On last recall they only promise 1.5% per month not 2 %
thus it is just 18% per annum.
The scheme can work if gold price goes up > 18% per annum.

to add to KentPhan point ...

Genneva don't have license to do investment.
http://www.gennevaworld.com.my/index.php/faqs/

Even, 18% is damp hard to achieve.
Do you know that 90% of share investors are losing money? This is also a world statistic you can find simply from the net.

Still back to the question, how Genneva makes more than 18%?

Gold is rising now, can it drops tomorrow?

and also CON-sultant commission....0.3% and if achieve 3.5million sales...another 0.5%
and then running cost of office..staff...

You are still delusional about Gen-NEVER being legit or even your scam guaranteed 15% per month returns.
There is something seriously wrong when proper checks are done and the ones bank negara are protecting (customers/consultants) turn and bite them back. Also, sure as hell need to investigate YOU for your baseless claims of guaranteed returns.

Worst! they are not allowed to invest.

How they make the money to pay for hibah? Just hope the gold price is rising to RM1,000,0000,0000,0000 per gram without dropping.

Think here - they are promised to buy back the gold with the agreed price. They are packaging it as derivative product. Selling options for future. This is a extream high risk in investment game.

I did not invest in them. I just point out some correct facts. Even 10% already very susah i know.
Last recall I heard, gold got stuck there for more than 1 week b4 U get your cash.

Since it already raided, all previous argument is not very useful anymore for those who didn't listen.
Let move on to what next?
1st I congratulate the authority for doing the surprise raid at least customer an get back some "besi buruk" b4 it closes down.

I have some unanswered questions, not for me but for those investors.

Can someone from the authorities or company give us some details on the following
or at least someone email them lah. So that it is more transparent.
1. How much gold was confiscated on that day of the raid? Important, verified by 3rd parties.
2. How much cash was confiscated on that day of the raid? Important.
3. How much is left in the bank a/c?
1-3 are the base line to protect the customer interest that the authority is doing their job properly.

4. How many customer + commitments?

then quickly do a calculation whether
1. Enough gold to give back to all customers. Customer with transit gold.
If enough then
2. Enough $ to pay the commission for the customer.

If authority can do this quickly then it can directly or indirectly prove the scheme whether it ponzi or not.
Then all the noise will be shut down.

They must do it properly lah, since Rosmah + mahathir also attended some of their function. Election is round the corner.

if not enough $ to cover, what is the next action. ? ? Well, I think the authority are smart enuf lah. we forumer just have ikan bilis idea only lah.

my mom got into this...lucky not much

i told her that this system is not working and if compared to MLM compensation plan, this one is more hidden and a lot of questions not answered.

I am involved in MLM part time and I know this gold thing investment is not working given the facts that the return is really beyond our imagination plus those rules and regulations stated in their contract is really for themselves and no advantage for the buyer plus there is no biz in the world that can give you a return of 18%?

Another thing I found out was...since they said their company are "so good" but the official receipts they give was really "pariah" (like those we get in bookstore), how in the world if your company is so good, your receipts were so lousy...that alone really don't convince me..

You will be asking why I didn't stopped my mom to buy it. The reason is a lot of ppl will easily "brain wash" or "blind" when they want something, this apply to my mom. She looking a lot of opportunity let it be shares, mutual funds, MLM or etc etc..other things she involved she profit a bit for her pocket money but for this one...I have no choice but let her go ahead and get the lesson by herself...now she got the valuable lesson.

That's rite, GMSD are prohibited to operate as INVESTMENT company to offer investment product to public.
Not only bcoz without licence granted from authorities like BNM or SC, bcoz it's SDN. BHD as well of which prohibited any invitation to the public to deposit money with the company for fixed periods or payable at call, whether bearing or not bearing interest under SECTION 15 (Private Company), COMPANIES ACT, 1965

The only query is any DEPOSIT PLACEMENT (Gold?) involved or not during the deal?
really headache....

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Added on October 4, 2012, 5:30 pmerr....
No choice.....EXPERIENCE speaks louder than words....

EXPERIENCE may proved it at last....

This post has been edited by laurenx: Oct 4 2012, 05:30 PM

at 75 pages, i already wasted 26 popcorns enjoying every bit of it !

nyuum nyumm nyummm !

for the gold buyers,
i quote one of the forumners saying...

...auntie and uncle can start to cry now....

CHAMPION !

Jealous of seeing people making money. Losers!

Nobody is jealous (well maybe there are some). If the return is true and sustainable, if i own the EPF, i wont bother hiring all the experts to find me a good investments in every corner of this world. Might as well i just dump all the money with Geneva. 24% p.a., and i dont have to incur any operating costs whatsoever.

If Genneva had stopped people from joining them, then that could be the reason to get jealous, because i missed the opportunity. But as far as i know, they have been aggressively marketing their 'product'. Instead of being jealous and trying to ruin other people business, i better put my money with them. I'll get nothing to become jealous, and start ruining their business, but i'll get 24% p.a. if i just join them......

This post has been edited by ciahcra: Oct 4 2012, 05:42 PM

Have anyone (investor) ever check or buy the GMSD financial details or info via SSM website?
Came across from other forum website saying the company failed to submit its financial report for last few years?
I'm not sure whether it's true or not....

so, @GoldChan, bout ur uncleared question, I'm afraid u might not able to get REAL/TRUE answer in near time as further investigation required.
I mean if GMSD really failed to submit their account lately, then the authorities required more time to figure out the whole thing.

Whether GMSD having 60k+ investor entire Malaysia as claimed by those investor, I guess the answer will revealed soon.

Hi Kent Phan,
Your MATHS suffer a serious fundamental flaw.
You invest $10,000. Markup is 25%. Thus 8,000 used to buy gold. 2,000 left for investment.
2.5% for 3 mths = 750. But you must earn the 750 with only 2,000 net cash.
What should be the actual ROI needed to sustain the pyramid??????????

Wahlau..1 day already 6 pages!

But after reading every page i can conclude that Geneva is not a ponzi scheme.

They made money quite legitimately. Banks also make money this way but they only give u what 2-4% pa whereas they may be making 30% from ppls money.

Well not just gold investment but other money market instruments as well..loans,mortgages,insurance etc.

Think about it.

US fed reserve just launched QE3. This means printing money. This is called fiat money. Fiat money literally means money which is not backed by gold. This was started back in 1970s by the US govt after pressure from banks n wall street.

Btw i did not invest in genneva.

This scheme seems to be too good to be true. The ROI is way better than BANKS/Mutual funds - and the best part is, return is guaranteed. Endorsed by VIP, former PM and wife.

Get real, Genneva is not a goose who can lay golden eggs. So the question how they could afford to pay the interest? Say if they can really lay golden eggs, would they share the profit with everyone?

Could this be a ponzi scheme?

definitely ponzi

Yup there is no problem in their business model. (based on the article la)

Now the 2nd part is what BNM and others want to know, in which how they make their money. There has been multiple theories (assumptions) laid out back couple of pages but no one knows the truth.

From another perspective for Genneva specifically, if you could run something that makes tons and tons of cash, would you share the strategy it with others? Well I won't. I will just get investors and never reveal the business strategy. Reason being behind it is very simple, in Malaysia there are a lot of copycats.

I really don't understand why are you attacking me personally.

Let me be straight with you, once and for all.

1. I am not a Genneva supporter, I just want to get the facts right cause there are too many assumptions.

2. To me if Genneva is really a scam company then they should be punished.

3. As at current situation there are 0 investors & 0 agents that are complaining of foul play. Why BNM rush? what is the motive behind it? can't they investigate properly like normal auditors?

4. I am here to talk about Genneva not myself. If you can't understand this, then there is nothing I can do to help you. But please don't throw your baseless accusation without any fact or evidence.

Don't be like that bro, thing is nobody yet knows either Genneva is legit or not until they conclude the investigation. If the result of the investigation shows that Genneva is legit, I am sure they will even have more investors joining later, perhaps I just might join them to become an agent

But if the results are otherwise, then it will be a big problem for the investors.

To me I hope things turn up well, cause I really don't want to see my friend (who is an agent) suffer.

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Added on October 4, 2012, 6:11 pmI remember a saying once, "With more money you can make even more money". Till we know the truth, we won't really know how they manage to do it.

Honestly if this business model/strategy is legit, damn, I also wanna know the strategy bro

This post has been edited by celicaizpower: Oct 4 2012, 06:11 PM

Your assumption here is flawed. You are assuming that Genneva somehow has the Holy Grail of investment that will churn out legitimate returns very high in the double digit range and the only reason we do not know about this Holy Grail of investment is that they don't want copycats stealing the idea.

The main question is : If anyone here gets his/her hand on that Holy Grail of investment, why would they go through the trouble of setting up a company, hiring people, running promotional programs and inviting people to invest? Wouldn't it be a better idea for that person to borrow all he/she could and invest the money for himself/herself and then keeping all the returns from it? If they set up a company, they would have to share the returns and pay for the operating costs. Wouldn't that be counter productive?

If I had that Holy Grail of investment, I would borrow once, earn the returns and using my returns I would be able to repay my loans and have balance. If I re-invest my balance and do it repeatedly, I would have a free ticket to financial freedom land and live in the lap of luxury for the rest of my life. Why would I want to go to all the trouble to set up a company? Did that question ever occur to you?

Pro Genneva people and believers, can you share
1) how Genneva makes its money / returns without an investment license from BNM / SC?
2) how does Genneva guarantee its 'hibah', in gold price up and gold price down situations?

Share some numbers and the inner workings with us. Make us believe its legit.