( Something Pat Lulu and GMS are totally against - court action against their beloved Genneva )

BREAKING: UMNO LAWYERS TO TAKE CIVIL ACTION AGAINST GENNEVA MALAYSIA SDN BHD ON BEHALF OF 8,000 GOLD INVESTORS

December 04, 2012 21:51 PM

Free Legal Aid For 8,000 Gold Investors To Claim Back Money Invested

KUALA LUMPUR, Dec 4 (Bernama) -- The Umno Youth community complaints bureau will provide 10 lawyers for the 8,000 people who participated in a gold investment scheme through Genneva Malaysia to get back their investment from the company through civil action.

Bureau chairman Datuk Khairun Aseh said the legal aid would be provided free and urged the investors concerned to come forward with details of their investment.

He said the 8,000 investors were divided into two groups - one group who had paid money to the company but had not received their gold while the other group comprised those who had handed over gold to the company but had not received payment.

"We will make claims to the company and not to Bank Negara Malaysia (BNM). This is a civil action so that the investors will get back their money invested as soon as possible," he told reporters after one hour of meeting with officers from the BNM Special Investigation Unit, here, Tuesday.

On his meeting with BNM, Khairun said he learnt that the investigations were going on smoothly and denied that there was VIP interference in the investigations.

-- BERNAMA

I think Genneva will just declare bankrupt to avoid paying out the 8,000 claims. Remember its more than 8,000 customers of the company who have paid for gold have yet to receive their gold amounting to more than 4,000 kilograms. In addition, there are customers who have surrendered their gold to the company but have yet to receive their cash reimbursement that amount to more than RM80 million. (Genneva have to settle 4,000 kg of gold and RM80 million in cash). Padan muka Lulu & Co. who pandai-pandai lobby Khairun Aseh from UMNO Youth.

Now, when Genneva and directors get sued, there's NO ONE to blame except they themselves - Lulu & Co.

This post has been edited by Akonn: Dec 5 2012, 12:24 AM

The way he writes - definitely an AH BENG.......

A bad D grade movie which sometimes turns into a HORROR one. Everybody's worst nightmare.

This post has been edited by Akonn: Dec 5 2012, 12:31 AM

Ha ha, they are mentioning about Lulu's Prayer Request Wall and GMS earlier call for divine intervention for BNM to release the frozen assets and that BNM be struck down by lightning or death laser for 'robbing peoples' gold and money'. Don't these people realise that God is a good God and not a power to promote and perpetuate a ponzi scheme and cause so much pain and anguish to 60,000 investors?? I think Lulu should just stick to her Feng Shui master.

The Christmas gold — Bob Teoh
December 05, 2012

DEC 5 — Christmas is here again, but for many who have bought heavily into a controversial gold trading scheme, it’s probably going to be a tough one. This is because not only has Bank Negara considered the scheme unsustainable but it has also confiscated the gold.

The Bull Run on gold prices has been going on for over an unprecedented decade and is predicted to shoot past US$2,000 (RM6,000) an ounce next year before the bears return. The frenzy is understandable if we consider that the price of one ounce of gold in 1968 was only US$35!

Already 60,000 people are reported to have bought an estimated RM10 billion worth of gold from Genneva Malaysia Sdn Bhd. This works out to be an average of RM150, 000 each.

That’s a lot of money; it’s equivalent to 400,000 low cost flats at RM25, 000 each! Or enough to buy 25,000 upmarket condominiums costing RM400, 000 each. But their money’s stuck now as the central bank has raided Genneva’s offices and confiscated its gold and cash. I know the anguish of the gold buyers is real and unbearable for I have close friends whose money are now stuck and they are hurting.

But Christmas is a time for joy and peace of mind. It’s meant to be that way and always has been. So this Christmas, whatever our anxiety, there’s hope.

But where do we begin to look for hope?

It is commendable that those affected are not waiting for someone to solve their problems. They have started their own support group at facebook.com/GennevaMalaysiaSupporters.

“We are the Supporters of Genneva Malaysia Sdn Bhd, the world’s most innovative gold trader who cares for the people from all communities and from all walks of life. This is where 1 Malaysia is. Genneva Family walks the talk.”

Not only that, they have even started a dedicated Genneva Family Prayer Request Wall:

Call to Genneva family and supporters to fast and pray together nationwide for Divine intervention. We firmly believe in the power of prayer and especially in the power of community prayers with one heart and spirit. Let’s walk by faith, not by sight together as One Genneva Family.

Pray unceasingly. We recommend everyone to join our Muslim brothers and sisters in prayer when we hear the call to pray five times a day.

Even as I write this, this line in a worship song composed by Pastor Ng Wah Lok comes to mind: “Every time I pray I move the hand of God/My prayer does the things/My hands cannot do.”

Prayer is transcendental ― it brings us to a reality greater than our present crisis, something bigger than us.

It is no coincidence that gold featured prominently in the first Christmas story. According to the Gospel of Matthew, “On coming to the house, they (the wise men) saw the child (Jesus) with his mother Mary, and they bowed down and worshiped Him. Then they opened their treasures and presented Him with gifts of gold and of incense and of myrrh.” (Mt 2:11 English Standard Version).

Does baby Jesus need their gold? Surely not! But later, Jesus had much to say about gold, money, and wealth more than anything else.

At the first Christmas, it was also an occasion when great fear turned to great joy.

“And in the same region there were shepherds out in the field, keeping watch over their flock by night. And an angel of the Lord appeared to them, and the glory of the Lord shone around them, and they were filled with great fear. And the angel said to them, “Fear not, for behold, I bring you good news of great joy that will be for all the people.” (Luke 2:8-10).

The shepherds were filled with great fear because they were confronted with something they had never experienced before. But the blessed assurance was that great joy would henceforth be made available not only to them but to all.

This Christmas, my prayer and hope for you is that, whatever your tribulations, however great your fear, may you also experience great joy. — mysinchew.com

* This article was first published by My Sinchew

MERRY CHRISTMAS EVERYONE ....Ho Ho Ho

This post has been edited by Akonn: Dec 5 2012, 10:51 AM

I think it's a good idea. Why not members on LYN here take it up as a challenge. We have all the materials but still need to do more research, interviews and see from which angle and perspective to focus on. The movie/documentary can be something like the 'Inside Job' financial meltdown.

In fact this is the biggest ponzi scam in the history of Malaysia - involving an unimaginable RM10 billion. This is bigger than many ponzi scams even in the US although it still cannot beat Madoff.

---

Added on December 5, 2012, 3:37 pmA very good reasoning by Adi Azhar Majid on why legal action should be taken against Genneva and NOT Bank Negara.

Adi:
Why SHOULDN'T you claim from Genneva? They're the custodians of your gold, not BNM. If BNM has misappropriated the funds/gold, it is for Genneva to go after BNM. BNM is not responsible to you. Genneva is.

If you lost your job because your employer got wound up by a third party, you seek redress from your employer, not the third party, regardless of how unfairly you think your employer was treated by the third party.

I hope you realise that the Management of Genneva is USING our sentiment to escape liability from us! Yes, we MUST stand united. Against Genneva! BNM is a robber? Perhaps. But that's for Genneva to take to arms.

As far as we are concerned, GENNEVA was the custodian of our gold! When you first declared that you're not investors, you have already waived your right to go against BNM because you do not own an iota of share in Genneva.

Genneva doesn't have our gold? All taken by BNM? SHOULDN'T BE OUR PROBLEM! Genneva has to make good. How? Not our problem.

That, ladies and gentlemen, IS THE LAW

This post has been edited by Akonn: Dec 5 2012, 03:56 PM

NOT futile. The directors and management has hundreds of millions of investors' money and assets transferred and stashed overseas. Many may not be in monetary form. Others may be in the names of spouses, family members or proxies. We must think out of the box instead of confining ourselves to just the seized assets frozen by BNM. Hence the hiring of international audit firms by BNM to trace all these ill gotten assets stashed overseas. With the international dimension the investigation will take a much, much longer time.

Retarded Lulu hopping mad that people have awaken to the SCAM and don't support management any more. So what the fcuk if they are still around. Will that get back investors gold and money?? We dont want to be just 'around'. We want solid answers in facts and figures WHY liabilities is 10 times greater than assets and why only 126 kg of gold was with Genneva the day it got raided. financial statements etc. Lay it all bare and completely transparent for all to see.

And Lulu, FYI, we are NOT in the same f*cking boat with management, get it??

---

Added on December 5, 2012, 11:09 pmSome people never pass the shock, denial and delusionary stage in the cycle of grief. Lulu is not helping. Instead she is pulling and dragging them down into that bottomless pit. In psychology we have a term for that endless grief - psychosis or insanity.

This post has been edited by Akonn: Dec 5 2012, 11:32 PM

This is just to divert attention after management came out with a most idiotic letter saying that BNM exaggerated figures. Many supporters were pushing for directors to call for press conference to refute BNM with facts and figures. This they cannot do. Hence the two articles to cover up their lies and to pacify the sheep.

This post has been edited by Akonn: Dec 6 2012, 08:41 AM

Honestly, sometimes I feel that people like Savana Sim, Dee Casey, harebrained Lulu and the rest are just trying to show off that they have a 'high level command of English' in their articles than anything else. Why use words like violation, bizarre, ludicrous, stupid, creative, genius, etc. All I know is Genneva got raided because BNM suspected that they were carrying out a massive ponzi scam, confiscated and froze their assets and are now under investigation, period. Why all the twist and turns and play of words??

If these retards think their English is so good, go write a book.

This post has been edited by Akonn: Dec 6 2012, 12:16 PM

Keyboard Bank Run - Use monopoly money and let it run around the keyboard.

Ha ha, below is a comment on the GM's statement yesterday,

<<"All we get from the management were " may not be correct" and " may be exaggerated" for such huge discrepancies ??">>

WTF??? 4,000 kg VS 126 kg of gold is NOT something which 'MAY not be correct' or 'MAY be exaggerated'. It is or it isn't, period!!

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Added on December 6, 2012, 5:46 pmSaw a post by one Darveender Singh that said someone committed suicide because of the Genneva debacle. As usual, absolutely no evidence to back this rumour. If it's true then GM company and the CONsultant should take full responsibility for the suicide as they scammed him of his life savings. Hope these perpetrators can sleep well at night.

This post has been edited by Akonn: Dec 6 2012, 05:47 PM

Location can be traced from her IP. She posted comments from London.

Don't quite know but this was what I read on one of the postings. You probably need an external tracing software to do this. Any computer experts here?


This post has been edited by Akonn: Dec 6 2012, 08:09 PM

Thank you for promoting this LYN site Staedtler Papermate Faber-Castell. Hopefully it will turn out more popular than GMS. At least here we tell the truth, no holds barred and we do NOT, I repeat we do NOT delete postings or blocked others like some tyrannical North Korean Dictator. BTW Staedtler Papermate Faber-Castell, you sound very much like Pat Lu or Raynman. Hmm.....

Dare to show your real face and identity??

This post has been edited by Akonn: Dec 7 2012, 06:56 AM

AMLATFA in Bahasa is Akta Pencegahan Pengubahan Wang Haram dan Pencegahan Pembiayaan Keganasan 2001. So I suppose Money Laundering is Pengubahan Wang Haram and Anti-Terrorism Financing is Pencegahan Pembiayaan Keganasan.

This post has been edited by Akonn: Dec 7 2012, 07:09 AM

BNM has vast powers of entry, search and seizure. under both BAFIA and AMLATFA if an investigating officer has any reason to believe, that any person has committed an offence under one or both Acts. BNM is almost immune to any form of legal action against them for the entry, search and seizure that they did on Oct 1. That's why calls by GMS people to sue BNM is quite stupid and rather ridiculous. Their Lulu, Dee Casey, Savana etc keeps writing rubbish but they are NOT aware of the law.

If BNM can be so easily sued, then everyone from Pak Man Telo to Gold Label to Swisscash or Bestino would have sued them in the past. None of them did. Why? Because they can never win the case as BNM had been given vast powers under these Acts.

This post has been edited by Akonn: Dec 7 2012, 01:45 PM

"Never failed to meet their obligations" was never the core issue. All ponzi scammers never failed to meet their obligations initially, from Charles Ponzi to Bernie Madoff. Heck, our Pak Man Telo too never failed to meet his obligations to all his clients until such a time when they cannot sustained the payment of returns.

So the issue here was NEVER the meeting of obligations by mgmt but 'SUSTAINABILITY' of the scheme itself. After BNM listed Genneva on the Consumer Alert List there was a run on Genneva as many wanted to sell back their gold, thus creating serious cash-flow problem. They relied heavily on new investments and went on an all out sales promotion campaign to recruit new victims with a cleverly designed iPad3 promotion and new attractive rates. So they were NOT on the 'edge of success' but rather on a 'verge of total collapse' when BNM raided their premises.

I also suspected that there was a dearth shortage of gold judging from BNM's statement that GM owed 8000 investors, 4,000kg of gold vs the 126kg confiscated.

This post has been edited by Akonn: Dec 7 2012, 11:59 PM

I don't think Najib is even bothered as he is more interested in winning big this coming General Elections. He considers all thsse GM people a pest and an irritant. They can keep on churning thesis after thesis of rubbish and it won't change a single thing.

This post has been edited by Akonn: Dec 9 2012, 09:40 PM

Actually I do agree with all that you say about this Lulu moron. I don't think Admin really know how much pain and suffering she has inflicted on her victims who happens to be her family, relatives and friends by cheating and scamming them into parting with their hard earned money and buying useless overpriced gold. Totally shameless woman who do not deserve to breathe the same air as humans breathe.

Brought so much shame and tarnished the good name of Assunta Convent. Also brought so much pain and distraught to Sister Enda to see an ex-Assuntarian involved deeply in the greatest PONZI SCAM the country has ever known and slandering Tan Sri Zeti (also an ex-Assuntarian) and BNM. Shame on you Lulu.

This post has been edited by Akonn: Dec 12 2012, 06:53 AM

Terry, yes in that sense you may be right. She saw that Rayma was a failing concern and organising seminars were too tedious and profits were little. When Genneva came, it was easy money and free lunches. The money was flowing like wine but were all from new investors funds. So being a Chief Imagination Officer, she probably just dropped Rayma and went all out for the free lunches.

Just a passing observation. There appears to be quite a number of Christians involved in the Genneva scheme be it Catholics or Protestants. The admin of GMS claims to be a Catholic and many others call upon God for salvation of their gold/cash while a number quote the Bible in their postings.

However many have change their motto to "In Gold We Trust".

This post has been edited by Akonn: Dec 12 2012, 11:47 AM