Most of your answers are stated in the link below:

Genneva malaysia

Hope it helps..

One of the top scams in Malaysia is gold investment. Details provided by BNM.

The companies in this gold scam that went bust are Bestino and Public Gold ( not in anyway related to Public Bank ). Many police reports have been lodged against these two and BEstino directors are now being charged in court.

Some investors luckily are still left with the gold bars but some unlucky ones did not get any during the exchange period where money was paid but the gold bar needed few days to process. So when the companies gone bust their monies also gone with the wind and no gold bars as well.

If really interested to invest do not throw all the eggs into 1 basket or get multiple personal loans to invest in it. Too risky. bNM and SC can also anytime freeze their bank accounts and hence you will not be able to receive any dividend.

Just be careful.

We could be extra careful in order to choose the path of life,provided that we've enough information and clarification has been made,but never throw any words that slanders something with no fact proven/given,that could be another cases why most malaysians are afraid to startup an extra income when these rumours takes place.

Invested in Genneva gold last week. Bought 2 gold wafer 50g each, and 2% returns every month for 6 months. I am holding the physical gold now.

frankly, i've made 25% returns from gold trading investment since last june while the gold bar is in my possession all the time... its matter of calculated risk involved in any investment... due diligence must be done!

Hi Vincent, thanks for sharing this.

No matter what people say or write with a lot of well-meaning apprehension and caution, Genneva Malaysia Sdn Bhd is still operating and in fact, growing from strength to strength.

How I see Genneva Gold Investment... In a nutshell, it is actually a saving plan similar to placing your savings in Fixed Deposit. Whether the price of gold goes up or down, your capital is protected 100% with 1.5% return every month (for a tenure of 6 months); compared to FD which gives you only 2.85% PER YEAR.

There is a special promotion going on now. Read more at Genneva Gold Savings Plan.

Cheers!

Pat Lu
Hopefully retired.

One question: How can a product pay interest and be Syriah compliant?

Maybe the muslims can answer this?




http://mygoldgoose.wordpress.com/about/

Was just introduced to this today.

Searching for the details and found only this far.

Can someone who has joined this recently give some comment?

I have a few gold wafers in my hand now. Hearsay Genneva buy gold in bulk at price around RM140/gram. Thats why they can give us the 2% interest for 6 months. And also maybe they use our money to invest in other business as well.

how long have u joined?

based on my understanding, contract is 6 months. what are the odds of changes of contract after 6 months? very skeptical... 18% profit a year sounds too good to be true.

This post has been edited by hivemy: Apr 26 2011, 09:07 PM

Why pay u 2 % per month ? Why not just sell to market and use it to invest in the other business. Save the 2% per month. Extra profit for self.

Hi hivemy,

For an introduction, please read my open letter and follow the links within at http://mygoldgoose.wordpress.com/2011/03/0...-my-gold-goose/

Then, read Genneva Gold Savings Plan at http://mygoldgoose.wordpress.com/about/

Since yesterday, I've been participating at the Topic: Buying Gold As Investment V2, 2011 Gold Rush From Oil Hype and answered other questions at http://forum.lowyat.net/index.php?showtopi...post&p=41882307 -- scroll up the page to view more of my postings there.

Hope this helps. Cheers!

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Added on April 27, 2011, 4:54 am
I only joined in January this year though I knew about Genneva Gold through my uncle who started off more than 2 years ago, and have been reaping huge benefits that has served as his retirement monies, while at the same time preserving his own money in the form of the Gold Bullion which he keeps in his safe possession.

Similar to you, I was most skeptical till two of my friends, who are even more skeptical than I, bought 2KG of gold last December. The company has had a colourful and eventful history due to laws of this country and threat to the foundation of the banking industry. Then, on 15 December 2010, Genneva Malaysia launched its Syariah platform... the rest is history.

I'll be happy to meet you at Genneva's office to show you around and to answer any questions you may have. Just buy me coffee.

Here's the address: Genneva Malaysia Sdn Bhd, 52A-1 Jalan Kuchai Maju 6, Off Jalan Kuchai Lama, 58200 Kuala Lumpur.

Cheers!

This post has been edited by PatEagle: Apr 27 2011, 08:10 PM

BTW, for those who want to calculate the potential returns per month on your investment in Genneva Gold Bullion,
check out the Genneva Malaysia - My Gold Goose Calculator at http://rayma.com.my/GennevaGold/Calc.html

For the current price of Genneva Gold - see bottom right hand corner at http://www.goldbeam.org.my/

Have fun! Cheers!

I am getting my 2% cheque monthly. 2% monthly maybe its their business model. The gold wafer they are selling maybe need less workmanship thats why can get extra profit. I don't know for sure what is their business model, but if i am scam in this 6 months, i will update ya all.

Same here. I'm happy with my returns every month. Better than investing in the volatile stock market.

I think the root issue of the matter why people are afraid to invest in Genneva Gold is because of in-the-box thinking:

1. No other investment instruments offer such a high return every month as seen at http://mygoldgoose.wordpress.com/about/ -- People Stuck in Old Economy Mindsets (i.e. old conservative ways of making money).

2. “I am more concerned about the return of my money than the return on my money”. — Mark Twain

3. “I do not want to feel stupid. I do not want to be called strange and weird… I listen to a few people that everybody else listens to. Then, if I am wrong I don’t feel stupid because everybody else made the same mistake.” Watch video at http://mygoldgoose.wordpress.com/2011/04/1...-dont-buy-gold/

Since its related to Gold, for those who are interested in this scheme, better read this thread as well before making yer decision.

Again, Caveat Emptor!

http://forum.lowyat.net/topic/1771874/+300

Court hearing is on 22nd apr (final), so anyone got any infor on that?
http://www.bnm.gov.my/microsites/fraudalert/0301_status.htm

Oppps, replied you at http://forum.lowyat.net/topic/1771874/+320# - it would be more relevant here as it's related to the specific topic of discussion. Don't know how to move it here, so excuse me if I repost my entire reply here...

Believe it or not, I heard that the prosecutors couldn't find witnesses to charge the defendants for money-laundering. Look out for the next hearing date. All are invited to attend.

Meantime, please note that Genneva Sdn Bhd and Genneva Malaysia Sdn Bhd are two separate entities.

The directors of Genneva Sdn Bhd were under suspicion of conducting illegal deposit taking activities in breach of Banking and Financial Institutions Act 1989 (BAFIA) and Section 4(1) of Anti-Money Laundering and Anti-Terrorism Financing Act 2001 (AMLATFA) and were subsequently charged. However, all pleaded NOT GUILTY and claimed trial as seen at http://mygoldgoose.wordpress.com/2011/04/1...ectors-charged/

Genneva Malaysia Sdn Bhd has fulfilled all Bank Negara’s requirements as a scheduled Institution under Section 21(1) of the Banking and Financial Institution Act, 1989 (BAFIA); and classified under First Schedule of Anti-Money Laundering and Anti-Terrorism Financing Act, 2001(AMLA) as a “Reporting Institution”.

In addition, GMSB's gold products are Syariah compliant; policy governed by the Syariah Committee.

Just reread the following articles at Genneva Directors Charged
The Star article, Thursday March 17, 2011: Trio claim trial to charge of illegal deposit-taking

The Star, Friday October 15, 2010: Four hit with 796 charges

And under Geneva Sdn Bhd, 21 July 2009 at http://www.bnm.gov.my/microsites/fraudalert/0301_status.htm

With 707 counts of money laundering and 796 charges...
1. Don't you find it odd the prosecutors can't find witnesses since they have all the relevant documents?
2. Where are the witnesses, the members of the public who complained? Could they be competitors?

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Added on April 30, 2011, 4:43 amBTW, I had the pleasure of meeting Genneva Founding Member Dato' Ng Poh Weng on many occasions. Someone who is most unassuming, humble and helpful. I respect him very much.

FYI, Dato' Ng was ex-Poh Kong co-founder with more than 50 years of knowledge and experience in the gold industry; started in the gold industry with family who owns a gold factory equipped with manufacturing, retailing and refining gold... hence my confidence in investing in Genneva Gold and would recommend it to everyone based on my first-hand experience dealing with Dato Ng and his dedicated and committed management team.

ur going to lose all ur money...

I will be more than happy to invest if he can tell me how he intends to make the 18% that he promises everyone, and why he does not just get a loan from a bank.

This post has been edited by wodenus: May 1 2011, 01:47 PM