After Genneva, another gold buyback company may have gone into trouble. Channel 8 news reported on the 21st January 2013 that The Gold Guarantee’s (TGG) founder and CEO Lee Song Teck is uncontactable. Below is the news clip in Mandarin:
According to the news clip, TGG announced on 09th January that they will stop payment of 1.7% monthly interest temporarily as they are reorganising and is undergoing a merger with another company. TGG is supposed to hold 2 sessions of clients’ meetings on the 21st January to update on this matter.
However, TGG’s CEO Lee Song Teck failed to show up. Employees told the reporter no ones knows the whereabouts of Lee Song Teck.
Mr Lee Song Teck operated many other companies including Asia Pacific Bullion which has a similar business as The Gold Guarantee.
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