The Commercial Affairs Department (CAD) has stepped in to investigate gold buyback firm The Gold Guarantee (TGG) after investors made police reports. TGG founder Lee Song Teck has remained uncontactable since Jan 8. CAD has also listed a FAQ page on the investigation into TGG. Below are the page contents:

Q What is the status of the investigation?

A The investigation is underway. The CAD will inform of the final outcome of the investigation.

Q I have entered into agreements with The Gold Guarantee Pte Ltd to buy gold products. In these agreements, The Gold Guarantee Pte Ltd has promised regular monetary payouts and also offered to purchase my gold at the end of the contract. Can The Gold Guarantee Pte Ltd continue to fulfil its obligations under these agreements in view of the investigation by CAD?

A Queries pertaining to monetary payouts and offers to purchase by The Gold ...