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.

can u brief the entire story?

press release by BNM dated 5/9/2012.

Update on Financial Consumer Alert List

Bank Negara Malaysia would like to refer to the recent media reports relating to the Financial Consumer Alert List published by the Bank. The introduction of the List is to provide members of the public a quick reference and guide in making decisions in relation to various financial services offered by non-licensees.

The Financial Consumer Alert List essentially refers to the list of unregulated person or companies who have been mistaken as being licensed or permitted by regulators including Securities Commission Malaysia, Ministry of Domestic Trade, Co-Operatives and Consumerism, Companies Commission Malaysia and Cooperative Commission of Malaysia on their business activities.

The List comprises of companies or individuals not licensed by the regulators and which have received numerous inquiries from members of the public. The List is not exhaustive and will be updated regularly for public's reference. For further information, members of the public can contact BNMTELELINK at 1-300-88-5465. The Financial Consumer Alert List is available on Bank Negara Malaysia's website (www.bnm.gov.my/consumeralert).

Bank Negara Malaysia would also like to advise members of the public that they are free to undertake outright buying and selling of gold. However, members of the public should be cautious of various illegal deposit-taking and investment schemes especially in precious metals such as gold that entice them with high returns. These schemes promise high returns over a short period of time with the option to buy back the gold. These schemes could be "get rich quick schemes" or termed as "Ponzi schemes" where the investment money collected are used to pay out as "high returns" to other investors. Such schemes are illegal and fraudulent and members of the public may lose all their money.

Members of the public are advised to check with the relevant authority when dealing with companies or individuals offering seemingly attractive business opportunities or financial services and not licensed by the relevant authority.

Bank Negara Malaysia
05 September 2012

© Bank Negara Malaysia, 2012. All rights reserved.


http://www.bnm.gov.my/index.php?ch=en_pres...ac=2646&lang=en

sounds familiar eh?

funny that BNM release that 1 day after this article... makes me wonder if this appears to be a warning/reminder to the public to be mindful about companies carry out "ponzi-like-scheme".

that clearly indicates something, no?

btw... if the company indeed is moving like a bullet train, it would have been listed by now.

maybe i talk too much.

This post has been edited by merce: Sep 6 2012, 06:10 PM

all these talks of big oil projects, mining biz etc... sounds like a BIG investments and BIG return.

but till now still cant pay the 2% return to customers... still pending restructure? or "new business model guideline"?





"Geneva Malaysia Sdn Bhd" isnt specify enough?



This post has been edited by merce: Sep 18 2012, 01:18 PM

wow... 1kg gold bounty man!!!!!

but credibility coming from an anonymous nick, and a company who cant even pay its 2% return as promised to its customer/investors(?) on time...

on 1 hand, he is devoted to Allah, on the other hand Allah taught him to be arrogant.

i pity Allah for having such a pathetic believer... its truly a disgrace.

this is not Genneva gold mah... of course not gelenti its pure 100% gold.

u ask anoy me see... con-perm Genneva gold 110%!!!

---

Added on September 27, 2012, 4:52 pmthe only method i know is by melting the gold bar and check for impurity of substance... which is still the destructive way. apart from that i dun think any other method could exam the purity of gold. even drilling into the gold wont do any good if the gold had been mixed with other metal, ie cooper (although mixing it with cooper will make it slightly red-ish)

i came across this link while searching for method to examine gold (just out of curiousity... ) looks good enough for a test.

http://www.wikihow.com/Tell-if-Gold-Is-Real

have fun examine ur gold... and good luck.

This post has been edited by merce: Sep 27 2012, 04:52 PM

its about time they raid Genneva Gold's office. (actually i think its a little too late... pretty sure millions of hard-earned RM are lost entirely.)

but the fact is that a raid will not end this. it only shows that the complaint level has reach an alarming state and the authority has to do something for public relationship sake.

these sort of cons will mushroom now and then, and it'll be the same story once more, it never ends...

as what learn2earn8 mentioned, always ALWAYS ALWAYS do your study before investing. you do not need to have a PhD in (fill in the blank) to understand the basic of a business, you just have to read more often.

to those who lost their money, hope this is the wake-up call for you guys. for those who are still looking for a miracle that they will get the money back... hate to break the news but fat chances peep. u'll probably have better luck with striking 3 ToTo/Magnum/nombor ekor in a row.

i dun blame greed entirely, i blame greed AND ignorance.

well chances are pretty slime for them to get back any of it once BNM freezes their account. and even IF they are holding the physical gold, its already at least 20% lost of value (without taking consideration that it may not be 100% gold).

Genneva Gold S/B cant possible have that much gold in their "safe", so its only a small fraction of these "investors" has physical gold with them. else its just another piece of self-claimed-gold-valued-recycled-paper.

anyway, couple months down the road it'll be another similar company opening running the same operation again. lets see how episode 3 goes. =)

thumbs up.

---

Added on October 2, 2012, 1:25 pmwanna grab a coffee next weekend?

This post has been edited by merce: Oct 2 2012, 01:25 PM

the reading here is not referring to the fine print, but on the matter such as how does an investment tool works, or how company generate profits from its business etc.

hmm... must be my bad england.

my personal experience with AGENTS (ok lah i'll say they are CONsultants) from Genneva... exactly the same as above.

they r really like a bunch of monkeys trying to make a point in english, but when u ask them about the business model and operation they give u no info but "this is confirm making money and safe one!!" bla bla bla... (eventually the question was never answered... EVER)

wanna see how a 2nd-hand car sales person trying to sell Genneva product? i can introduce u to the "agents" (i meant CONsultant) i came across for the pass 4 years.

(no offence to 2nd-hand car sales persons in this forum... )

worst case scenario?

-burnt everything they invested.

-depress/heart attack/stroke/(insert other possible stress-related medical conditions)

-vow never to invest again.

-discriminating about all other investment tool.

-getting a parang and chase after all investments product manager/agents/traders/brokers/bankers...

...the list goes on and on?

...i'm just saying...

got "lombong emas" still need to raise fund meh? where is the logic in that?

hahaha!

actually these are the ways how the bank make profits. its not all but its part of it if you are talking about commercial bank.

but i wonder what do HSBC, JP Morgan, Bank of England has in common? seems like u know alot about bank's business model. please to enlighten us.

that could be part of the game plan. its not their 1st time, and its a heck of a way as an exist plan.

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.

This post has been edited by merce: Oct 5 2012, 02:57 PM