We both forgot that on top of the 2.5 % hibah, another 0.5 for consultant and 0.3 for senior consultant. The total monthly payout (not including admin costs and overheads) is then 3.3% p.m. or 39.3 p a. So the ROI required to earn on net cash of only 2,000 is

39.3% x 10000/2,000 = 196.5 % p.a. !!!

At Martin Lee blog, it had been shown that

for hibah at 2% pm, required ROI target is 168% p.a. ( YAT LUK FATT)

for hibah at 3% pm, required ROI target is 228% p.a. ( YEE YEE FATT)

These are the widely bandied about impossible GENNEVA dreams of the YAT LUK FATT and the YEE YEE FATT fantasies.

WOW, THE GENNEVA MASTERMINDS ARE WORLD CLASS FINANCIAL GENIUSES. WARREN BUFFET COULD ONLY MANAGE 20% P.A. !!!

Reward in ponzi scheme is real although unsustainable, those benefited will want it to continue forever regardless.

Many if not most genneva consultants depend on commission to make their ends meet, couldn’t find a similar substitute income and ill afford to lose this income, it is their personal interest for genneva to survive.

BNM have access to all bank accounts and transactions. By following the cash flow, it is not difficult to conclude the pattern and destinations of $$$

Bro, I hope u r not but u really sounded no diff fr any other disappeared pro genneva. Just another waving gd bye too soon. Speechless. But I like ur persistent, even it's just a short 1.

Do you all think today thr will be still many ppl berkumpul at Geneva office?

Easy stuff....just check their income stream. IS IT ALL FROM THE GOLD SALES?

IF IT IS, YOU KNOW WHAT IT IS!

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Added on October 5, 2012, 7:47 amEddy
Good points!



This post has been edited by prophetjul: Oct 5 2012, 07:47 AM

That's true.

The reward is real. That's what got most people in.

They forgot that eventhough it's real, it's not sustainable.

This post has been edited by teo1957: Oct 5 2012, 07:53 AM

If I run the government, I would legalize the Ponzi schme. With the requirement of the company must tag their products with ponzi scheme clearly to the public. All investors are required to sign a declare statement, which declares that they are fully understand the risk of the schme, and never hope for goverment to rescure when their purchased Ponzi schmen is collapsed.

In fact, if you compare ponzi scheme with betting schmes by Genting cashino or 4D or Magnum, I would say the risk of losing all capital ponzi scheme has the best protection among them.

WHATSOEVER, DONT USE TAX PAYER'S MONEY TO RESCURE SUCH HIGH RISK INVESTMENT PRODUCT WHEN UNFAVOR SITUATION HAPPENS!!!!

Let say, the investigation from BNM confirms that the account of Genneva is seriuosly unbalanced, and Genneva has no way to recover fully the delivery/deposited golds or outstanding hibah. You can imagine the ending would be by the goverment:

1. Goverment step in to recover the losses using our paid tax money. If this happens, I will demand government to recover my invested betting losses in buying 4D.

2. Goverment allows Genneva continues the business. By then, Genneva can fill the outsanding gap by "cheating" the new incoming investing money. Malaysia has 28 million population which unlikely can sustain the life of Genneva too long. Thus, Genneva must aggressively expanding their business in China as 1.3 billion can last a liitle bit longer. Maybe, Genneva collapses in 2020 as a joint marking of Malaysia becomes a developed country......Why? Dr Mahathir is the opening VIP for Genneva, and vision 2020 is the baby of him as well.

3. Goverment stands firm on "YOU MATI YOU PUNYA PASAH! SAYA PUN TAK ADA DUIT NAK TOLONG!"


I support the option 3. Sorry, Genneva investors.

It's a private scheme the goverment shouldn't be bailing them out
Problem is that if Singapore finds their Geneva an illegal scheme and Malaysia doesn't paints us as a being financially foolish

If gov legalize ponzi scheme, n half of the malaysia population throw in their life saving, if they close shop n half of the malaysia population lost everything, i think that will bring the whole country down n eventually gov will need to do something.

Edit : n sorry to say that the gov need to cut short the happy hour for those investors instead of taking huge risk.

This post has been edited by stormaker: Oct 5 2012, 09:30 AM

WHY DON'T READERS CHECK OUT WHAT HAPPENED IN ALBANIA SOME TEN/TWENTY YERS AGO. A PONZI SCHEME BECAME SO BIG THAT MAYBE HALF THE POPULATION WAS INVOLVED. WHEN IT COLLAPSED, AS EVERY PONZI WOULD, THE GOVERNMENT ALSO ALMOST COLLAPSED IN THE AFTERMATH,,!!

WIKIPEDIA CAN PROVIDE SOME DETAILS,

Investors are holding on to their "rights" to profit regardless of its legality. Its no difference from becoming a triad member and gets a share of $$$ . they dont care where the $$ came from nor how the "machinery" behind the triad works ( $$ = prostitution / robbery loot /protection $$$ from all over) .

obviouly they will come and defend the snakeheads /system coz it feds them well and dunt want it to collapse..... until the snakehead proclaimed "sorry dude game over!" but they didnt.. they are using the sympathy cards + social media to last a bit longer with all the medodramatic stuff like "Please bear with us. continue support us. We will be ok! ". its just to BUY TIME.



This post has been edited by alanyuppie: Oct 5 2012, 09:53 AM

Good point bro. One of the things that I wanted to talk about too... is the amount of power that is given to them to be able to FREEZE the whole company asset.

Does anybody know if there was a Court order release for the Freezing of Genneva?

actually these are the ways how the bank make profits. its not all but its part of it if you are talking about commercial bank.

but i wonder what do HSBC, JP Morgan, Bank of England has in common? seems like u know alot about bank's business model. please to enlighten us.

I think nobody here know what evidence BNM have that granted them the permission to freeze the company asset. Also, freezing the asset will help in investigation n prevent them manipulate their asset or transfer it out of the country.

I think under AMLA BNM can freeze the assets based on suspicion only, no need court order. correct me if I'm wrong.....

Possible to end up like genneva

some ppl willing to be cheat for 2nd times...

people just want the return in investment the very high roi. they are not concern on how its made whether legal or illegal

as long there is new buyers the scheme continues rolling, steal from the new buyers to pay the old buyers

Use your heads lar people. Bernie Madoff didn't even offer returns anywhere as high as Genneva's and his entire investment scheme turned out to be ponzi.

Btw, I don't think that those who invested enough to get a physical gold bar are any better than those who don't have any. IIRC, when Madoff was exposed, they forced everyone who had cashed out within a particular period to hand back their money so that everyone can be equally 'compensated'. I would say its more like sharing the pain equally.

If Genneva turns out to be bust, BNM might very well force them to hand back the gold bars so that they can liquidate and do the same.

Ponzi model and MLM model are different, legit MLM model will not asking for expensive membership fees. (ok, put a stop here I don't want discuss MLM here as many of you might not agree)

Ponzi model, people on top will gain a lot while people down there will have to keep on digging out money....

after this incident, my mom really quiet already and not to talk about this infront of me. Pity her also cuz she never listened to me and blindly follow her friend and "invest" this kind of thing, can't blame her also cuz our elders like to follow what friends do. Not to say she is lacking money of what, she has various of investments - let it be mutual fund, shares, mlm, FD and have earn some extra pocket money but when she trying to step her feet on this gold "investment"...
I already sound her to open account with bank and invest via bank but she is not listening and we ended up quarrel few times. I shown her all the facts (like you all showing) and compared with all the investments she has (shares, mlm, mutual funds, FD) and told her that all the things she invested/doing are much more legit than this gold "investment" .... I even shown her BNM website saying this company been raided before while the other things she involved still actively doing biz and don't have any wrong doing and raided by BNM but what to do....parents always think they are "old" enough and know thing more than us
She brought me to their seminar regarding the laws or acts and all the things they presented were protecting themselves more than so called investors.
Lost is not much but for me is a very valuable lesson for her.

This post has been edited by beck_ken: Oct 5 2012, 10:48 AM