may be they should come out with blacklisting the bod members, those who involved in scams, ponzi, pyramid, should not be allowed to open any new business until they settle all the shits before.

Amno youth is Genneva superhero

do u know scratch and win scam still roaming the street, even it is a super slowpoke scam ???

ya, my fren oso got kena, they should just raid the place over and put the founder in jail.

TS, I have my own doubts about these investment schemes, but I don't get how your post 'proves' anything? BNM just explaining why they raided. Still under investigation.

Genneve = vgmc alter ego

BNM update pretty much said they have found the company to be ponzi scheme

duh,..

BNM can check the company asset and their operating account to verify their claim on trading gold or not,... and whether capable of buying back and paying interest to their customer,... how do u hide any bank or money transaction from BNM ??? they are center bank,... they got access to any bank account statement....

Not exactly. BNM have the right to prevent any organization (with the help of various authorities like polis, SSM, etc) from continuing its activities that BNM "thinks" violates any financial regulation.

And that organization have the right to appeal (which genneva did not) or saman BNM in the court to PROVE that the said action was wrong.


the reasoning for this is, if you leave deposit-taking unregulated, any pakcik kedai kopi can take people's money and do whatever he wants without proving to anybody.


What I really don't understand from this whole mess is, why wasn't there suspicion by the "investors" when they deal with a company named geNNeva, and not geneva (the swiss location)? Surely by looking at the name itself you have to have AT LEAST a slight doubt that it's trying to associate itself with switzerland?

well at least now we know that AT LEAST 50,000 malaysians fail to understand obvious retarded difference. Probably these are the same people who would click on fake urls like googggle.com instead of google.com

This post has been edited by C-Fu: Oct 11 2012, 12:42 AM

LOL
isn't that statement proven they found the evidence?the statement is even signed by AG...waiting to go to court only..

owh. so, BNM already know Genneva is a ponzi, then the subsequent raid and investigation is to find more proof lah...

I only started reading a little bit about this news, but I was wondering, if people are asking BNM to faster finish their investigation, and then if the investigation finds nothing, then what next? still guilty right?

can anyone give me a simple graphic explanation how these genneva investment works.

something you can use to explain to a five year old ?

with every stupidity, fortune is made by the cunning ones. hoho.


now the bod members all just blame bnm, brainwash, ask investor put money to other scams, and continue to enjoy.

i remember bank give multiple warning about illegal deposit taking in gold investment company. but genneva always insist they are not investment company and dont take deposite

How to claim back my 10kg gold ah?

5 second google

thats happens alot in k..

brapa juta you invest bro?

like that ok la...
got real gold in hand, tak rugi oso