thestar.com.my/news/story.asp?file=/2012/2/23/nation/10788465&sec=nation

    PETALING JAYA: Bank Negara has clarified that it cannot return the frozen assets of gold investment scheme operator Bestino Golden House Sdn Bhd.

    Bank Negara said the assets seized from the litigation-embroiled company amounting to RM24.2mil could not be released until the court proceedings were completed as they were being held as evidence.

    Four directors of Bestino were charged in the Sessions Court in Ipoh on Feb 23 last year for allegedly conducting illegal deposit-taking activities for suspected money-laundering offences.

    Bank Negara also denied claims that it had hindered the return of assets, purportedly owned by Bestino, which it did not seize.

    “Bestino is free to return any purported funds claimed to be in existence to the investors as previously stated in our press statement on Aug 11, 2011. Approval from Bank Negara Malaysia is not required,” the central bank said in a statement yesterday.

    It said Bestino had also not responded to its request for a date to hold a tripartite meeting with the investors.

    The suggested meeting was to provide an opportunity for Bestino to explain any purported plan to refund investors and for the investors to consider the restitution plan to be offered by Bestino.

    In a news report on Dec 2, 2011, the Ipoh-based company said it would return every sen put in by investors.

    Its managing director Chong Yuk Ming said the company had liquidated all its assets in India and China and raised US$146mil (RM438mil).

    It was reported that Chong and three other company directors were charged in the Ipoh and Kuala Lumpur Sessions Courts with more than 300 counts of money laundering and receiving deposits without a valid licence.

    ReplyDelete
  129. Thank-you Bank Negara for responding back. There are two very interesting things in their statement:

    1)“Bestino is free to return any purported funds claimed to be in existence to the investors as previously stated in our press statement on Aug 11, 2011. Approval from Bank Negara Malaysia is not required,” the central bank said in a statement yesterday.

    So Bestino is free to return us our money. There is no need to get BNM's approval.

    2) It said Bestino had also not responded to its request for a date to hold a tripartite meeting with the investors

    Looks like Bestino is the culprit and not BNM

    ReplyDelete
  130. YM Chong,

    BNM says you do not need their permission to bring the money back and return to us.

    You have the funds and you have BNM's statement that approval from them is not required. So we get our money by 30 April, right?

    ReplyDelete
  131. Okay lah people. Lets leave Mr. Chong alone and wait for April 2012. Since BN has made their clarification, let Mr. Chong do his job. Give the man the benefit of the doubt.

    ReplyDelete
  132. Sounds fair. Only 2 more months to wait. But before that, he has to tell us how he is planning on paying us back - cheque, bank account, etc.

    ReplyDelete
  133. Make no mistake .... BNM is also a devil in disguise! Their statement says Bestino is free to refund the investors, but more importantly they did not say that they will not FREEZE the funds the moment its brought back to Malaysia and I believe Chong is trying to work around this. How can anyone in his right mind would completely trust a government agency.

    ReplyDelete
  134. Simple solution. Pay us by foreign cheque.

    ReplyDelete
  135. What Bestino needs to explain is why it has not agreed to a tripartite meeting with investors as proposed by BNM. BNM wants Bestino to meet together with investors to explain how they plan on bringing the money and repaying the investors. This is a good move. Why Bestino has rejected this? What have they got to hide? Are they serious or not?

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  136. Why doesn't bestino agree to hold a meeting with investors. I don't trust bestino at all. Are there really any funds . Hey mr chong. Dont be a chicken . Meet us. Show us the funds.

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  137. I smell a rat. I don't think there are any funds. Mr Chong is a liar. And bnm knows it .

    ReplyDelete
  138. Appreciate if the Action Committee could initiate this tripartite meeting with both Bestino and BNM.

    Chong, please show your sincerity by agreeing to this tripartite meeting.

    ReplyDelete
  139. I believe YM Chong is doing his best all the while, time will prove!!

    ReplyDelete
  140. Dear YM Chong,

    You have got the investors excited by your recent press statement. We want to believe. However, there are still some lingering questions, especially around how you are going to pay us back.

    On your part, there seems to be some apprehension on whether BNM will freeze your money once you bring it in from Hong Kong.

    So why not agree to a tripartite meeting as proposed by BNM? You can bring your lawyers. Once your have spelled out your plans in front of BNM and the investors and BNM agrees, they cannot go back on their word and freeze your new account as this was said in front of too many witnesses.

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  141. Some of you are so clueless! BNM has categorically stated many times that they are not and will not be a party to any refund scheme. Its between Bestino and investors. Since that is the case, why the tripartite meeting? This two statements are contradictory. What is their motive? BNM is charging Bestino with money laundering. You cannot be a prosecutor and arbitrator at the same time. Problems with conflict of interests and impartiality because of vested interest. All I want is my money. Get BNM out of the equation so there will be no more excuses. Bestino can pay me with foreign cheques or anywhere outside Malaysia if necessary.

    ReplyDelete
  142. As much as I hate to say it.. But I think we wont be getting the money back! YM Chong chose 30th April, why so far away given that money is already in his HK account.. I will tell you why.. its to keep all of us shut till his court case on 24th.. its to keep him safe so nobody harms him till then.. and then on 24th he might plead guilty and get sentenced and then u can say bye bye to ur money forever..

    there was no gold mine in the first place.. it was a Peter pay Paul scheme all this while.. I may be wrong but i dont think so in this case..

    he has no more excuses now.. BNM said he can transfer the money overseas back.. but let me tell you.. 30th april will come and go and we will be left crying!

    ReplyDelete
  143. Let's see. Now he has no excuse. According to him funds are there. Bnm has no objection. So why wait. Now we will see if mr Chong is lying!! No one will have mercy for him if he is. The court should give him life imprisonment for all his lies. There should be a lot of publicity so that judgement will be extremely severe

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  144. If BNM has publicly offered a tripartite meeting, why not take them up on it? It will put everything out in the open and we do not need to speculate here.

    The people refusing are Bestino and this does not look good on them.

    ReplyDelete
  145. A tripartite meeting is also necessary as Bestino is seeming to give the excuse that they are afraid to bring the money into the country as they are sacred that BNM will freeze the money when it is brought in. A meeting with BNM will clarify the situation and put things in the proper perspective. Dialog is always better than speculation.

    ReplyDelete
  146. The statement in the judgement concerning investors in the case against Raja Nor Asma of FX Capital Consultants in April 2011 is in itself hare-brained. The position of Government in this ought to be addressed with reference to Constitutional law: the dereliction of duties of a central bank to an aggrieved public, however hare-brained is the large group of misguided investors. I am in touch with a firm of Constitutional lawyers who we may have to use, pending outcome of the forthcoming case.

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  147. I am not paying any money to any blood-sucking lawyer. Bestino has said that they are paying us before 30 April. I guess they will pay us by 23 April, i.e before the court hearing on 24th.

    ReplyDelete
  148. For those of you who believe that BNM will play a role in helping us get our money back ....please take the effort to educate yourselves on the legal process as well as criminal proceedings instead of shooting off the cuff. If you can post here, you can click google. The law as well as BNM has no human persona, meaning no emotions. In their eyes what is right is not necessary correct. The legal process takes precedent!

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  149. Read carefully instead of jumping to conclusions. Nobody is saying that BNM will play a role in helping us get our money back. All BNM is saying is that they are willing to be a part of a tripartite discussion in which Bestino will lay out their plans to pay us back. They are just helping to facilitate this discussion and not getting us our money back. And I see no harm in participating in this discussion. It is to our advantage. Problem is Bestino refuses to participate.

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  150. Its you who should read carefully what you just wrote..."helping to facilitate" ... Why do you want BNM to be a part of any discussion if you do not believe they can help you in getting your money back or do you not know what a "tripartite meeting" means. Aren't you are contradicting yourself??

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  151. Dear all, what you could think of, YM Chong knows better than you do. Probably Bestino cannot simply do anything they wish to and it require time to process all necessary procedures because we are in the bolehland. Just leave it to Bestino and wait...

    ReplyDelete
  152. Lets all go to Bestino office & demand our money back. No need BNM or anyone else. He can pay us via TT from Hong Kong or give us foreign cheques. Why wait - BNM has cleared the matter. I doubt BNM will go back on this because its in the papers more than once. If Bestino's a/c is frozen, maybe BNM is helping to explain to us how we can get the other money back. Let get chong to pay us - no need to wait till April - chong is trying to cheat us again and again, this time we cannot let him go. We must do it before the court hearing. The court hearing is only for the 24mil - thats all.

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  153. Yes, we must settle this before the court hearing. Otherwise all our money gone. Lets do it once & for all. Forget about BNM - lets get this done. Chong is a liar - he never mentioned about the tripartite meeting - why? Even if it was not tripartite, at chong should have met with BNM directly and informed us. But all this while, he blame BNM. He blame BNM even after BNM say they are not involved in the return of the money. You guys still trust chong. PLease think a bit. Chong is cheating us & postponing till the court hearing. Lets get him before that. Forget about the 24mil and the case.

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  154. http://www.theborneopost.com/2012/02/24/bank-negara-cannot-release-seized-bestino-assets/

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  155. Please people stop fighting. Just give Mr. Chong the benefit of the doubt. Just have a little fate and wait until April, 2012.

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  156. BNM's statement on the paper stating that Bestino needs not approval from them to bring in the fund to repay investors is probably from a spokesman/officer of BNM. Dear investors, please ask BNM to issue an official letter to Bestino. Please do not trust what is said on the paper.

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  157. Bestino is the only one not willing to participate in a tripartite discussion. The person in this blog who has been writing against BNM' participation must be from Bestino and is trying to convince the investors not to get BNM involved. Else he/she must be really stupid.

    Below is part of BNM's statement:
    It said Bestino had also not responded to its request for a date to hold a tripartite meeting with the investors. The suggested meeting was to provide an opportunity for Bestino to explain any purported plan to refund investors and for the investors to consider the restitution plan to be offered by Bestino.

    I agree that Bestino needs time to sort out all the documentation and hence cannot immediate pay us. However, given their history over the last few years, most investors have lost confidence in their word.

    Hence, a tripartite meeting facilitated by BNM where Bestino lays out their plans to pay us back will not only provide credibility to Bestino's claims, it will also give us more confidence to believe them.

    So why isn't Bestino willing to participate in this tripartite meeting?

    Why are there people on this blog who do not want us to meet BNM?

    ReplyDelete
  158. Anonymous wrote:

    BNM's statement on the paper stating that Bestino needs not approval from them to bring in the fund to repay investors is probably from a spokesman/officer of BNM. Dear investors, please ask BNM to issue an official letter to Bestino. Please do not trust what is said on the paper

    Instead of asking BNM to issue an official letter to BNM, would not a tripartite meeting between Bestino, BNM and the investors achieve the same aim? Bestino can bring their lawyers and document officially what is said during the meeting and get BNM to sign-off.

    ReplyDelete
  159. If Bestino is really concerned about BNM going back on their word and seizing their money when it comes in, then, as has been said many times:

    give us a foreign cheque

    ReplyDelete
  160. Chong & whoever in this blog who is supporting him are cheating us. Friends, please remember we cannot wait till April because once the court makes a ruling, our money is gone. Chong can come out of prison 1 year & leave this country without any of us knowing & he will be enjoying all our hard earned poor people's money. Friends, think a bit, why cant we get chong to meet the action committee & BNM next week? Whats stopping this? We can once & for all stop all the speculation & know the truth. Why wait & all our money gone?

    ReplyDelete
  161. I fully support the call to take up BNM's offer of a tripartite meeting as this will:

    1) End investors' speculation that Bestino is not going to honour its promise to pay us back. It will help allay our doubts and fears and allow us to sleep peacefully at night.

    2) It will allay the fear Bestino seems to have that BNM will freeze whatever new money they bring into the country. They can get BNM's official sign-off of their plan during this meeting.

    I see it as a win-win for all parties. Perhaps the Action Committee can secure Bestino's agreement to participate and let us know. I would like to attend the meeting. It has to happen soon - before the court case.

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  162. please remember we cannot wait till April because once the court makes a ruling, our money is gone.

    Why? The court case is between Bestino & others. We are investors and not Bestino’s directors. Even Bestino’s staffs except directors are not involved. Do not confuse.
    Bestino is willing to refund money to his customers has nothing to do whatsoever with the court case. Different issue.

    ReplyDelete
  163. Agreed. We need to have the meeting with Bestino and BNM ASAP.

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  164. How do we get chong now from his hiding. Anyone knows where he stays or seen him recently? Lets go see him now, if possible today. We can call BNM and fix the appointment - no need chong to make the appointment. We can tell BNM that chong will be coming with us. Lets get chong, we will know for sure if he telling the truth or cheating us again. Lets not be fools and let this go. This blog has been very good - but now is final. We dont do anything now, its over. Lets get chong.

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  165. Mr Chong & fellow directors are no doubt reading these blogs. Go on, prove now to us that you guys are not the evil devils the investors think you are by agreeing to go WITHOUT FURTHER DELAY to attend the tripartite meeting. Action committee would be ready to attend any time at short notice. Please respond on this blog, and we shall get the date organised. And God and the spirits of the dead (victims of Bestino) and even the court would show mercy!

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  166. Why some of you so worried about the court case in April?? Its just a "mention", its not even at trial stage and as usual it will be postponed! Even if at trial stage, why would Chong want to plead guilty when he can drag the case till kingdom come with all the millions he has? Its obvious that BNM does not have conclusive evidence (still groping in the dark) of money laundering. Otherwise this case would have concluded a long time ago. Its the same with other cases that BNM is handling that has dragged on for 6-7 years without any conclusion in sight. At the same time, most of you do not realize the ramifications of this money laundering charge against Bestino. In a nutshell, this means all money (including our money) connected to Bestino is suspected as dirty money until proven otherwise.

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  167. We dont have to worry about anything if chong agrees to meet with the action com & BNM. All speculation & theory will be settled. Why isn't chong wanting to meet BNM? That is the only question now. Please answer that. No need any other explanation.

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  168. Can someone in contact with Krishnan call him and ask him about a meeting with BNM and investors?

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  169. Very simple why Bestino doesn't want tripartite meeting involving BNM. Those umno lackeys only manage to freeze 24m and do not know where the rest of the 400m is. So any information on those money would allow them to freeze as much as possible. Of course Bestino is not so stupid to fall into that trap.

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  170. That is just a conspiracy theory. Rumour mongering by Bestino supporters to shut the investors. Chong has already publicly said that he has the money in HSBC Hong Kong. So of course BNM knows of this account. Are they freezing it? I don't think so. See link below of Chong holding HSBC statement that serves as 'proof of funds'.

    We still want a tripartite meeting. The very fact that Bestino is coming up with all sorts of excuses shows that they have something to hide.

    If they are really honestly worried about BNM's 'double dealing', then FOREIGN CHEQUE Why can't they do that?

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  171. http://www.flickr.com/photos/alvinchunchow/6863318345/

    Should't this statement be shown to investors rather than the press. We want to scrutinize the statement. It is too blur in the photo. Can Bestino upload it to their website?

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  172. Anonymous February 24, 2012 6:12 PM,

    What are your real motives? In a meeting with BNM, Bestino does not need to give details of their bank account. They just need to lay out their plans to pay us back.

    So stop making excuses for Bestino. Or are you Bestino? The very fact that Bestino is coming up with all these excuses shows that they are not sincere in wanting to pay us back.

    We have been stupid and been fooled by Bestino once. But we have woken up. Now we do not believe their every word. We want proof all the way.

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  173. We must get chong. Is he still in Ipoh? Act Com, if you are in Ipoh, please send some reps to see chong and find out why he does not want to come for a meeting. What is he afraid off? He has shown the proof. If BNM wants to take action, they would have done so by now. All we want is for chong to face BNM and us directly instead of the press, etc.Once and for all this matter can be cleared. BNM cannot do anything to chong, if they could they would have done so by now. All lies. Dont get cheated again. Lets go get chong before its too late, this is our last chance. I have invested all my life savings and epf money, I dont want to just sit around and let 1 dam guy take away all my life's hard work. My family is in a mess cos of him. Friends, please think. Your last chance.

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  174. Bestino - promise after promise

    BNM - say take no part, then say take take part. Say no need permission but never say sanction.

    Two also putar pelit. Who to believe? Only believe yourself. Foreign cheque d best. Nobody can touch my money.

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  175. Yes. Give me a foreign chegue. I will sign a proof of receipt document.

    Foreign cheque, no need for Bestino to worry about BNM.

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  176. I support. Have meeting with Bestino. Give foreign cheque or pay in Spore or HK also OK. No worries. Everybody happy....except maybe BNM.

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  177. Hey bestino. Dam you. Answer. Tell us what steps you will take to return our money. What nonsense. Got funds but no planned strategies to how our money will be returned. Tell us how.

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  178. Standard reply from Bestino office: Bestino will pay by April 30th as stated in his press conference.

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  179. Doesn't matter who says what. Lets get chong to meet BNM. That should be the only thing we should concentrate now. BNM has opened the path, if we dont respond, we are stupid fools. We deserve to be cheated by this crook. Stop all other matters, let as many people go find this chong & drag him if we must. If we dont do this, stop all the speculation. Nothing can go wrong meeting BNM & we will know for sure all the lies chong has been saying about BNM.

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  180. http://www.flickr.com/photos/alvinchunchow/6863318345/

    please save the picture in your computer and then zoom it , u will able to see the document with the letter head hsbc and u can also see proof of fund ,not clear but u can expect to see it

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  181. Is the amount clear. Is it truly Hsbc account. Anyone can use a false letter head and print out this

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  182. Now with technology anything can be done . But I don't think Chong will dare to do this. He is already in deep shit. Is there anyway we can confirm with hsbc

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  183. The document may be real. I don't think he wants to add falsifying bank documents to his list of offenses. But was the amount written? Did anyone actually see the amount. Proof of funds can mean anything from one dollar to millions

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  184. It is not about the HSBC logo or the amount, it is what is said in the letter which we cannot read.

    This does not look like a bank statement. The letter could be saying anything.

    I agree that Chong will not falsify the document but we need to know what is said in the letter.

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