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GENNEVA MALAYSIA, some facts.., READ and UNDERSTAND
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jimliew
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 Aug 1 2012, 02:30 PM
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Police report lodged against Genneva Malaysia in the Star today.
KUALA LUMPUR: The Muslim Consumers Association of Malaysia (PPIM) lodged a police report against a gold investment company alleging the company continued to claim its investments to be syariah compliant despite being renounced by the National Fatwa Council.
The report was made by PPIM executive officer Mohd Mustaffa Hamzah at the Ampang district police headquarters here Wednesday at 12.30pm.
“We made the report so police can carry out investigations into why the company still states on its website that it is syariah compliant, and hopefully make them remove such claims,” Mohd Mustaffa told reporters.
On July 11, the National Fatwa Council declared that Genneva Malaysia Sdn Bhd did not comply with syariah and national law in its gold investment transactions.
“Companies cannot simply claim they are syariah complaint when they don't follow the regulations, this can be very misleading if the public remains unawares,” said Mohd Mustaffa.
He added that the PPIM had recieved over 30 complaints from the public regarding the contradictory situation.
Mohd Mustaffa claimed that an investigation by the association revealed Genneva was operating without a license to take deposits.
“We worry that should the public continue to invest in Genneva, they could stand to lose their money should the company prove to be fraudulent,” he said.
According to the Bank Negara Malaysia (BNM) website, in 2009, it began investigations into Genneva Sdn Bhd under suspicion of conducting illegal deposit taking activities in breach of Section 25(1) Banking and Financial Institutions Act 1989 (BAFIA) and Section 4(1) of Anti-Money Laundering and Anti-Terrorism Financing Act 2001 (AMLATFA).
This post has been edited by jimliew: Aug 1 2012, 02:30 PM
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jimliew
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Oct 2 2012, 09:42 AM
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QUOTE(EddyLB @ Oct 1 2012, 08:05 PM) Going by your logic, the police shouldn't raid those drug dealer. They "cause hardships instead of penalising the drug dealer, it is not the drug dealer that cause the hardship, it is the (police).........so in the end result, who is making this difficult ? Just because they want to investigate, doesn't warrant them to penalise the drug addicts....." You are a Genneva agent being totally brainwashed by the company until you can't think logically  LOL! Well said, Eddy. I'm not an investor and have no interest in this Geneva except some friends went in. I advised them to get out asap some months ago. I think they are among those facing "hardship" now. |
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jimliew
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Oct 2 2012, 10:36 AM
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QUOTE(AUGUST777 @ Oct 2 2012, 10:23 AM) All the same, most of the bloggers here are those who sold gold and who loss much business to Genneva are blogging here in concerted effort in this forum. Is all the same bloggers who appear here most of the time. From their tone, you can discern they are not advising people but actually condemning Genneva with a vengeance. If i'm a blogger, i won't react like that. That is why most Genneva consultants are not interested in this forum. By the way, Genneva has to suspend its operation not because they con people and absconded, get that right. They broke the law?? It has a panel of lawyers to guide them. What the authorities do, they have every right to do it. What makes you think they won't raid your gold or silver business, if they suspect you? What makes you think the Inland Revenue won't raid your business if they suspect you evade paying taxes?? And why are you so happy and judgmental on this case just because you have said in this forum "I told you?" Genneva is being investigated but YOU HAVE ALREADY PRONOUNCE JUDGMENT AS GUILTY ALREADY?? A blogger don't react this way. You have a vested interest in this topic!! If guilty, still the gold has to be given back to the depositor. No depositors complain but they were raided...this is a strange case. You laugh but one day you will be laughed at! It always come back in a circle but in another way. Just watch! You said "with this I rest my case". Don't sound like a pathetic lawyer! You aren't in that class.  Sorry to say I disagree with you. I'm not a gold investor, nothing to do with gold. yet I too condemn Geneva, coz they are cheating people (and my friends). this scheme is unsustainable, the only people who will support it are those who stand to gain or gaining from it. unfortunately in any ponzi, sooner or later the party will have to stop and there will be losers. Just because no depositors complain does not make it legal. |
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jimliew
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Oct 4 2012, 12:36 PM
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QUOTE(Darkcursed @ Oct 3 2012, 08:24 PM) After watching 8tv news interviewing those 'investor',complaining this is my blood and sweat money,my mom coffin money laaa,my kids education funds la,i felt very amused and funny.look at all this pathetic people,shouting for their own money,the management don't even bother to send somebody out to stand up for them. no one points a gun at your head to put all your so call hard earned money in for this genneva malaysia company,you made your own decision with your own money,you just want to hear and know what is the benefit and what profit it brings you but ignoring the all the risk and bad possibility,and now you are saying BNM fault la,government fault la,is everyone else in this world fault la.not you are the one who made the decision of your own money in the first place ka? +9999 |
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jimliew
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Oct 5 2012, 03:32 PM
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From the FB page support, still a lot of people brainwashed still cannot accept the truth.
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jimliew
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Oct 9 2012, 10:27 AM
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QUOTE(celicaizpower @ Oct 9 2012, 07:32 AM) To the rest, met my buddy yesterday nite double confirm with him, was informed that the car that brought the gold was 2 Toyota Fortuner. Apologies for the wrong info earlier.  From Harrier now transform to Fortuner and one into two  And we are to believe Geneva keeps 500Kg of gold in its office shoplotI really enjoy reading this celica posts, so amusing. |
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jimliew
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Oct 9 2012, 10:34 AM
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Because they are cheap  |
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jimliew
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Oct 11 2012, 03:16 PM
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Listened to BFM podcast. Pat Lu is low class mentality. At least the Malay dude talked some sense.
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jimliew
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Oct 11 2012, 03:33 PM
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QUOTE(rexis @ Oct 11 2012, 03:30 PM) 60k members x 5 family members = 300,000 Malaysian affected. Look at how many people they have cheated. Now gold amount do not match with actual investment/sales, before all hell of consipracy break loose, it would be really kind if Gen can provide proof: 1 - the ownership/purchase order/cert/whatever of the total gold amount 2 - how many gold is "now demand high if you want to buy you have to wait lah" 3 - where is the money to order #2 4 - does #1 + #2 equals to the total investment amount? (If not, where is the gold/money) u are asking the impossible of geneva. BNM already said their are ponzi scam. definitely not much money or gold lying around their office. |
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