I am here just for some facts to share:

First of all, Genneva welcome everyone to test out their gold collected as personally i tested so many pieces including recent ones.. I wish i can find one which is fake or “not so real”, coz i thinking that way i can earn more money as Genneva Malaysia will be willingly pay me a big chunk of money to cover the story. But until now i bought so many bars and cant find any fake ones. Even the Assay company director asked no need to spend anymore money testing my gold. Haha.. Because he knows if Genneva Malaysia Give out any Fake gold, tomorrow it will came out in newspaper and no more in operation.

Secondly, to whom that says Genneva Malaysia selling gold at mark up or over priced, then you must be saying dont buy any gold from All the gold smitch shop in town as they are selling at same market price as Genneva. Bare in mind, Genneva Malaysia is also a retailer selling gold at much much much lower opoeration cost then any other ppl out there. One office in each state of Malaysia we can sell 3Billions worth of gold, ask yourself, do other gold smitch shop sells such a n amount of gold?? NO

When you like to compare buying gold from Genneva Malaysia and from bank, then you always have an option to buy from bank as their price is much lower. Buy and wait for appreciation and sell back. Earn your money. But today, Genneva Malaysia sells at retailer’s price, people cannot accept. I dont understand. I am a big buyer in Genneva, i have check my price with gold smitch out there.. especially the gold smitch starts with P**. I dont think i am so stupid buying from Genneva as with the same price,i got 2% in average a month from them. Even one day they decided not to pay Hibah anymore, i am not at the loosing end. I have my Gold Bar.

You see, ppl always asked a stupid question, how Genneva Malaysia Sustain their business by giving out hibah. With all the money collected from customers, do you really think 2% a month is a lot??? Example: if you start up a business at 100k capital, if you only can make 2% a month, which is 2k, do you think you still wanna run the business? Your workers probably will be more happy coz their salary could be 1k or 2k and above. With 3Billions ringgit that they collected, they can roll at anything they want, definately one month can earn more than 2 or 3% profit. Some of my friends dont plan even to invest in Genneva because to them 2 or 3% is just way too low profit that they can make. I just dun understand why ppl out there thinks it is a lot.. haha.. Probably they never see how much money ppl can make with capital in hand.

Thirdly, Genneva SDN BHD use to run as a china man company. They take in cash at any amount and Genneva give out Gold to customer. They will never know the source of money came from. It is so easy to launder money by buying some gold from Genneva as when contracts ends, just sell back and get all your money back and it is clean money. Now company is governed by AMLA, to prevent this thing from happening. Genneva can take only cash up to 10k and rest are all cheque.

Genneva SDN BHD and Genneva Malaysia SDN BHD are totally different company. They have totally different directors and shareholders. DO YOUR SSM check before you start saying a word. Yes, the people behind are the same, but what is the outcome of the court case for money laundering? NOTHING.. they can find nothing that the directors did wrong.. In court, you are guilty unless proven innocent, so no choice but to start a new company by the name of GENNEVA MALAYSIA SDN BHD.

Fourthly, ask yourself, if one day Genneva Malaysia decided to put a clause “Guarantee buy back”, will u think that, OK now it is safe to buy from Genneva malaysia as they will guarantee buy back their gold? I would say stupid ppl only will think that way. Tell you why, “Guarantee buy back” clause doesnt mean anything, they will never also tell you how much they will buy back. CAN THEY BUY BACK AT 100/g? Yes they can. Now do you really think that that clause makes any differences?
NO.....

Genneva Malaysia sells gold at retailer’s market price and customer get the gold they buy. Actually by doing this, no one is owing anyone money. Hibah is discretionary means they will pay to customers so long that they wanna run the business as this is their business model. If one day they decided not to pay anymore Hibah, do you think they will still get business? NO... So simple as one day they still wanna run their business, they will pay Hibah. Even if one day they decided to close shop, there is nothing wrong with that also. As you get your gold and they get the money. Deal ENDS. Whats the problem? Keep the gold and wait for appreciation and sell outside la. Greed is the only thing that ppl have that is ruing their life. Who asked you to mortgage your house or take a personal loan to buy gold from Genneva Malaysia? Just put in some of your savings to buy gold and get the hibah. Not taking personal loan to earn more interest then the one you are paying.

If anyone can find one piece of GOLD from Genneva Malaysia That is fake, i can buy from you with original price and bring back to Genneva Malaysia to claim because i know i can make more money that you do.. just blackmail Genneva say you will go to the press, they will pay you tons to money just to cover your mouth. Because if it really happens, that’s it for the company...

If you ask me will the company close down? Yes it will.. even the directors of Genneva malaysia will tell you that.. but when? 20 years later? 5 months later? Every company can close down come on.. Dont be foolish. But eventually you still holds the piece of Gold wafer certified and tested by ASSAY company to be 999.9 GOLD, you can always liquid it with immediate cash,  with a small percentage taken away. BUT who ask you to liquid it immediately? Wait for gold price to go up and sell.. 10 years ago, per gram is only RM30 and now in 2012 is RM200/g, what do you think 5 years down the road will be.....

Ya but they bought the gold at a very high premium.
1. Where can they sell and get back their initial investment amount.
2. Is it real gold.
3. Currently the price is going up but until when? At some point there will definitely be a price correction.

IF i waz Genneva,

I WILL OPEN MY BOOKS TO THE WHOLE WIDE WORLD

TO SHUT THEM UP!

look what i found!!!!

http://thestar.com.my/news/story.asp?file=..._ref_map=%5B%5D
Genneva, a new age biz model

I HAVE been an entrepreneur and business consultant for over 18 years and have had the chance to study and formulate hundreds of business plans and financial models for various global brand multinational corporations (MNCs), SMEs as well as governments all over the world.

I am also an active investor and have invested my own money in a myriad of investment products and trading systems for over 15 years.

About two-and-a-half years ago, I was introduced to Genneva Malaysia’s business model.

The business model of Genneva is truly revolutionary, innovative and true to its spirit – a blue-ocean business strategy.
These are the same principles that our current Malaysian Government wants us to practise and build on.

The 24% to 36% returns that Genneva Malaysia offers is achievable because its underlying asset is physical gold bullion, plus Genneva Malaysia has an innovative system to generate even greater returns as a company.

Getting a return of +25% per annum with an upside of around +40% is possible with several trading and hedging systems.

It profits from every gram of gold they sell to clients at retail prices. Combined with the increasing price of gold plus with the hedging systems I just indicated, giving 24% to 36% every year is possible.

Genneva Malaysia’s business model is not a ponzi scheme and it’s definitely not a get-rich-quick scheme. Its business model is called a Wealth Sharing Platform, because that is what Genneva truly does. It shares its profit (and wealth) with its clients.

Genneva Malaysia’s biz is the new age biz model.

And what started as a Buatan Malaysia, five years ago, has since grown into one of the leading gold bullion traders across Asia with businesses in Singapore, the Philippines, Hong Kong and China (where Genneva has a 30-year operating licence in Beijing).

Anything new takes time to understand and lots of resistance to change, especially when there are incumbents whose business will be affected by such change and new models.

We, the customers, are truly grateful there is a Genneva Malaysia.

You may kill Genneva, but another will rise tomorrow with the same proven business model. It’s a matter of time that the banks and financial institutions will need to also adjust and change with the times.

KIM MENG
Petaling Jaya
not sure if he is a forumer in LYN... but 15 years of investments experience and he still cant tell how a ponzi scheme looks like, i really dunno what to say...

really a sad case.

when i asked them they always say is because they managed to buy cheaper gold

then i continue asking them, i also can buy gold from overseas with very competitive price, so whats the difference?

then they will bring me to round round round garden

Actually Genneva business have no direct affect to any goldsmith shops because goldsmith shops merely selling goods which does not give interest (only capital gain when gold price increase). Most goods are the jewellery instead of the gold bars. They could get better offer from the banks since the dispersion provided by the banks are much more lower.
I believe the business of Genneva could crash the economic of whole nation including any industries like transports, properties, educations and so on. This is because people are relying on the fix return and have a wrong perception that this investment will not collapse. At the end, work less, spend more, increase liabilities.

The management blame the authorities, banks and goldsmith shops in order to avoid any responsibilities. They are creating chaos.

What will happen on Oct 15 when the 14 days is up?

My guess.....
BNM will say they have found some irregularities with the company and have passed the investigation papers to the AG chambers for further actions.....

......there goes another waiting period.....

I think Genneva consultant are getting very uneasy each day.

Even Genneva supporter facebook are getting less comment now. Its start to dying off... soon there'll be occasional update and ranting while court case is on-going.

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 

Calling Genneva investors. It's time that you guys gather together and lodge separate legal suits against the company, the directors/management and the CONsultants. Go after their personal wealth so you may recover something.