Talking about stability, I notice that most of those on GMS are not so stable. Top of the list is of course the Admin, complete Lulu. Even people like Dee Casey, Sani and Wahab often flew off their rockers. And just look at Andrew Ng, Horace, Michael Wong and Hyun Woo - absolute NUTS. And Lucus Tan and A. Arokiasamy were so demented that they were finally banned. Shereen talks about love, peace and compassion and the next minute bashes BNM like crazy. Talk about mental stability among GMS ppl, hah!!

This post has been edited by Akonn: Dec 12 2012, 01:49 PM

I too have given up on them. Anyways to me Genneva is DEAD. There's just no way the Government can allow them to continue operations cos it would be an open sanction and endorsement of a ponzi scheme. If BNM were to do then anyone from Pak Man Telo to Bestino and Gold Label will cry foul. I do hope however that BNM can recover as much assets transferred or stashed away by the directors, claw-back from all the consultants and return them to the victims and investors.

This post has been edited by Akonn: Dec 12 2012, 07:41 PM

Always knew that Gold Beam is a criminal front set up by the same scammers to legitimized their fraudulent acts. All these people want is to squeezed members dry. Well it's the CONsultants thats being squeezed. Serves them right. Karma is a b****, aint it? Even now the CONS are still receiving reminder letters from GOLD-BEAM to pay up their annual membership fees ! WTF?? As someone on GMS posted:


James Wan: In fact we are very disappointed that GOLD BEAM has been totally silent since 01-10-2012 and even at this time is asking members to pay up the just expired membership fees within 7 days from the date of the letter, failing which it will deemed that you have ceased being a member, isn't it a bit heartless to sent out this kind of threatening letter at this point of time and we will watch whether they will carry out this threat! We thought our Association had our welfare at heart, now we know better as the Association never utter a word or offer any form of help or support to its members thus far. We look forward to getting the umbrella for the over the last 2 months. We shall wait & see the true colours of the Association in due course. Actions speak louder than words!

( Now you know whether these dickheads really have your welfare at heart or not. And here you guys acting like absolute fools can still support them on GMS.....sheesh!! )

BREAKING: (The Malaysian Insider)

Nine investors sue Genneva for return of over RM2m

KUALA LUMPUR, Dec 20 ― Nine investors are suing Genneva Malaysia Sdn Bhd and four of its directors to get back over RM2 million in investments, claiming that the gold trading firm had carried out fraud and misrepresented the scheme as compliant with Syariah law.

“We don’t know if Bank Negara will press charges against Genneva. That’s not our concern now.

“As far as investors are concerned, we want our money back,” Mohamad Siddiq Azani, the lawyer representing the investors, told reporters after filing the civil suit at the High Court here.

Mohamad said the nine investors ― who include housewives, professionals and businessmen ― want to secure their position as creditors.

The highest investment made among the nine is over RM670,000 while the smallest individual sum lost is over RM40,000.

The nine are among an estimated 60,000 nationwide who lost their money after the company’s gold bullions and accounts were frozen by Bank Negara Malaysia (BNM) in October under suspicion of violating several financial and banking laws including illegal deposit taking, money laundering and tax evasion.

BNM previously said its investigation showed Genneva’s debt was over 10 times the amount of its assets despite having sold the precious metal at up to 25 per cent higher than the market rate, signalling that the venture was unsustainable in the long run.

The central bank also said early checks showed that the company had relied heavily on cash from new customers to keep it afloat, which appeared to confirm suspicions that the firm had violated various banking and financial laws, including taking deposits without giving gold in return, misrepresenting itself as an investment firm, and giving false descriptions on its business after several people lodged complaints with the police.

It also said the records showed Genneva Malaysia has not paid out more than RM80 million to customers who had traded in their gold to the company for the guaranteed cash payments.

Genneva has some 60,000 customers and a monthly turnover of RM2 billion, according to its traders interviewed by The Malaysian Insider in October, but the company’s website states 50,000 customers and a turnover of RM3 billion.

In a statement of claim filed today, the nine investors also sought for a court order to get Bank Negara or other related parties to release the over RM2 million back to them.

According to Mohamad, they will serve a notice of action to Bank Negara to make it a party to the suit.

But he clarified that they are not seeking to make the bank a defendant.

The four Genneva directors named as defendants are Tengku Muhaini Sultan Ahmad Shah, Philip Lim Jit Meng, Ahmad Khairuddin Ilias and Tan Lian Keng.

Genneva Malaysia’s bank accounts and other assets worth RM99.8 million in cash and 126kg in gold bullion were seized and locked up as evidence by Bank Negara since October 1, following suspicion that the company allegedly breached a laundry list of banking and financial laws such as illegal deposit-taking, money laundering, tax evasion and appointing agents without licence, after several people lodged complaints with the police.

Deputy Finance Minister Datuk Donald Lim had earlier this month said the affected gold traders need to file for a court order if they want to reclaim money from accounts suspected of being used in illegal investment schemes as Bank Negara has no legal authority to return investors’ money from accounts it had frozen.

Bank Negara had made a similar statement, saying: “Such monies and gold are required for the investigations and will only be dealt with at the direction of the courts.”

This post has been edited by Akonn: Dec 20 2012, 01:57 PM

BNM investigation unit are almost untouchables, practically immune to any legal lawsuit. Why? Because provisions under both BAFIA and AMLATFA gives vast powers to raid, search and confiscate assets of people suspected of wrongdoings under the Act. They can actually apply to the court (under AMLATFA) for the assets to be forfeited by the Government. As I mentioned before no one from Pak Man Telo to Swisscash to Gold Label, Bestino etc etc has ever sued BNM and won any case. The law gave them such vast powers to effectively carry out their duties. But as one is aware, sometimes vast powers can be abused.

Action III: Institute Judicial Review against BNM (according to D Casey)

Yes, bring it on please and don't NATO again. By judicial review only can the investors and the world know whether Genneva is a legitimate or a fraudulent ponzi scam. Obviously the judge will want to know whether BNM had grounds to raid a suspected ponzi scheme before a ruling. Therefore the Directors and Management would definitely be dragged into this which they are very, very afraid of. Notice that their tactic is to remain silent, lay very, very low and maintain an absolute low profile. They are so afraid of any court action against them, the company an even against Bank Negara. That's why Lulu has been instructed to prevent any court action at all cost even against BNM. Why? Its obvious, they cannot prove their so-called blue ocean biz is NOT a ponzi scam in court. So bring it on Dee Crazy, the world is waiting eagerly.

LET THE COURTS DECIDE WHETHER GM IS LEGITIMATE OR NOT!!

This post has been edited by Akonn: Dec 23 2012, 06:18 AM

Pat Lulu has been paid to run the GMS page just to protect, defend and watch after the Directors' dicks. Shameless!!

Not doing a good job...still get sued.


This post has been edited by Akonn: Dec 24 2012, 09:17 AM

After much urging from friends and relatives, my investor friend decided to make a report against GMSB this morning. I followed her to the IPK to make that report. After signing the report at the counter, she was surprised that the police immediately led her to the commercial crimes division to meet with the IO in charge to make a statement. The statement made was quite detail with supporting documents needed. What we were told was quite an eye-opener. Apparently Bukit Aman takes this Genneva investigation very seriously and I saw a memo stamped 'MUSTAHAK' directly from Bukit Aman which instructs all commercial crime divisions throughout the country to ask about 5-6 additional questions all pertaining to HUKUM SYARAK and hibah. They really wanted to know whether the investor (Muslim) had been misled into investing in GM gold because of the hukum syarak element and whether the investor had been influenced into thinking that it was a religiously sound scheme. Kantoi, Genneva should have never pretended to hoodwink investors into thinking it was Syariah compliant when it was NOT.

Anyway my friend felt relief after making that statement which will be ROA to BNM. Nine investors have sued GM to secure their rights as the first line of secured creditors. If investors do not want to take any action like making a report, they may end up with nothing. DO THE RIGHT THING NOW!!!

This post has been edited by Akonn: Dec 24 2012, 07:22 PM

Non Muslims will just have to answer that they are not conversant with 'hukum syarak'. Anyway, I think the authorities have a very strong case from the hukum syarak/hibah perspective. Since it is not syariah compliant, it is clearly a fraudulent scheme to entice Muslims to invest by window dressing some religious elements there.

Hopefully we will have a satisfactory conclusion to this Genneva madness in 2013.

MERRY CHRISTMAS AND A HAPPY NEW YEAR (2013) TO ALL.

This post has been edited by Akonn: Dec 24 2012, 09:03 PM

These people only show their fake bravado on facebook but dare not make any reports. Do they know that making such reports against Zeti, Mazlan, BNM is totally futile and could only backfire on them. Instead they could be arrested and charge for making a false police/MACC report just to maliciously spite and put a government official in trouble, obstructing a government official from carrying out his duty and of course, defamation. What proof do they have, it's all heresay, wild accusations and slander. At this juncture Bukit Aman is seriously working with BNM to nail the perpetrators of this massive ponzi scam where so many seniors lost their life savings because they know the inside story of this horrendous scandal.

This post has been edited by Akonn: Dec 25 2012, 01:17 PM

They have turned turtle long ago. I dare chief instigators like Lulu and Dee Casey to make the police report, scanned it and post it on fb immediately (ie if they are reading this). Or else don't incite others and lead them like sheeps to the slaughter. We demand leadership by example NOT cowardice and headless chicken revolutions.

Breaking News:

All Malaysian local banks, Maybank, CIMB, RHB, Hong Leong are facing serious liquidity problems due to massive withdrawal of billions of ringgit by Gennevarians who later transferred all these funds to foreign banks. In a joint statement the banks announced that all of them will ceased operations with immediate effect and will declare insolvency soon. Apparently Gennevarian General Pat Lu had ordered the ACTION I charge to all Gennevarians. These attacks on local banks were in retaliation to Bank Negara's perceived high handed action in confiscating their gold and money. Now all bankers shudder and shiver at the very mention of General Lu's name. The world awaits as General Pat Lu is anticipated to launch follow-up ACTION II and ACTION III attacks anytime soon, this time directly at Bank Negara.

This post has been edited by Akonn: Dec 25 2012, 07:55 PM

Yes, the only setback is lawsuits can be long, arduous and expensive.

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Added on December 26, 2012, 2:11 amI don't think he's a clinical psychologist. He works in a Pharma company.

This post has been edited by Akonn: Dec 26 2012, 02:11 AM

If the allegations are true, then GM directors do not have to go far to stash away all the ill-gotten cash from investors' money. They can just transfer all of it to HSBC, from one money launderer to another. How convenient!

No wonder Lulu promoted of this hare-brain idea of transferring money to foreign banks.

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Added on December 27, 2012, 8:03 amNow, they are really getting panicky. Churning articles after articles as if it will make any difference - new article by Savanna Sim, 'Stand Your Ground'. Now calling Bank Negara - BARA(H). Guys, wake up, name-calling won't get you back your gold or money.

http://on.fb.me/VizfVH or http://bit.ly/10jtYkh

This post has been edited by Akonn: Dec 27 2012, 08:03 AM

Indeed, many investors have 'wise up' to the scamming, cheating, conning, duping, brainwashing, hoodwinking by these devious characters and are taking legal action or reporting to the police/BNM. Lawyer’s demand notices are arriving at the offices of the company. BNM is now interviewing investors, consultants, staff and officers of GM, etc in their investigation process. Even Princess Chairman is not spared.

I suspect Savanna Sim is a pseudo name used by someone in the Management to churn out these articles to PREVENT litigation and legal action against GM at all costs. Don't be fooled by these devious calls and GMS brainwashing propoganda. DO the right thing to protect your wealth and to seek justice.

This post has been edited by Akonn: Dec 27 2012, 08:54 AM

From the Bestino Leaders/Organisers:

PELABUR-PELABUR BESTINO.JOM TURUN RAMAI2 DI KEDIAMAN PENGARAH BESTINO CHONG YUK MING UNTUK MENDESAK MENYERAHKAN DOKUMEN PROOF OF FUND KEPADA KERAJAAN.30-12-2012 (AHAD) JAM 10.30 PAGI DI TAMAN PERTAMA IPOH. MEETING POINT:- TAVEETHIN KUDAARAM...

At least Bestino investors have the sense and intelligence to storm the directors of the company for the 'proof of fund' document. As for Genneva investors, don't know what to say lah...barking, complaining and whining 24 hours daily on GMS, brainwashed by a Lulu and expecting a miracle. IN YOUR DREAMS, MAN!!

This post has been edited by Akonn: Dec 27 2012, 08:07 PM

LIAR, LIAR PANTS ON FIRE!! ( Bermuda pants filled with wads of cash)

Yes Lulu, do pray hard that Jesus will hasten the authorities to nab all the ponzi scammers and their agents/instigators and haul all of them to court.

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Added on December 28, 2012, 11:06 amMy other thought:

WHAT!! The chief imagination officer lost all her imagination after Genneva???

This post has been edited by Akonn: Dec 28 2012, 01:18 PM

If I'm not mistaken it's Nicholas Chan.

Just read that TGG has moved into Genneva's office in Melawati and will be opening in early Jan. GMSB is dying .... it's offices, one by one is slowly but surely closing down.

This post has been edited by Akonn: Dec 28 2012, 07:49 PM

Lulu is paying a hefty amount to have the page sponsored, most probably the Directors are paying her to do it. Notice the GMS advert on the top right hand corner of every fb account. Yes, the steady and constant increment is highly suspicious. Cheating (again) doesn't make the numbers legitimate. Just like paying a prostitute to have sex without love. One can have 30,000 or even 100,000 'likes' BUT it's absolutely meaningless.

Everything can be bought with money.

This post has been edited by Akonn: Dec 29 2012, 10:12 AM