?
This one they sent a mail sometime back dy announcing to the investors that they will need to freeze for a year because they want to become IPO.

So now this company don't accept new investors and all the ROI will be converted to stocks or return back in cash.

The problem here is that most investors don't know how to read the announcement thus the confusion.

so, is it possible that genneva already collapsed, then ask BNM to sapu them, so they no need to pay invester at all.....

so, is it possible that genneva already collapsed, then ask BNM to sapu them, so they no need to pay invester at all.....

Come On..BNM are not that blooody stupid to freeze a legit company.
You think play play kah?

BNM definitely will move in ONLY if they have more than sufficient evidence.

Tell me..have BNM ever freeze a legit company before?
All your argument here is trying to make BNM in a bad light.

http://biz.thestar.com.my/news/story.asp?f...51&sec=business

Published: Friday October 5, 2012 MYT 11:37:00 AM
BNM: Genneva Malaysia raided for suspected offences including illegal deposit taking

KUALA LUMPUR: The authorities are investigating Genneva Malaysia Sdn Bhd and its related companies for suspected offences which include illegal deposit taking, money laundering, tax evasion and avoidance.

Bank Negara Malaysia said on Friday the other suspected offences included false description including misrepresentations, appointment of agents without licence and failure to lodge statutory documents.

On Monday, the police, BNM, Ministry of Domestic Trade, Cooperatives and Consumerism and the Companies Commission of Malaysia raided several premises of Genneva Malaysia and residences of the company's directors.

BNM said relevant assets and documents of the companies seized from the raid would be preserved for the purpose of facilitating the investigations.

"The relevant enforcement agencies have mobilised the necessary resources to expedite the investigations," it said.

The central bank advised the public to check with the relevant authorities when dealing with companies or individuals offering seemingly attractive business opportunities or financial services that are not licensed by the authorities.

"Members of the public are reminded to be cautious in investing in unregulated schemes. The enforcement agencies will take action on illegal financial schemes to protect the interest of the investors and the public at large," said BNM.

mmm... BNM already gave indication what's going to happen to genneve.


KUALA LUMPUR: The authorities are investigating Genneva Malaysia Sdn Bhd and its related companies for suspected offences which include illegal deposit taking, money laundering, tax evasion and avoidance.

Bank Negara Malaysia said on Friday the other suspected offences included false description including misrepresentations, appointment of agents without licence and failure to lodge statutory documents.

so, is it possible that genneva already collapsed, then ask BNM to sapu them, so they no need to pay invester at all.....

I knew this will happen at the end. " if the investment sounds too good to be true, then you gotta be careful."

Rumours they havent submitted their accounts since 2009?

If this is true, then BNM act TOO SLOW. 2009 until 2012 was like 3 years.......
If the company is not summiting their account, HOW IS THE COMPANY LEGIT??????
Yet so many people fail to see this.

If only BNM act faster, then there will be less victims.
The fact that BNM acted so slow make people think the company got no problem and somehow legit since no authorities raid it!

If this is true, then BNM act TOO SLOW. 2009 until 2012 was like 3 years.......
If the company is not summiting their account, HOW IS THE COMPANY LEGIT??????
Yet so many people fail to see this.

If only BNM act faster, then there will be less victims.
The fact that BNM acted so slow make people think the company got no problem and somehow legit since no authorities raid it!

my dad used to have a shell company, never submitted account for more than 3 years. BNM didn't do anything because it's not in their jurisdiction. SSM only issues fine. just pay lor....anyway that company wound up already. 

failure to submit statutory documents fall under SSM. Maybe SSM did issue fines, and Genneva just pay, after all they got money. BNM starts to take interest because of suspected money laundering and illegal deposit taking.....

Thanks for clarifying things here.

So I guess the first warning signal is when the company fail to submit account to SSM.
Since Genneva is an investment company, I think the responsibility still fall to BNM.
Maybe they really need 2-3 years since the companies in the alert list on their website is so long.
I knew BNM had include Genneva in the alert list but lots of victim still believe the company.
The attitude of the people are like the list is non-relevant.
Donno what to say.....

First signal was not come from failure of documents submission.