When u invest your money with an equity fund manager, the strategy is CLEAR - to try to deliver positive returns to investors via investing and trading in quoted shares. But HOW exactly they accomplish that is what u can call "trade secret", what is their stock selection criteria, how they time their entry, how they build the portfolio etc; those are not to be revealed, yes.

But with this Genneva thing, the CONsultants don't even know/want to reveal their STRATEGY! Ain't that red light clear enough?

I opened a random youtube of Genneva supporter (I think it was #3) where the consultant was clarifying the hibah - reporter asked if hibah is paid out in 3 months time, and consultant said, "no no it's not fixed... it depends... on market conditions, etc."

I think I just found loophole #3. even the hibah is fudgy.

But then Pat Lu says that it is a REGULAR INCOME

Hibab, commission, worthless gold and leverage, no wonder these CONsultants willing to lick anyone's shoe to get BNM off their backs.

Pat Lu now less brave.

Anyone know when BNM is going to make their next move or announcement? Can't wait for the next chapter in this drama.

if BNM were to reveal more damning evidence, she would have to fear for her life

can CONsultants be charge as well?

So many of them claim that hibah is needed to pay medical bills. How can the amount be unreliable?

"Sorry doc, but can I get a discount on the dialysis today? Hibah tak cukup?".

At first I sympathise with them....but reading comments from their supports, listening to bfm interview, i have lost my sympathy. they're freaking delusional, BNM already said the amount does not commensurate, and yet they still blaming BNM. accusing BNM holding the gold, which clearly does not exist in the first place!!

I wonder what sorcery does Genneva used on their consultants....

Anyway, I think those whose barking now most probably are the CON-sultants, they want their downline to think that the authority should be blame, instead of them. I'd say, sue this f**king CON-sultants. They are detrimental to our society

This is my understanding of the whole Genneva concept. It is the trick. The words promised by those consultants are different than what has written in the contract. Genneva attempts to trick client by continue to provide hibah 2-3% per month even after 3 month (according to contract), Genneva has the right to cease giving the hibah but they continue to do so, to attract public to buy into such scheme. The written contract is their escape clause. And also there are alot of confusion among Genneva, as they claim there is no buyback gurantee and yet the contract stated there is buyback within 3 months. So, what is what now?

According to the below quote, you buy gold at premium at 20-30%. Genneva will provide hibah to you for 3 months at 2-3% per month, thats only 9% return (max). 20%-9% = 11% (you still lose 11%). if you dont sell your gold within this 3 months, your contract expires. Even if you sell, you sell your gold bar at lose based on market price. The client already lose here. But the thing is, they didnt stop at that 3 months. The continue to pay 3% every months to clients and words spread from mouth to mouth, that Genneva is a good investment. This is only the beginning because the real big money starts flowing in.

When people get into investing in Genneva, it automatically creates a ponzi scheme, because Genneva cannot sustain for the 3% hibah. What I mean here, are those early batch investors holding Genneva bars for years and still collecting 3% hibah. Where does all the money come from? When alot of ppl buy and hold Genneva goldbars for that 3% hibah, Genneva has no way other than taking other investor's money and give it away as hibah and some even claim they didnt get the goldbar yet. As usual for Ponzi scheme to survive, they needed more bottom people to support upper pyramid. Hence, this Genneva is a ponzi scheme with ticking timebomb.

Conclusion: Arrest Genneva directors.

RM 3 bil does not mean its equivalent weight in gold. One investor can keep rolling the gold that he has rite. Keep buying after each contract ends for the Same physical gold.

That is the thing, they starts playing with words now. They start mixing up, "trading", "hibah", "investing" and other combination for their escape. Plus, the gold trading is not regulated hence, i believe Bank Negara is out of their jurisdiction.

Ramadas Das
See i'm so frustrated. being a consultant and a customer, i recommended three customers and daily they are coming and questioning me about the progress and in every single hours. all this while they were so happy but now they are looking down at me as though i have cheated them. i feel so reluctant to go to work as they are my working colleagues. feel like resigning and running away far into a deep forest. Why???? everything is gone. my good friendship has spoiled. please help us BNM. i'm disabled and two kids to be taken cared. i can't even do my job happily.

Depends whether the turnover is monthly, annual, or cumulative since its Samudera/1st raid days few years back... :-)

Why now less genneva supporters on this thread? Seem like the vultures descended here... waiting for carrion after bnm finish them.

Haih.....delusional, hope no suicide.

Why is the original thread locked ???

LYN standard - 2,500 posts per thread

Interesting to see Ministers and Senators getting into the act, I wonder these Ministers and Senators understand how the scheme works or are simply shooting for brownie points. Look at them 'investors' running to every corner pleading their case.

http://www.nanyang.com/node/483597?tid=908


Will BNM be forced to release Genneva? If so, what's next? Genneva is considered a legal scheme?

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Added on October 11, 2012, 9:43 pmSince 4 companies were raided, why only Genneva's CONsultants make noise? Where are the rest?

This post has been edited by lunchtime: Oct 11 2012, 09:43 PM