Madoff had hedge funds buying from him, what's your point

If goldsmith A close shop, I sell -20% below market price. Meaning I get back RM 160. Losing RM 40.
If Genneva close shop, I sell -20% below market price. Meaning I get back RM 200. Losing RM 50.

Huah ! "discretionary payment" liao 

Now the business model changed ? Terms and condition different already ? Anyone has the latest update on the effective returns ? Maybe now no more 24% per year ?

Perhaps you would enlighten us, how genneva generate their income.

As you can see my posting above, my son is doing just that.....

Gold trader but paying interest? It does not judge by the words but the action.

I echo pokemonkiller. 

Instead of being armchair critics, go visit Genneva Malaysia's office to find out more.

Alternatively, visit Genneva Malaysia Sdn Bhd's newly launched website at http://www.gennevaworld.com.my and read the FAQs ... especially point #16.

Hi edyek, glad you finally understood -- "hibah is a gift not promise return. Gift it is..."

Before I continue, no "boss" here. Just like you and everyone else,     
"I am more concerned about the return of my money than the return on my money." — Mark Twain

To continue...
Up to you to buy gold from whoever. The difference is other gold companies don’t offer you Hibah; you only enjoy capital gains if the price of gold (quoted in the international market) appreciates, minus the spread or whatever the other gold traders offer you when you want to sell. It is clearly stated in FAQ section - http://bit.ly/QMebqy

Yes, it can be confusing based on conventional ways of doing business or "investing" mindset. I had a tough time too, had to clear my mind of all I learned to appreciate GENNEVA that is truly out-of-the box thinking. Today GENNEVA's vision has come true and fulfilling their mission as seen at http://bit.ly/QfEIWG ... hence, my sign-off as "Senior Consultant @Work with The World’s Most Innovative Gold Industry Leader" 

If you seek further clarification, feel free to call me at (012) 210 4898 or text me with your name and phone number, I'll return call as soon as I can.

Meantime, have a blessed GOLDEN week ahead. Cheers! 

Genneva Malaysia is the third company. Previous company got sued. The court case is still there.

I asked a simple question. Instead of addressing the question directly, you have wasted several posts now producing hot air. Please stop beating around the bush and try some honesty and answer the question instead. You said:

So I only get my money back after 10 months, if the company is still in business. Question: What happens after 10 months? - where is the company going to get the money from to pay me? What is the business model? Do you understand the question?

HINT: It might take less words to explain it directly than to keep insisting what I grasp or don't grasp post after post without addressing the question.