Wow, I find it amazing that you call me a scammer without prove & evidence. You must be one of those typical malaysians "Guilty until proven innocent".

Please prove that I am a scammer before calling me one, otherwise STFU & tqvm.

haha, but bro celica so mean, said i'm poorfag, indeed i'm really poorfag and jelly him la wei, that's why i have to be in the rat race.
maybe i should think to resign tomolo and invest all my coffin money into bro celica biz liao, 15% wei, dun pray pray.
i put in 100k, 1yr i get back 180k liao, walaoeh, that's 15k per month leh!! i become manyzer also can't get 15k per month leh

He should be ashamed of himself, 15 years of experience and Genneva 

***********>
Lim Kong Sang .....Genneva management and my upline, please note though my cheque cleared on 28 Aug 2012 over for 1 month plus but yet I have not received neither your Gold Bar or Hibah. Therefore please advise me how much of faith do I have to put in ? Do I have to open my heart for u to see...my faith & trust. I have taken all the steps such as send 3 personal email to PM office, call BNM & etc but in vain. Please do no challenge a person whose money is hard earned. YOU DO NOT WISH TO SEE A LION ROAR ! YOU WILL REGRET !

13 hours ago

*******************

This msg was extracted from http://www.facebook.com/notes/genneva-gold...388378461233682.

Faith losing among investors are getting in spreading .... the more comments they read from others .... they will be back to real world from their dreaming world!!!

Don't invest something you are not ware of. Any ROI which is 5% better than ordinary FD, you have to be careful and understand its risk very well. I have been investing at part time basis for more than 20 years....my average ROI is 6%. I am not a lazy investor. I do a lot of study, analysis and follow up of investments. That much I can accomplish. Maybe, I am stupid, not as clever as Genneva investors.

Lim Kong Sang is downline of Genneva Gold
More and more downline will start to ask. 

---

Added on October 9, 2012, 3:12 pm

Rich Dad, Poor Dad book. The bible of pyramid/ponzi scheme. 

Hi. Just wish to discuss more on the mechanism of how the money flows and give my opinion. Welcome comments from forumers who did the earlier calculation of 25 percent mark up from spot, and the difference is used to pay back the buyers (investors).

My view is from a view which I think Genneva Malaysia in the long run it not sustainable.

However I think the comparison of 25percent above spot price is not a fair comparison. Meaning the spot price or the per gram price sold by maybank or uob bank for the gold passbook savings rate is not a fair comparison. This is because for the gold passbook savings by local banks, if wish to have delivery of physical gold you have to pay some additional fees, so that fees needs to be added for the comparison.

I think the fair comparison is to compare the price of the international gold bullion sold by uob bank or maybank for their kijang emas local bullion coins.

So for an example. Genneva 1 Oct 2012 rates per gram. RM 218 per gram.

I use todays (I dont have the local banks bullion rates for 1 Oct 2012) rate of gold of 9 Oct 2012 . Assuming very small difference in 8 days.
8 Oct 2012 gold bullion rates.
1 ounce kijang emas local bullion sold by maybank RM 5805, RM 204 per gram. 1 ounce= 28.35grams
1 ounce aussie nugget, maple leaf or singapore lion sold uob bank RM 5711, RM 201 per gram.
10gram pamp by uob bank, RM 2025, RM 202.5 per gram,
20 gram pamp gold sold by uob bank, RM 3840, RM 192 per gram
100 gram pamp gold by uob bank, RM 19054, RM 190.5 per gram.

Gold passbook savings account by uob bank RM 176.4 per gram.
Gold passbook savings account by maybank RM 179.41 per gram.

As mentioned above, I am comparing the gold bullion physical gold rates instead of the gold passbook rates or spot price since there are additional fees if wish to take physical gold delivery.

For the genneva buyers they have to compare with the closest size since difference size has difference price for the gold sold by banks.

As a comparison i would take the 20gram pamp gold bullion at Rm 192 per gram. Genneva gold bullion is at RM 218 per gram.
A difference of RM 26 per gram.  13.5 percent more that the pamp gold bullion.

So how does genneva as a company make money? or should i say come up with the money to pay the buyers the hibah, with only 13.5 % difference.
It is not a pure ponzi, where for example 2 buyers buy the same gold and only 1 gold bullion available for the 2 buyers. There are some cash net in terms of more cash than gold, since there are 3-4 weeks waiting time before delivery, but it is enough to pay the 2 percent.
As mention this from a point of view of reason, I am excluding any vaque explanation or profit invested to get the 2 percent. Do not believe they are hedging, have some oil contracts bla bla. If really so good those contracts, can pledge the contract to banks and get cheaper loans, no need to get capital from public and giving them 2 percent per mont. Hedging has an additional fees to it also.

But i do think they are making a 25-30 percent from the gold bullion. Thats because they are producing their own wafers. Example you sell gold to goldsmiths, there are taking scrap gold price, below 25-30 percent from the current gold bullion rate. Below 25-30 percent so that the gold can be melted and reproduce as a gold bar or jewellery.  So lets say, it take 10 percent of the gold cost to melt and produce back the bullion. So thats 10 percent profit for the goldsmiths or gold manufacturer at the gold market price of gold bullion sold banks as comparison. So genneva 13.5 difference to the banks sold gold bullion plus the 10 percent profit from taking scrap gold to produce own gold (as a comparison), still a 23 percent mark up profit (for 1st time sale of genneva bullion). 

So if you as the genneva company how do u make money? is my question. You are not investing in some great investment returns, because no need of public money la. If a buyer keeps on buying n selling the gold from genneva he would make the 2 percent, and genneva would be at a loss when the 2 percent per month exceed the initial mark up.

What i think is, from genneva website or contract, it does not guarantee the buy back or the 2 percent hibah. Even the website does not guarantee the buy back, at some point in time genneva would stick to its original statement, where no buy back and no hibah, once it has grown large enough and public are buying gold in large quantities, with longer contract expiry.

If a buyer keeps buying more gold each contract ends or just keep increasing his gold purchase, or a rise in the gold price is enough to buy time for genneva gold.  Example. I buy 10 grams, 2 percent hibah, buy 20 grams, 2 percent hibah,  50 grams, 2 percent hibah. 100 grams, then at some point in time, no more hibah and buy back, Genneva makes money from selling a huge amount of gold from between contracts starts and ends, say 6 months.
Assuming the directors wish to stick to the contracts and not break any agreement and still make money, instead of close shop and the later investors lose all their gold.

What do you think?