4. Does GENNEVA have a license from Bank Negara Malaysia or Securities Commission Malaysia?

No. GENNEVA is a gold trader, not an investment company and does not fall under the purview of Bank Negara Malaysia nor the Securities Commission Malaysia. Learn more here.

Good point bro.    One of the things that I wanted to talk about too... is the amount of power that is given to them to be able to FREEZE the whole company asset.

Does anybody know if there was a Court order release for the Freezing of Genneva?

True it helps the investigation & prevent further manipulation, but it's kinda scarry that BNM can stop you anytime they like innit?

No la I was refering to the adverse effects on the company.

Imagine a legit company gets Frozen... wah lau, they not only lose potential business & face liao... a lot more things they rugi... question is who gonna pay for it... you get me?

Thanks for the info. I believe at least the authorities can give us some figure on the raid day. I believe these figure can be given without a through accounting analysis or auditing.  So that it is more transparent.
1. How much gold was confiscated on that day of the raid?  Important, verified by 3rd parties.
2. How much cash was confiscated on that day of the raid? Important.
3. How much is left in the bank a/c prior to freezing?
1-3 are the base line to protect the customer interest that the authority is doing their job properly

the rest how much commission and customer commitment that one got to go through auditing.

Wow, a police report made based on assumption, I wonder where she got her source from. I think it is more proper for the lady to sue or make a police report for Genneva SG rather than Genneva MY.

I thought these people get allocated physical gold, in their personal possession.

So, it's a relatively honest Ponzi scheme ("investors" bought way-expensive gold), rather than downright grab-all-you-can-then-cabut Ponzi scheme (except for these who gave them money but still haven't received anything, so they're the ones REALLY scammed).

u think BNM will simply raid any organization based on assumption? 

sorry bro, this is an inside info... cant share the source. I am not forcing any1 to believe me and take this as a fact. I am just sharing what I was told by some1 very credible. It is open for debate

its very funny the way the CONsultant talk. Every word they take so serious and very very sensitive.

If we say consultant is agent, they quickly deny it.
Also the customer is not investor.

All this wording play is so obvious its a MLM + Gold + pyramid + ponzi + scam.

QUOTE(tandukperak @ Oct 9 2012, 05:57 PM)
Back to the question, that sceptics ask. where does the 2 percent comes from? if it is from own buyer rolling, then genneva in trouble.
2 percent comes from hedging? other investments? please prove it.  very doubtful. You know why? because many many many companies or scheme say give high returns, but mostly not sustainable. High return just to entice your money.

I can only say my point of view up to today cos right now, everyone speculate only...that its either a ponzi scheme wic is unsustainable or those GM mgmt are expert bizmen make more than 40% profit yearly!! As u said, if they really make their money from investments and can prove it, then end of story and BNM should release their report and return the gold and $$$>

Whether its syariah compliant onot, it depends on those syariah council ppl, some say it is some say not....for me i dont care whether yes onot!!? sorry no offence to muslims. Its up to individual! Willing buyer and seller.

I can only say i am lucky that price of gold has gone up since i bot it at RM200/gm. It doesnt matter what price UOB gold is sold at cos if i were to sell it today, i get est RM168/gm wic is 16% loss right?? But if lets say price of gold dropped tremendously and goldmsith only give me RM150/gm, then my loss is 25%.

And assuming lets say i earned 2% x 12months hibah = 24% after one year.....then my profit is hibah gains 24%-gold capital loss 25%= 1% nett loss today.

But becos i earned 2%x6mth + 3%x6mth=30% after one yr...then my profit is 30% - gold capital loss 16% =14% nett gain today.

Becos of this formula, you can understand why customers dont really bother much about the gold price mark up of 20-25%. I went to listen to one of the gold talks and the mgmt said yes they use the mark up lets say 25% plus they also buy at wholesale price for the gold bars another 10% they make...they use this 25+10% to hedge/invest to make profit to share. If this is true, dont u agree its a sound biz? But of course if they just roll around in our money and dont invest to make more profit then all of us customers i admit are stupid and kena scammed lo!!

4. Does GENNEVA have a license from Bank Negara Malaysia or Securities Commission Malaysia?

    No. GENNEVA is a gold trader, not an investment company and does not fall under the purview of Bank Negara Malaysia nor the Securities Commission Malaysia. Learn more here.

Haha, this guy break the rule about not saying upline and agent:-

You guys arr.....everything not to your liking you brand it as Ponzi....

EPF has a legitimate business --> lending, invest in share market, invest in property market etc etc

If it makes money, then the member gets dividend. If it loses money, members net worth will be reduced. It is just that in the history, they never have -ve return. Low return like 2% got lah IIRC

Whereas Ponzi --> no legitimate business. They use fresh money to pay the older "investors" until 1 point the scheme cannot sustain