Haha, whatever you said, I am not believing this scheme. It is like musical chair. The last few people will get caught without a chair

My sincere advice to you. Get your gold and run fast fast !!

Taiko,
On Genneva's business structure, there is no doubt it is extremely attractive. Where to find returns of 24% with guaranteed returns of capital ?

As an investor, do you think that we are uninformed (read : so stupidly ignorant) of the potential returns ? If it is really that attractive, why most of us here don't pour our money into Genneva ? I will be the first to liquidate all my business, my real properties, my physical gold, my watch collection, my antique collection, my wife's diamond collection, plus most probably I will sell my wife and mistresses and my left kidney too to invest into the company. In 10 years, I would make 6 times (compounded) my initial investment + potential increase in gold price (could be US$6000/oz in 10 years time, which is another 6 fold) ! With initial investment of say, RM10m, an investor is guaranteed to make RM60m, and potentially another RM60m = RM120m, all in 10 years time !

Why I am so "stupid" not to follow you ?

Because I believe in high risk, high return. The risk is just too high in Genneva. I would rather sweat myself out to work for the money I deserve to earn. This type of high risk money, frankly I got no balls to earn. Not even a single sen because I one day I will be a laughing stock when the company folds up

Remember, Bernard Madoff was caught only after >15 years he is in business and burn away US$65 billion ! And US authority is way more stringent than malaysia. Compare to Madoff, Genneva is just a small potato.

Anyway, I wish you luck

Oh, you are doing some facts finding ? Then have you found out how they make >24% pa to pay the "investors" the 24% ? Don't tell me it is business secret ?

"Discussion ends here" because it contradicts your wish ?

Full of greedy people in this world. That's why everyday people got cheated.

Those people who already "invested" are finding excuses to justify the risk. Just like mistresses who believe her man will divorce one day and marry her



This post has been edited by EddyLB: Jul 1 2012, 11:24 AM

Out of curiosity, I did a ROC and CTOS search on Genneva Sdn Bhd and Genneva Malaysia Sdn Bhd

Genneva Malaysia Sdn Bhd's paid up capital is only RM50,000.00

Amazing such a small paid up capital is doing so big business

For those who are interested, the names of directors and shareholders :

Genneva Sdn Bhd (under BNM investigation for Bafia)

Directors
1. MARCUS YEE YUEN SENG
2. CHIN WAI LEONG
3. NG POH WENG
4. NG WAN YEE
5. AHMAD KHAIRUDDIN BIN ILIAS

Shareholders
1. MARCUS YEE YUEN SENG RM750,000 25%
2. CHIN WAI LEONG RM750,000 25%
3. NG POH WENG RM750,000 25%
4. NG WAN YEE RM750,000 25%


Genneva Malaysia Sdn Bhd

Directors
1. AHMAD KHAIRUDDIN BIN ILIAS
2. PHILIP LIM JIT MENG
3. TAN LIANG KEAT
4. MOHD AZMI BIN ABD AZIZ

Shareholders
1. ZAILAND BIN BAHARUDIN RM10,000 20%
2. SITI NOREHAN BINTI MOHD NOOR RM40,000 80%


Note : ROC report date 25-6-2012

RM750k........the boss of the company only come up with RM50k. And pay you RM15k every month

This post has been edited by EddyLB: Jul 5 2012, 11:31 PM

Wahahaha, at least if I go genting and win money bro lim will pay me for sure. genting big co ma.

But this one paid up capital only rm50k. How to have confidence lah

They should not argue anymore. Fast fast go get hold of the physical gold before it is too late !

I think they can keep. If they keep, no 2% interest

Genneva Sdn Bhd never filed in their financials because they opted to be an exempt private company. It is permitted by ROC

Genneva Malaysia Sdn Bhd did filed their financials, but only up to 31/12/2009

I wish you luck.

Even if you dont lose money or even make money because you are the earlier batch of ”investor”, do you think the company is paying you interest with their profit or money from the newer ”investor” ?

If your profit is sourced from the latter, do you feel good taking it ?

Or you just dont care as long as it is cold hard cash ?

There are many other way to make money, bro.....

It could be the other way around. These investors owed a lot in the past lives, and now have to pay the boss back

I think he did not put it clearly. I think he meant now the co is paying 3% per month (instead of 2%) but only for 6months. After that revert back to the usual 2%.

Anyhow, it could be a sign of desperation of cashflow shortage. Understandably, when it is now claasified non-halal, muslim ”investors” cannot buy and returns has to be set higher to attract new ”investors”. The last strategy before pushing the ”eject” button I guess. Lets see what will happen in the next 3 months

Yes there are ways to make > 36% pa. But most probably these monies cannot report to IRD one

Both my sentences are right ?

Anybody know which company is this newspaper article refer to ?

http://www.chinapress.com.my/node/335393

This newspaper got photos. photo of brochure and the front door photo too. Anybody got their brochure to compare ?

http://www.nanyang.com/node/461774?tid=460

This post has been edited by EddyLB: Jul 14 2012, 11:28 AM

The company reported in the above newspaper article is still in operation. They defaulted 3 investors but they are still open for business, and survive till now

This post has been edited by EddyLB: Jul 14 2012, 11:45 AM

The marketing strategy always harp on the price between them and retailers like Poh Kong, Tomei. Their pricing sounds very convincing. But when we assess the risk, there are big differences between the retail shops and them :

1. Time Of Delivery
Retail shop one hand give money one hand receive gold bullion. Risk is only on the price fluctuation. No chance being con

The other company ? Got turnaround time - when you renew, the gold has to give back to them. When you sell back to them, they need time to prepare cheque. Turnaround time could go to months. The time when no gold in your hand is same like playing musical chair when you don't have a chair to sit

2. Reputation/status of company

Retail shops like Poh Kong, Tomei, Habib have decades of history in business and are reputable listed company. If these companies offer the same terms as Genneva, I got no hesitation to invest. But only in my dream they will offer 24% pa

The other company ? Similar named company is being investigated by BNM under Bafia (criminal court case, not civil case). And the current company has just been declared non-halal



Price is not the only criteria for investment. You must look at the risk also