QUOTE(hongchai888 @ Oct 10 2012, 10:32 PM)
better avoid him, and don't screw up, later kena banhammer, or worst, axe.... GENNEVA MALAYSIA, some facts.., READ and UNDERSTAND
GENNEVA MALAYSIA, some facts.., READ and UNDERSTAND
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Oct 10 2012, 11:20 PM
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897 posts Joined: Sep 2008 |
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Oct 10 2012, 11:26 PM
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639 posts Joined: May 2008 |
QUOTE(gogo2 @ Oct 10 2012, 10:55 PM) Wow, a CONsultant named Andrew Ng become crazy posting non stop after BNM release the statement that say Genneva is scam. Haha somehow all his postings were deletedAdded on October 10, 2012, 11:02 pmhttp://www.facebook.com/GennevaMalaysiaSupporters?flyingspaghettimonster=stream |
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Oct 10 2012, 11:29 PM
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All Stars
18,672 posts Joined: Jan 2003 From: Penang |
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Oct 10 2012, 11:31 PM
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3,021 posts Joined: Oct 2005 |
so, any news of when bnm will release the findings report?
I think those Genneva Fanatics going to march to putrajaya if their demands are not fulfilled.... |
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Oct 10 2012, 11:32 PM
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186 posts Joined: Jul 2009 |
QUOTE(arubin @ Oct 10 2012, 07:09 PM) BNM just issue a press statement. should paste this at their FB group, see what they say. Most likely still in denial..Update on joint raids conducted by enforcement agencies on companies suspected of conducting illegal investment schemes using gold ...and the cat is out of the bag. Classic Ponzi, as we predicted. Let's see if the supporters are finally willing to face reality or continue to be in denial. |
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Oct 10 2012, 11:33 PM
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3,021 posts Joined: Oct 2005 |
QUOTE(john123x @ Oct 10 2012, 11:31 PM) so, any news of when bnm will release the findings report? Anyone gonna create GennevaIsScam fb page?I think those Genneva Fanatics going to march to putrajaya if their demands are not fulfilled.... I just cant tolerate the genneva fanatics fb page.... EDIT: lets us all post "Genneva Is Scam" at their fb page!!!!! This post has been edited by john123x: Oct 10 2012, 11:34 PM |
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Oct 10 2012, 11:34 PM
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All Stars
18,672 posts Joined: Jan 2003 From: Penang |
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Oct 10 2012, 11:43 PM
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1,068 posts Joined: Jan 2007 |
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Oct 10 2012, 11:45 PM
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669 posts Joined: Jan 2012 |
QUOTE(john123x @ Oct 10 2012, 11:33 PM) Anyone gonna create GennevaIsScam fb page? I can't post anything on their page. They blocked me. Anyway no point to antagonize them. Some of them are really being cheated. Post on their FB to advise them to engage lawyers if you can. This way they may recover somethingI just cant tolerate the genneva fanatics fb page.... EDIT: lets us all post "Genneva Is Scam" at their fb page!!!!! |
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Oct 10 2012, 11:46 PM
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487 posts Joined: Aug 2011 |
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Oct 10 2012, 11:46 PM
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All Stars
18,672 posts Joined: Jan 2003 From: Penang |
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Oct 10 2012, 11:48 PM
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3,021 posts Joined: Oct 2005 |
Kinda shocking that there are so many Genneva victims....
and looks like lots of uncle and auntie lost all their retirement savings.... This post has been edited by john123x: Oct 10 2012, 11:49 PM |
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Oct 10 2012, 11:49 PM
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1,068 posts Joined: Jan 2007 |
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Oct 10 2012, 11:55 PM
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186 posts Joined: Jul 2009 |
QUOTE(arubin @ Oct 10 2012, 10:44 PM) The Genneva supporters keep bringing up Public Gold and complaining that BNM is being unfair as that company has also made the watch list but has not been raided. Public gold sell and trade gold the same way as uob bank or maybank does. Got a buy n sell price. You buy and keep. Sell when gold price higher. They make money from minting their own gold from scrap gold. No dividend nonsense. Why buy from them and not uob? Their selling point is same quality 999 but no international brand so it is cheaper and closer to spot price.Out of curiousity, I decided to look at their website. http://www.publicgold.com.my/v1/index.php Now unless I am reading the website incorrectly, it looks like their MO is completely different from Genneva. It does not look like any discretionary payments like 'hibah' are being paid out. Also, it is pretty obvious that their sale price is rather higher than their purchase price which allows them to profit from the difference - just like how currency exchange works. Also, their sale price does look to be above worldwide market rates despite what they claim so they do already make a profit from each sale by itself. There might be something fishy going on after all. I'm guessing there's a reason why BNM placed them on their watch list. Even so, at least the business model looks sustainable. But what do you folks think? What might they be doing that is suspicious? They get on the watch list, I think has something to do with their pawn or pajak gadai facility which goes under some financial regulations that they might breach. |
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Oct 10 2012, 11:59 PM
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Senior Member
3,021 posts Joined: Oct 2005 |
QUOTE(Dan01 @ Oct 10 2012, 11:55 PM) Public gold sell and trade gold the same way as uob bank or maybank does. Got a buy n sell price. You buy and keep. Sell when gold price higher. They make money from minting their own gold from scrap gold. No dividend nonsense. Why buy from them and not uob? Their selling point is same quality 999 but no international brand so it is cheaper and closer to spot price. I also skeptical bout public gold 's gold purity.They get on the watch list, I think has something to do with their pawn or pajak gadai facility which goes under some financial regulations that they might breach. do they even have a proper gold purity certification? |
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Oct 11 2012, 12:00 AM
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2,162 posts Joined: Sep 2004 |
It's hard to sympathize with them when you read comment like this
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Oct 11 2012, 12:12 AM
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82 posts Joined: Oct 2012 |
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Oct 11 2012, 12:30 AM
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208 posts Joined: Aug 2010 |
QUOTE(sHsIkuA @ Oct 11 2012, 12:00 AM) If the BNM not yet release any statement that confirm the company is Ponzi, they can stay in their dream and deny everything.But now BNM already release statement confirming that the company is a Ponzi Scam, do you really believe they are still dreaming and in denial mode? I don't think so. In fact,I see this as a desperation act of consultants to continue diverting the attention (since they had been so successful in doing so from the start) of their customers to BNM. So that nobody will come to kacau them and blame them. The whole facebook setup thing are being done by them not by the management. The consultants know clearly that as soon as they admit the company is a scam, customers will immediately turn to them. So don't stop the music.....keep it going. Maybe the directors also blur blur now and had no idea what hit them. They look more like directors for window dressing and scapegoat only so that when the time come, they will take all the blame. The real culprits are probably drinking wine somewhere in an expensive cafe celebrating their Genneva 2.0 SCAM success. The good thing is I see some of the customers are starting to wake up from their dream. This post has been edited by anudora: Oct 11 2012, 01:13 AM |
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Oct 11 2012, 12:47 AM
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186 posts Joined: Jul 2009 |
QUOTE(sHsIkuA @ Oct 11 2012, 12:00 AM) this fella can learn a thing a two about accounting systems. balance by paper and calculator izzit..bank daily shortage by millions?? so got a window for someone to siphone the daily million shortage before it gets balance la? |
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Oct 11 2012, 01:07 AM
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Senior Member
670 posts Joined: Oct 2007 From: Church of the Flying Spaghetti Monster |
QUOTE(Dan01 @ Oct 11 2012, 12:47 AM) this fella can learn a thing a two about accounting systems. balance by paper and calculator izzit.. Speaking from personal experience, I can confidently state that BNM expects their statements to tally every day. If any one of their figures differs by even 1 cent, there will be hell to pay. bank daily shortage by millions?? so got a window for someone to siphone the daily million shortage before it gets balance la? I don't expect it to be any different with the banks. You want to siphon something? Not as easy as you think. |
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