Hi Bro, it's ok. Your comments made me realize that I still have far to go. Remember the saying, what does not kill you only makes you stronger
It is actually a matter of choice, I never force my investors, nevertheless all those who plans to join will always get this reminder from me "Only invest what you can afford to risk".
Just proving a point, a couple of months back an old friend met me with regards to this investment. He told me he wanted to invest RM 30K. Since I know him very well + his current status, I asked where he gets the cash from.. after a couple of questions and .... he finally said it was from a personal bank loan (which he is planning to apply soon). I told him no.
I am a very responsible person and not the "make money for myself first" type. That's why I never reveal the investment to anyone until the last minute. If he is a friend of mine once, he will always be a friend. I value my buddies cause in life without buddies we are nobody.
Responsible also means stop your nonsense right here right now. If you really earn big, you don't need to come here showing off.
Zack, as long as you place your GUARANTEED 15-20% per month returns siggy you still have not repented. Otherwise I'll really call you a son of a b****. Stop luring people with your scam work.
However, felix saying that his face look like sohai a bit too far. Cos we can't judge him unless we have a look at his face first.
My guess on the badminton game is to lure new clients.
Well, this friend of mine started two years ago with initial investment of 500g then later topped up to 4KG. From time to time, he would show us the cheques, some amounting 20~40K. One might think he was showing off, but we knew he was trying to convince us to join, he is not an agent of Genneva though. I am not sure about his situation now, I did try to contact him yesterday but couldn't get through. Anyway, I don't think I want to call him at this moment, thinking that he might have lots of mess to handle now. For those who pulled out from this investment after completed the contract before the raid, they should have earned.
The agents get 0.7% per month. So yeah, there is a downline system similar to MLM.
The ultimate losers are the ordinary folks. These are the people who try to make extra money legally through gold trading when opportunities are closing at every turn if you are not well-connected. And the well-connected investors probably got early warning before the raid! IF BNM/GOVT IS HONEST ABOUT "PROTECTING CONSUMERS" THEN BNM SHOULD QUICKLY SEPARATE OUT WHAT ASSETS BELONG TO THESE COMPANIES AND WHAT BELONG TO THE BUYERS AND RETURN THE BUYERS' INVESTMENTS AND ONLY FREEZE COMPANY ASSETS. But then that is like "kucing bertanduk" lah! So again the big losers are the ordinary rakyat....as usual! My sympathy to them. If they are holding the gold, my advice to them is not to sell them to quickly because the price of gold is expected to appreciate significantly in the next few years.
If the ponzi scheme is true, then there will be nothing left. Most will be earn by the pioneers.
Added on October 7, 2012, 10:33 am
QUOTE(terry8 @ Oct 7 2012, 02:31 AM)
The Genneva Malaysia Supporters deleted all my comments even the one that advise them to appoint a separate lawyer from Genneva's lawyer to protect themselves ie the buyers. I learnt a very important thing in this saga. Sometimes people like to live in darkness and do not want the light because the light will expose their misdeeds. In the end the right will always be right and the wrong will always be wrong. As the Bible says " A good tree will bear good fruit and a bad tree will bear bad fruit. A good tree cannot bear bad fruit and neither a bad tree can bear good fruit" I pray and hope that especially the older folks and single parents, those who really need their money will get back as much as possible of their capital. To those CONsultants who know deep in their hearts something is not right are part of those guilty of robbing these people. Goodnight ..... I need to go back to all my work which is waiting and has been neglected these 2 days
Added on October 7, 2012, 2:33 am I am willing to take a guess that their bank account plus assets are less than their liabilities eg what they owe the investors
Go to Bank Negara facebook page. i go there disturb them.
This post has been edited by jasonhanjk: Oct 7 2012, 10:33 AM
Tassie Boboi If you studied the Genneva scheme carefully, you will find that Genneva sells the gold to you at 20%-30% ABOVE market price and they use the (profit) margin to pay: i) their agents commission ii) you the hibah and iii) themselves as their profit
Basically, that has worked because gold price has been going up. If the gold price crashes, this scheme will go down the drain.
Do you think the company will (as promised) buy back the gold from you at the price you got it from them if the gold price collapses say 40% or more? That's clearly a big NO.
So investors just "Syiok sendiri", paying themselves while the price of gold still rising. They take comfort of physical possession of the metal, perhaps they will not lose all their money but risk is there.
You may also see those who have been getting "good returns", to plough in more and more of their money driven by greed (yes the same old desire than have time and time again ruined the lives of millions).
That's where the danger lies. So folks, my advice is to just invest what you can afford to lose.
any pro here can clarify whether this "non destructive testing using x ray fluorescence spectrometry" testing technique able to test "gold cover copper" ?
X ray is surface test. Have to cut open the gold. Gold smith may do listening test before cut open.
Faqs from the Singapore Police Force on Genneva Pte Ltd.
» Click to show Spoiler - click again to hide... «
Q What is the status of the investigation?
A The investigation is underway. The CAD will inform of the final outcome of the investigation.
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Q
I have entered into agreements with Genneva Pte Ltd to buy gold products. These agreements entail monetary payouts and buy back guarantees. Can Genneva Pte Ltd continue to fulfil its obligations under these agreements in view of the investigation by CAD?
A Queries pertaining to monetary payouts and buy back guarantees by Genneva Pte Ltd under the agreements should be addressed to the company.
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Q
Do I need to make a report if I have bought gold products from Genneva Pte Ltd?
A If you have not been contacted by the CAD to provide information on your payments to Genneva Pte Ltd and you wish to lodge a police report, you may contact the CAD office at 9637 7625 during office hours. Our office hours are 8.30am to 6.00pm on Mondays to Thursdays and 8.30am to 5.30pm on Fridays. Alternatively, you may go to the nearest Neighbourhood Police Centre to lodge a police report.
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Q
Will CAD assist to recover monies/gold placed with Genneva Pte Ltd? A The purpose of the investigation is to determine whether any criminal offence has been committed. If there is criminal wrongdoing, the CAD will do its best to ensure that monies that have been illegally obtained are recovered and properly dealt with according to the law.
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Q
What right does the CAD have to seize gold or money that I have deposited with Genneva Pte Ltd?
A Under the Criminal Procedure Code (Chapter 68, 2012 Rev Ed), police officers are empowered to seize any property in respect of which an offence is suspected to have been committed.
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Q
I deposited gold with Genneva Pte Ltd. Can the CAD confirm whether my gold was found in the company premises and is now seized by the CAD? A At this time, the CAD is not at liberty to publicly release the details of assets seized in the course of the investigation into Genneva Pte Ltd. As such, we are not able to confirm whether what items anyone has deposited with Genneva Pte Ltd is among the assets seized.
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Q
I deposited my gold with Genneva Pte Ltd. If the CAD has seized it, can I take it back now from the CAD? A The properties which the CAD seized during the course of the investigation cannot be dealt with except at the direction of the Court. The CAD will apply to the Court to deal with the seized properties at the conclusion of the investigation and any resulting criminal proceedings. The properties will be kept in safe custody until then. At this time, we are unable to estimate the length of time these processes will take.
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Q I paid money to Genneva Pte Ltd just a few days ago and have not received my gold or my returns. If the CAD has seized the money I paid to Genneva Pte Ltd, can I take it back now from the CAD? A The properties which the CAD seized during the course of the investigation cannot be dealt with except at the direction of the Court. The CAD will apply to the Court to deal with the seized properties at the conclusion of investigation and any resulting criminal proceedings. The properties will be kept in safe custody until then. At this time, we are unable to estimate the length of time these processes will take.
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Q How do I contact the CAD if I have queries on the matter? A You can contact the CAD office at 9637 7625 during office hours. Our office hours are 8:30am to 6:00pm on Mondays to Thursdays and 8:30am to 5:30pm on Fridays.
This post has been edited by jasonhanjk: Oct 8 2012, 12:07 PM
Hey guys, no need to be so righteous and scold me!!! If you are intelligent and din get involved...then kudos to you!! But have a heart for those who dont have money nor gold in hand!! I know many ppl who are affected personally so i hope BNM will rtn to the customers what is theirs.
I accept everyone's opinions but the customers deserve answers whether good or bad!! Can we all agree on that??
BNM shud come up with their report once and for all and then no more speculation. They froze the previous company as well as many other companies on suspicions of whatever and no news after that?? So what happen to all the gold and $$$?? Who gains the interest on this after so many years?? Can anyone answer that??
Let me tell you this. I am only going to scold those Genneva customer that think they are the victim of BNM and not Genneva. So are you one of the customers that want to blame BNM?
Being cheated is one thing, i mean throughout our life, sure got kena cheated before be it cheated in ponzi, cheated in garage sales, cheated in some investment or even cheated when buy stuff from pasar malam. That's not the funny part, the funny part is the person that get cheated still defending the CON man/company, that's a new whole level
That is because the first Genneva CONpany did not go down. Also do note the raid on the 2nd company, gold maintain stagnant for a year. It did not go bust.
These 2 factors are the reason why people got con and still support Genneva. If gold price slump further, then more people will support BNM actions.