You can buy gold at cheaper spot price rate, like from banks and bank gold investment but do you get returns every month? Bank gold investment is passive investment, ie wait for gold price to go up. How long to wait? What if the price of gold drops? It is obviously not attractive and the banks know it! That is why banks are giving higher interest rates for FD that are tied to the gold "investment".

By buying gold from a bona fide gold trading company, you are actively getting monthly returns regardless of stagnation or reduction in gold price as explained in my posting above.

Hope this explanation will reduce your frustration and suspense in waiting for an answer.

Scam. Ponzi. Fraud.

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.

an update from a reliable source, police will raid genneva soon.

consultant? more like hard-core sales person to me.

meet a few of them since 2008... none of them talk, walk or even presented their facts like a real consultant.

btw, a friend of a customer of mine was conned a few hundred Ks after a year with them... heard that he couldn't raise the case on court because of the clauses on their TnC docs favoring to the company.

but good to know these sales-person anyhow. at least u get the idea how a conman is like. 

i dun have the exact details, but from what my customer claimed was that his friend return the gold bars Geneva, but the money were withheld due to some matter. (some sort of agreement thingy i think)

so now, he doesn't have the gold bar and he is still waiting for Geneva to return the money.

i didnt ask further thou, cause it a customer's friend not mine.

but my personal experience with Geneva marketers were never pleasant, nor convincing at all.

rather throw my money in FX, at least i'm learning about Forex. 

HELP!!!!!!! GENNEVA SINGAPORE is Holding Back the 2% returns for TWO MONTHS already.

IS IT Happening in GENNEVA MALAYSIA ?    

What a flimsy excuse. Change of management will cause disruption until interest is not paid and the buy back period stretch 6 months until next year ? If this sort of management is running a company, then the company is hopeless 

There were so many banks change their management but I have never heard them telling their customers "patient...patient....give us a little bit of time to sort things out. We will pay your FD principal back in 6 months time..." wahahaha 

Precisely, you don't know Genneva is in the oil business. I bet you don't know Genneva is also involved in gold mining biz.

The next story is Genneva is trying to improve on the oil contract to sell more than the present allocated monthly quota.

Of course that needs lots of "entertainment" expenses and money to "protect" existing contract. That's why Genneva is going all out to sell more gold to increase capital. More oil traded, more hibah. That's why Genneva is upping the monthly hibah to 4% soon.

Once Genneva has gained sufficent capital and improve on the present oil contract, Genneva will be able to sell Gold at spot price, no more above premium ! And Genneva can still pay 4% hibah monthly.

Watch this space ! Genneva will start to sell its own exclusive 999.9 Gold at spot price soon ! Then no one will doubt Genneva's biz model.

These Gold will be exclusive and will have Genneva's own logo and 999.9 marking, people will trade the exclusive Genneva gold like buying of high valued unit trusts, because the value of these exclusive Genneva gold will definitely grow with time! You buy from POH Kong or UOB, you don't get interest. You buy from Genneva, you get interest (or divident). When you sell, you can sell higher than spot price!

Genneva Sg is not collapsing. It is undergoing restructuring.

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Added on September 17, 2012, 12:05 am

1). Wrong to assume that Genneva Sg and Genneva My share the same oil contract. Genneva Sg has its own biz model. Genneva Sg and Genneva My are 2 separate independant biz entities.

2). Genneva Sg has made some bad biz investments, but don't expect Genneva My to bail out them. If cash reserves is pumped in, it may affect GM My own bottom line.

3). If cash is pumped in, MAS may suspect money laundering, which is not good for all.

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Added on September 17, 2012, 12:08 am

What do you think?

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Added on September 17, 2012, 12:12 am

You mean did Genneva start with oil biz or gold biz?

The answer is this. Genneva clinched the oil contract. But to generate capital to trade oil, Genneva started trading gold.

Hope this answers your qns.

Trading in oil needs capital. We generate capital by selling gold at a premium to our believers. Treat it like we are borrowing cash from our customers, using gold as colateral.

We'll buy back the gold and also pay hibah.

Don't worry sillybearz, once we have accummulated enough cash to be able to trade higher amount of oil, we will stop selling gold at a premium and instead sell them at spot price. But customers can still get their hibah, guaranteed. We share our profits by means of hibah.

We still believe in generating wealth for the common folks.

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Added on September 17, 2012, 10:00 am

I am sorry, I do not see any "red" flags.

Oh, not Nigerian e-mails. We don't ask for your bank account details. You pay by cash or cheque, we give you solid gold, it is so straight forward.

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Added on September 17, 2012, 10:03 am

Lets just say I am in the higher echelons of Genneva management. I knows what is going on in Genneva.

Of course I myself buy Genneva gold, many kgs in fact. I manage a team of consultants, and all of them are driving BMWs or Mers now.

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Added on September 17, 2012, 10:16 am

The reason why Genneva Sg is taking so long to restructure is this:

1) One of the senior manager there mismanaged the funds by doing reckless forex speculations resulting in losses. He is under criminal investigation now. He is no longer with Genneva Sg. We are tightening our finance controls to prevent such unauthorised used of funds for investment from happening again.

2) A new team is in place to do better and more sound investments with the existing funds.

3) Due to customers feedback that Orchard Towers is not a good place to do gold biz, we are now sourcing an alternative location in the CBD area. We intend to lease an entire floor in a major building at Robinson Road, very near to UOB building. This place is near the MRT station and also UOB building, so buying gold directly from UOB is convenient. We are now negotiating the floor rent and other lease issues. We urge our customers to be patient during this period of reform. We think CBD area is a prestige place to do gold trading.

4) We are also in deep discussion now with The Gold Guarantee to have collaborations. We are considering a merger with TGG. Merging TGG with us gives us a common platform to access more customers with each other's customers' database and the combined team of both groups of consultants will serve our customers needs better. We may even share TGG's office in future.

5) We are still considering listing in Sg. But we are waiting to assess the impact of removal of GST for trading of gold in Singapore.

Dear Eddy,

At Genneva we recruit the best talents and reward them handsomely. Our team is constantly looking out for investment ideas. I see the gem in you, you have great potential with your very creative ideas. Space and time travel are possible, the sky's the limit !

Drop me a private message with contact number and I shall be in touch with you. Thanks.

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Added on September 17, 2012, 10:29 am

We intend to negotiate for a bigger oil contract to trade more oil. This negotiation is ongoing with lots of "entertainment" costs (play golf, KTV, etc) involved. We also need to "protect" our present contract as our rivals are also dangling the same carrot with the oil major.

Once we have enough capital, and clinched an improved contract, we can start selling at spot price. Watch this space.

More people buying our gold means more capital and the time for spot price selling will arrive sooner !!

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Added on September 17, 2012, 10:32 am

I am in the higher echelon of Genneva My management. I also lead a team of successful consultants, all of which are driving BMWs or Mers now.

I myself have also purchased many kilos of Genneva gold. I don't sell the gold myself but my team does.

I agree with you iceman, we are the first in the world to come out with this model.

Nobel prize or not, to us it is not important.

What is important is that we create wealth for ordinary folks.

We have resisted big institutions from buying us over, because we think once they buy us over, we cannot remain in our goal to generate wealth for our customers. They are welcome to buy gold from us, which they are doing so. I am sorry I cannot disclose the names of these major institutions or persons who have bought our gold, for it is confidential customer information.

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Added on September 17, 2012, 11:51 am

In every business we need to entertain the big bosses lah, it is a reality. Over golf and high tea and karaoke we can improve business relationships and clinch contracts.

In China it is called "guan xi".

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Added on September 17, 2012, 11:53 am

Eddy,

I guess you do not know that Genneva sponsored our very own astronaut in space not so long ago.

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Added on September 17, 2012, 11:59 am

Agree, it is buyers' discretion. We don't force anyone to buy gold from us. To every sale there is a S&P, which both parties will sign. Our buy/sale of gold is transparent.

Sorry I did not say Genneva trades oil with Petronas.

I said "an oil major" and there are other countries exporting oil in Asia, not just Malaysia.