Based on my reading and understanding, Genneva 1 has different directors from Genneva 2. Technically, they are separate business entities although they share somewhat similar names.

This is a classic fly-by-night conman trick la. When your first business fail, you close shop or declare insolvency. Set up another business using different names (via relatives, spouses, etc) and start the party again.

Lack of awareness. Greed

I still believe the mastermind of both Genneva are the same people, just the directors (their puppets) are different

Alarm bell sound got drown by potential $$ and convincing talk by consultants.