Chronology of events (still developing):-
On Oct 27, GMS FB admin decided to call off the Occupy Putrajaya:-


On Oct 24, 2012, Genneva manager come out with new memo:-


On Oct 24, 2012, Genneva Supporter Group organize Occupy Putrajaya:-


On Oct 23, 2012, shit hit the fan when Deputy Finance Minister say Genneva got no money to pay all customer.


On Sept 19, 2012, fake letter using Genneva letterhead posted in LYN and Genneva Supporter FB prompting Genneva lodge
police report:-


Management official response on 15 Oct 2012:-
Text version:-

Huge JPEG version:-

EddyLB
For those who are interested, the names of directors and shareholders :

No need start new post lar

The original is

http://forum.lowyat.net/index.php?showtopi...&#entry55233821

No need start new post lar

The original is

http://forum.lowyat.net/index.php?showtopi...&#entry55233821

Pat Lu is desperate lar.....

Since she is one of the top CON-sultants, I believe she lose more than others.
I know one CON-sultant who proudly says she has about 5kg of gold with her and when I ask how she got so much money to buy them, she teach me a method called LEVERAGING....

Her 1st capital is RM200k...which bought her 1 kg...then she go pawnshop and pawn it to get cash...
She can get about RM150k cash...then top up with RM50k capital....and buy another 1kg....
This goes on for 5 round....and her total capital is RM200+4(50) = 400k.

On hand, she will have 1 kg of gold and 4kg at the pawnshop.
With 5kg, she gets about RM20k hibah per month....pays the pawnshop about 6k interest (1% x 150 x4)...balance 14k.
So, with a capital of 400k, she gets about 14k per month....that is 3.5% per month!

If all the CON-sultan practise this, they will run to Mongolia soon!

the original thread locked.
ohh. i understand this. but how about genneva itself? I know many speculate that they just take another client money(which genneva get by selling gold at higher than market price to their client) and give to another client. Me too think thats their modus operandi. But anybody know EXACTLY how they operate their business, how they can give their hibah?

Genneva CONsultant youtube page:-
http://www.youtube.com/user/mygoldgoose?feature=CAkQwRs%3D

BNM’s INVESTIGATIONS HURTS INVESTORS AND GDP’S GROWTH

Bank Negara’s raid against Genneva and other gold companies has caused grave harm to tw0 million investor’s life time saving. While it is appreciated that Bank Negara intervened to curb malpractices such as money laundering, misrepresentation and failure to submit documents, the central bank has failed in safeguard and protect the investors’ lifelong savings. Does it serve any purpose in wanting to adhere to the rule of law precipitating grave pain and suffering to about 2 million dependents of investors?  BNM has failed to communicate and alert the investors on the illegality of these operations. BNM should have the maturity and tenacity to act decisively on the promoters and managers with minimum hardship and damage to about 200,000 gold investors. 

BNM should have given a grace period to the Genneva management to return the investments. During this grace period BNM should conduct their investigation and identify the legal loopholes and arm themselves to prosecute the management. Instead BNM freezed all assets and caused untold financial problems to their investors. Worse still, customers were told that Bank Negara had carted away about 200 kilograms of gold and cheques which were due to be given to investors. If the Government does not allow the cheques to be disbursed then the expansion of the economy will be curtailed. Crying foul, investors have cried out in The Star: “Please do not take away our money and gold.”

Genneva’s Syariah compliant gold was officially launched by former Prime Minister Tun Dr Mahathir Mohamad, on Dec 15, 2010. See YouTube:  (http://www.youtube.com/watch?v=b0-Nso97tD8). The former King, Datin Seri Rosmah, royalties and other prominent BN personalities have graced Genneva’s dinners and official events. How is that an operation which is deemed illegal has so many dignitaries officiating the so called illegal companies programs and functions. The attendance of the ruling party dignitaries has given the impression to investors that Gennava management has the approval, support and acceptance of the government.

Genneva’s business model is praised as revolutionary, innovative and true to its spirit – a blue-ocean business strategy. It is for this reason; Prime Minister has called on entrepreneurs to introduce innovative products for the expansion of the Gross Domestic Product (GDP). Looks like BNM was sleeping all this while and when they suddenly woke up to the thriving gold trading they suddenly realized the illegality of the operation. Gold trading is permissible and there is no restriction on it, as confirmed by a letter written to Genneva by the Finance Ministry.

With so much blatant oversight on the part of BNM and ministry of finance why these harsh and uncompromising actions on the investor’s money? BNM should make all effort to return the monies of investors to reduce the financial burden of Malaysians.

Genneva Facebook:-
Genneva CONsultant scolding BNM and Majlis Fatwa youtube:-

Yeap Kim Lai @Haresh, BNM mana tau keja. If our govt have the Singaporean mentality our country would have been many many times better then Singapore with our vast natural resources compare to them.

Drooling at the numbers of voters, now the opposition put a hand into the fiasco.....

From Senator S.Ramakrishnan of DAP
http://rama4change.wordpress.com/2012/10/1...nd-gdps-growth/

GaryFriday, September 07, 2012
I have studied the actual contract, they sell at least 20-30% above spot gold price, but when you sell back to you, they only guarantee buy back at spot gold price, not at retail price. That means whenever the scheme collapse, they are only legally bound to buy back at spot gold price (20-30% loss), might even be more depending on how much spot gold price drops to.

Aspenvit « Reply #383 on: October 07, 2012, 11:28:42 PM »
Looking at genneva business model, it is not a ponzi scheme. It is a scheme whereby genneva will always make money and will not collapse if managed properly, even if the gold price goes down.

In gold price goes down, genneva lose nothing. For example:

Genneva sell a customer 10g a gold worth rm 1000,contracts 3 months, it earns rm 300 (spot price rm 700), it pays hibah of 2% for 3 months, ie 6% total = rm 60. So net profit rm 240 for genneva.
3 months later, gold spot price dropped to rm 600, if customer no sell back, contract expires. If customer sell back, he gets rm 600 from genneva. Genneva lost money? No, it buy cheap back from customer, and yet holding the prevous rm 240 profit.

Drooling at the numbers of voters, now the opposition put a hand into the fiasco.....

From Senator S.Ramakrishnan of DAP
http://rama4change.wordpress.com/2012/10/1...nd-gdps-growth/

the original thread locked.
ohh. i understand this. but how about genneva itself? I know many speculate that they just take another client money(which genneva get by selling gold at higher than market price to their client) and give to another client. Me too think thats their modus operandi. But anybody know EXACTLY how they operate their business, how they can give their hibah?