SHAH ALAM: Genneva Sdn Bhd, the company behind a controversial gold investment scheme, has been wound up after the High Court found it had lost its substratum and was used for unlawful purposes.
Justice Wan Fadhilah Nor Wan Idris also confirmed Wong Weng Foo, the company’s interim liquidator since August 2024, as the company’s liquidator.
Wan Fadhilah’s decision came following the hearing of a petition by Genneva director Ng Wan Yee under Sections 465(1)(h) and 465(1)(k) of the Companies Act 2016.
In brief oral grounds, the judge noted that Genneva had been criminally convicted, confirming the company was used for unlawful purposes.
