Sabah UMNO Denies Link To Purported Loan Scheme

KOTA KINABALU, July 12 -- Sabah UMNO has denied any link to the purported RM400,000 Bank Simpanan Nasional (BSN) Premium Savings Certificate loan scheme offered specially to its members.

In a statement here today, the party said there was no provision under UMNO's constitution for such a loan to be given to its members.

"This is a scheme concocted by irresponsible people. Therefore, the general public and financial institutions, and particularly UMNO members should not let themselves be misled," it said.

A financing programme that was claimed to specially cater to UMNO members went viral in Facebook recently. The advertisement claimed UMNO members were eligible to apply for funds amounting to RM400,000, of which RM200,000 would be set aside for BSN premium savings certificates.

The advertisement also stated that RM100,000 of the amount would be for management payment to UMNO and RM20,000 as bank processing fee, while the balance of about RM70,000 would be returned to the applicant.

The advertisement further stated that the applicant could submit five applications totaling two million ringgit but under different trading licences he or she owned.

It also required applicants to deposit RM150 into a CIMB account under 'Dato Arif Hamdi' as processing fee and the bank payment slip reference forwarded to a certain mobile phone number.