got 1 unker (Poh Txxx Hxxx (sounds like "tak dapat kaya" in hokkien ) posing with a Hyundai Sonata and a private jet in the background posting "I don't like paper money, I like physical gold"

Really feel like replying him "oi unker, lu kereta dan private jet beli, seller terima cheque/cash ke emas?"

full of sick ppl out there

This post has been edited by Pink Spider: Oct 10 2012, 09:14 PM

From the bunch... sure got a dozen lawyers victims. No need be good hearted.. they can start save own ass + others at the same time too.

got someone copy and pasta my intended reply to that unker on BNM FB page

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Added on October 10, 2012, 9:19 pm...and make a fool of themselves? Well, bad publicity is better than no publicity...instant fame

This post has been edited by Pink Spider: Oct 10 2012, 09:19 PM

How long do you think these blind sapporters can keep up with this nonsense?

Update on joint raids conducted by enforcement agencies on companies suspected of conducting illegal investment schemes using gold

The Attorney General’s Chambers, the Royal Malaysia Police and Bank Negara Malaysia, would like to provide the following update on the recent raids against companies suspected of operating illegal investment schemes using gold.

These raids were conducted in the interest of protecting the investors as well as the public at large from falling victim to illegal schemes.

Based on surveillance and examination conducted on these companies, it has been discovered that these companies are operating schemes that are believed to be not sustainable to provide the promised high monthly returns, nor would they be able to provide the buy back guarantee of gold. Such schemes are not sustainable because the returns promised are not funded through gold trading, but from the monies invested into such schemes. The investigations have also revealed that the amount of assets and monies held by these companies do not commensurate with the amount collected from their investors.

Prior to the joint raids, it has been noticed that these companies have delayed in returning gold or money to the investors within the stipulated time as promised. Such signs are early warning indications prior to the collapse of such schemes that would result in significant losses to investors.

For more information, members of the public may contact the following:

BNMTELELINK (Customer Contact Centre)
Tel: 1-300-88-5465
Fax: (03)2174 1515



The Attorney General’s Chambers of Malaysia
The Royal Malaysia Police
Bank Negara Malaysia

Bank Negara Malaysia
10 October 2012

Unfreeze Genneva gold buyers' assets, BNM urged

M Krishnamoorthy
6:02PM Oct 10, 2012

Umno Youth wants Bank Negara Malaysia (BNM) to liquidate and unfreeze all assets of Genneva gold buyers because more than 10,000 innocent customers of
the gold company have appealed to its complaints bureau.

"Enough is enough and gold buyers and investors should not be made to suffer because of the central bank's high-handed action," the wing's complaints bureau head Khairun Aseh (left) said today.

He added: "Why punish and victimise bona fide buyers of gold when it was the old directors of Genneva who were guilty of the offence more than two years ago.

"It's not fair to punish the current investors. The past seven days for the investors who have not got their hibah and commissions has been like 70 years.

"Some of the parents had to recall their children from education overseas because they will not have the money to continue financing their education. Some could not go for serious medical operations, dialysis and feed the family without their regular income through the hibah."

For this reason, Khairun said, he wanted Bank Negara to act swiftly to unfreeze the assets and bank accounts for the company to continue its operations while investigations were in progress.

Umno Youth, he told a press conference at the bureau in Solaris Dutamas this afternoon, would write a letter to Bank Negara today to ask it to act immediately.

About 2,000 people from the Genneva Malaysia Supporters group were gathered in and around the complaints bureau office.

Khairun said he would also seek an appointment to discuss the matter with Bank Negara officers so that thousands of Malaysian families would not suffer any further.

Why didn't bank regulate gold industry?

Bank Negara's raid on Genneva and other gold companies is not seen as a fair and justified as the people have put their life savings into gold investment.

"Why didn't Bank Negara regulate the gold trading industry? This is not something new. The bank has been raiding without regulating the gold trading industry.

"The gold buyers are not accomplices and should not be made victims because the gold business is not regulated."

Khairun added that Bank Negara has been advising the people not to invest in gold. However, with gold being one of the best forms of investment, Bank Negara should explain why the people should not invest it in.

Genneva's Syariah compliant gold was officially launched by former prime minister Dr Mahathir Mohamad, on Dec 15, 2010.

Prime Minister Najib Adbul Razak's wife Rosmah Mansor, members of the Malay royalty and other prominent personalities have graced Genneva's dinners and official events.

Bank Negara raided Genneva on Oct 1 and followed up with raids on other gold selling companies.

Some of Genneva's gold investors have been investing in the company since it opened for business at the end of 2010.

According to Genneva's customers, Bank Negara raided the company because a top-ranking bumiputera officer in Genneva demanded more in salary and allowances early this year and it was not approved.

Frustrated, he resigned and got Islamic NGOs and the Fatwa Council to campaign against Genneva and lodged complaints with Bank Negara. The complainant also attempted to file a caveat on Genneva, but it was struck out by the High Court, the customers said.

Khairun described Genneva's business model as "truly revolutionary, innovative and true to its spirit".

It has since grown into one of the leading gold bullion traders in Asia with businesses in Singapore, the Philippines, Hong Kong and in China, where Genneva has a 30-year operating licence in Beijing.

http://www.malaysiakini.com/news/211325

did u guys see what I see on the right?

This post has been edited by Pink Spider: Oct 10 2012, 09:32 PM

what did you see?

that face

Whose face ?

finally some limelight , but unfavourable

Probe on gold trading firms shows schemes are unsustainable, say Bank Negara, A-G, police

Don't these people need to work? These Ponzi schemes sure create lots of useless people by giving the false impression that they can shake theirs legs at home and money will simply fall from the sky. They contribute absolutely nothing to the society. Some of my long lost 'friends' had asked me out for a drink to present 'business plans' LOL

i think standing in front all CONsultants

This applies to not just to scams/Ponzis, but to ALL MLMs. The day expansion slows/stops is the day it goes bust.

Feel these ppl is pitiful...

Moronic. Emotions override facts.

Guys, I got news from the Chinese forum.

When customer buys gold from Genneva, they can collect 7 days later. Or put at Genneva office for safekeeping. With 0.5% more interest.

That means they can show 1 gold to many customers. There is not enough gold!

No way! Consultants said 500kg of gold being raided!

Spreading such rumours so many customer go support Genneva.
Now BNM just made announcement plus the details I got.

There really isn't much gold left.