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Genneva proven a Ponzi Scheme, BNM says
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empyreal
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 Oct 10 2012, 11:48 PM
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Look at all my stars!!
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QUOTE(w3er @ Oct 10 2012, 11:46 PM) These ppl r so evil......When they cant sustain their scheme anymore... What they do? They ask the gov, which are probably working with them all this while, to raid themla Then ppl will go hoo haa for a while But after a few month.... Nobody will remember this anymore Juzt like mamaktir said " melayu mudah lupa" senang tipu! isnt it easier for them to just run? lol conspiracy theorist |
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empyreal
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Oct 10 2012, 11:54 PM
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Look at all my stars!!
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QUOTE(sHsIkuA @ Oct 10 2012, 11:49 PM) they run means they will labeled as scammer in this case they can say BNM is in the wrong and in the future they can scam again they dont run they get charged in court for a whole host of crimes. theyre probably already out of the country already QUOTE(EarendurFefalas @ Oct 10 2012, 11:50 PM) Does BNM know how these people get the "Shariah compliance" ? This only make shariah compliance looks really bad Last time also have business like this. But selling vase. Same method buy the vase, get monthly income and when the time is up, the company buy the vase back or you sell it on your own im sure their shariah compliance is as legit as their business model |
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empyreal
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Oct 11 2012, 12:08 AM
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Look at all my stars!!
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QUOTE(w3er @ Oct 11 2012, 12:02 AM) U know how long already this genneva has been operating? And how many complains have been lodged against them??? The gov, police and BNM, not only went silent mode, but did nothing against them for so long And genneva was growing bigger and bigger each day No thanks to mamaktir and rosmah help and i suppose the investigation period was only like 48 hours, eh, before they conclude it? im sure you also believe that the authorities just decides to raid businesses randomly without extensive investigations or warrants besides, they WERE complaints. do you really think that the authorities would just raid a business without a complaint? "yeah, today's a slow day... maybe we should raid this florist just to see if she's laundering money". why stop there "lets arrest this random passerby then see if he's guilty of something while he's in lockup" really? |
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empyreal
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Oct 11 2012, 12:13 AM
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Look at all my stars!!
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QUOTE(sHsIkuA @ Oct 11 2012, 12:04 AM) maybe I am new to this but correct me if I am wrong, the first case of Genneva (under the name of GSB, this time its GMSB) is still being on trial since 2009... they can still comes up with the current Genneva even when the first one is still under investigation Cool isn't it, when you are in the suspected list but still can open a new company and con people with it. not sure if they're the exact same people, but genneva (the new one) has already been on the fraud list for a while as bnm was doing their investigation. cant tell people to stop their business until you have enough evidence to raid and charge them, right? the best bnm can do is to list out the companies that are suspect if people are still insistent on doing business that is ALREADY BEING INVESTIGATED then its really the investor's fault for taking that risk |
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empyreal
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Oct 11 2012, 12:58 AM
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Look at all my stars!!
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QUOTE(duckaton @ Oct 11 2012, 12:52 AM) not so much losses. go buy poh kong lose even more, sell back or change other jewellery kena potong 25% at least + workmanship. even if its real gold, people who will take that gold may buy it at a discount. 20% premium when buying it + 20% discount selling it. mighty big loss there if they bought it at the peak |
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empyreal
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Oct 11 2012, 08:37 AM
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Look at all my stars!!
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QUOTE(aressandro10 @ Oct 11 2012, 01:49 AM) so basically speaking, the buyer actually 'loan' a 2 gold bar worth of money to Genneva with interest. And in due time Genneva will pay it back. beside being an illegal fund collection and stuff, its actually quite legit. depending on how much is the interest rate they agreed, Genneva can afford it by investing the capital money and stuff... they can also be laundering money, selling drugs or traffic in child prostitution. so does anyone know what their business is? they dont even tell that info to their investors - the people who put money into their business. the bnm probe according to the post shows that bnm found that they basically have no business model. so how? |
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