Hahhaa.. Ada aku kesah??

I live in kota damansara

What if you (Genneva SG) are in Financial difficulty and owe your friends alot of money. And your parent (Genneva MY) is SO-CALLED doing very well (Rich in $$$$$$$$) knowing that YOU are in cash flow problem and refuses to help you. Just let your NAME rot and YOU carry the same SUR NAME. This kind of parent only know how to think for himself only sooner or later will get into problem and YOU will also forgo them.

BOTTOMLINE: NO REASON FOR ANY GOLD TRADER TO BE BLACKLISTED[/size]
"The gold trading business is an unregulated industry in Malaysia ... It is understood that no license or approval is required from any authority, including Bank Negara Malaysia, for one to conduct gold trading in Malaysia ... This means there is no reason for any gold trader to be blacklisted for conduction any form of gold trading." - Datuk Joseph Kow, GBEAM Secretary-General.

Cheers and have a blessed GOLDEN day! 

Pendapatan tak halal tu.. insaflah...

Yahya meriwayatkan daripada Malik daripada Abdullah ibn Dinar daripada Abdullah ibn Umar yang Umar ibn al-Khattab menyatakan, " Jangan kamu menjual emas untuk emas kecuali sama untuk yang sama. Tidak meningkatkan sebahagiannya atas sebahagian yang lain. Jangan kamu menjual perak untuk perak kecuali sama untuk yang sama, dan tidak meningkatkan sebahagiannya atas sebahagian yang lain. Jangan kamu jual dari barang yang ada keatas barang yang tiada. Jika seseorang meminta anda menunggu untuk pembayaran sehingga dia pergi ke rumahnya, jangan kamu meninggalkannya. Saya takut rama keatas kamu."

Hahha. Kesiannn..

What Genneva is doing is to protect existing client's interest by offering them to transfer their contracts to Genneva World Pte Ltd, in case Genneva Sg was made bankrupt by these lawsuits.

Genneva Sg is having financial difficulty in Sg for 2 reasons:

1) One of the staff in the high echelon of Genneva Sg absconded money and client's gold bars (hence some lawsuits from gennevacomplaingroup at Hardwarezone). The criminal case is under investigation.

2) The same person traded company's fund recklessly on speculative forex, causing huge losses (hence other lawsuits lawsuits from gennevacomplaingroup at Hardwarezone).

Genneva Malaysia will not bail Genneva Sg out.

What Genneva is doing is to protect existing client's interest by offering them to transfer their contracts to Genneva World Pte Ltd, in case Genneva Sg was made bankrupt by these lawsuits.

Same time we are doing reforms and tightening our procedures to prevent such things (1) and (2) from happening again.

Wow, if it is really true that the management can commit this huge mistake in Singapore office, is it fair to cast reasonable doubt that the Malaysian office is subject to the same management risk also ?

Maybe worse in Malaysia.............

Genneva Sg is having financial difficulty in Sg for 2 reasons:

1) One of the staff in the high echelon of Genneva Sg absconded money and client's gold bars (hence some lawsuits from gennevacomplaingroup at Hardwarezone). The criminal case is under investigation.

2) The same person traded company's fund recklessly on speculative forex, causing huge losses (hence other lawsuits lawsuits from gennevacomplaingroup at Hardwarezone).

Genneva Malaysia will not bail Genneva Sg out.

What Genneva is doing is to protect existing client's interest by offering them to transfer their contracts to Genneva World Pte Ltd, in case Genneva Sg was made bankrupt by these lawsuits.

Same time we are doing reforms and tightening our procedures to prevent such things (1) and (2) from happening again.

Why is that anyone's concern? You are not "investing" in Genneva Malaysia Sdn Bhd. You buy PHYSICAL GOLD and you hold the gold in hand, similar to buying physical gold from other goldsmith shops. So why bother about the company's paid up capital?

Genneva Sg is having financial difficulty in Sg for 2 reasons:

1) One of the staff in the high echelon of Genneva Sg absconded money and client's gold bars (hence some lawsuits from gennevacomplaingroup at Hardwarezone). The criminal case is under investigation.

2) The same person traded company's fund recklessly on speculative forex, causing huge losses (hence other lawsuits lawsuits from gennevacomplaingroup at Hardwarezone).

Genneva Malaysia will not bail Genneva Sg out.

What Genneva is doing is to protect existing client's interest by offering them to transfer their contracts to Genneva World Pte Ltd, in case Genneva Sg was made bankrupt by these lawsuits.

Same time we are doing reforms and tightening our procedures to prevent such things (1) and (2) from happening again.

1 con-sultant can kill Genneva SG. Really safe to invest har?

Genneva Sg is having financial difficulty in Sg for 2 reasons:

1) One of the staff in the high echelon of Genneva Sg absconded money and client's gold bars (hence some lawsuits from gennevacomplaingroup at Hardwarezone). The criminal case is under investigation.

2) The same person traded company's fund recklessly on speculative forex, causing huge losses (hence other lawsuits lawsuits from gennevacomplaingroup at Hardwarezone).

Genneva Malaysia will not bail Genneva Sg out.

What Genneva is doing is to protect existing client's interest by offering them to transfer their contracts to Genneva World Pte Ltd, in case Genneva Sg was made bankrupt by these lawsuits.

Same time we are doing reforms and tightening our procedures to prevent such things (1) and (2) from happening again.

Hahhaa.. Ada aku kesah??

I live in kota damansara

Posted by denisd 21 Sep 2012 07:36 AM

Genneva - a PONZI scheme

Dear Genneva customers

I have just joined HARDWARE because I am one of the new customers who is affected. Genneva is a PONZi scheme whereby it needs a continuous stream of new members to pay the old....you see the 30% mark-up means that it takes
you 16 months before you are paying off your investment but after that you earn 2% per month...which investment do think today Genneva can be involved in that gives this returns....most importantly, they DO NOT DISCLOSE what investments or trading results that are producing returns and do not itemize.. once the flow of new investment stops...the scheme fails.

THIS IS RED FLAG NO 1.

Secondly they did not file last years tax return...

RED FLAG NO 2.

Thirdly, they do not put disclaimer in their sale terms ....
that is ANY PRODUCT INVOLVING INVESTORS, THE COMPANY HAS TO STATE THAT PRICES CAN GO UP OR DOWN AND THAT IS NO GUARANTEE THAT INITIAL INVESTMENT CAN BE RECOVERED. That means that Genneva guarantees to buy back the gold during the buy back period at their price NO MATTER WHAT THE GOLD PRICE IS....

RED FLAG NO 3.

SO now how do they exit the scheme...??

Create diversion.....they say " some Director been embezzling money, double invoice etc etc ...now in China ......" all these statements ....even
"you can sue us ...we have no money"....all NOT TRUE...

THEY HAVE ALREADY TRANSFERRED ASSETS ...POSSIBLY GOLD AND CASH to
other accounts...

THESE ACCOUNTS MUST BE FREEZED IMMEDIATELY AND FUNDS TRACKED..

You need to report to the COMMERCIAL AFFAIRS DEPARTMENT with you complaint and ask them to seize the premises....they will also need to contact the company KL headquarters and track down the Directors and inform Malaysian police,,,,maybe even Chinese authorities...

These are the first steps......Lawyers letters will take too long ....

THE BIRD IS ALREADY FLYING AWAY,,,,,the senior management in Singapore
must know something ...the POLICE NEED TO QUESTION THEM INTENSIVELY..



GOOD LUCK

Yes top class area. Beats even Bukit Tunku, TTDI and Bangsar. Definitely suited for those who earn RM30K per month. I think Vincent Tan should move here instead of staying at Seputeh. 

Genneva Sg is having financial difficulty in Sg for 2 reasons:

1) One of the staff in the high echelon of Genneva Sg absconded money and client's gold bars (hence some lawsuits from gennevacomplaingroup at Hardwarezone). The criminal case is under investigation.

2) The same person traded company's fund recklessly on speculative forex, causing huge losses (hence other lawsuits from gennevacomplaingroup at Hardwarezone).

Genneva Malaysia will not bail Genneva Sg out.

What Genneva is doing is to protect existing client's interest by offering them to transfer their contracts to Genneva World Pte Ltd, in case Genneva Sg was made bankrupt by these lawsuits.

Same time we are doing reforms and tightening our procedures to prevent such things (1) and (2) from happening again.

If Gen Sg loses the lawsuits and made to pay, Gen Sg will claim it from the guilty person. If Gen Sg cannot recover any monies from him, Gen Sg will go bankrupt.

Genneva World Pte Ltd is fully backed by Genneva Malaysia. And with new systems in placed, Gen Sg's saga will not happen again.

The guilty staff has left Sg and lastly we understand he is in China.

Genneva Sg has made a counterclaim against him, meaning Gen Sg will fight gennevacomplaingroup's lawsuits by pinning the responsiblity and liability entirely on that guilty person. The contracts he entered with were made in his own capacity and not Genneva Sg.

If Gen Sg loses the lawsuits and made to pay, Gen Sg will claim it from the guilty person. If Gen Sg cannot recover any monies from him, Gen Sg will go bankrupt.

I repeat, Genneva Malaysia WILL NOT bail out Gen Sg. We do not condone illegal ill-doings, and we do not hesitate initiating legal action. It is not right for us to use Genneva My's funds to pay for the ill-doings of 1 person in Gen Sg. If that means Genneva Sg goes bankrupt, so be it. The management there at Gen Sg has failed miserably and did not live up to the high expectations and standards of the Genneva brand!

So, I sincerely urge existing Gen Sg customers to take up Genneva World Pte Ltd's offer to transfer your contract to them. If you transfer your contract to Asia Pacific Bullion or other goldcos, you will stand to lose quite substantially. Sell the gold in open market, you will lose also. Transfer the contract now to Gen World before it is too late.

Genneva World Pte Ltd is fully backed by Genneva Malaysia. And with new systems in placed, Gen Sg's saga will not happen again.

Same s*it, different day.  Instead to owning up to your responsibilities, you just let the company go bankrupt and transfer to another company and the investors take a 30% haircut. What kind of responsibility and trustworthiness is genneva showing? If it is a reputable company, they will compensate even if their associate company fails, many international company has done so. If a company have failed it's internal check and balance, why should the investors end up holding the bag while the directors/owners go scoot free? All is talk, until the Genneva SG investor are fully refunded, anyone who trust this company is a complete fool. 

All this counter lawsuit is all stories, can produce a copy of the writ of summons from Genneva to the director? There are plenty of summon letter to Genneva SG though....



I hope the owners/directors all go to jail like what happen to Sunshine ...