lol. if that makes u feel better, keep it going. kesian balance sheet also dont know 

WOW?? THIS TOPIC STILL ALIVE !

I wondering is that MSIA dumping gold and cause GOLD market falling?? LOL!

let's have a picture ...



Good Luck Investor ! Glad that you still have 2% per month , otherwise you have to hug the gold for another 20years !

Opps ! Genneva is still in "jail" right? hehehehe

http://www.facebook.com/GennevaMalaysiaSup...287294641388434
The consultants can't stop fooling their customers and the public...

In short, those who have been called by BNM for interview, they have got back their gold bars...consutants, thai royal families....

Terry, don't u think all these seems so strange? I understand from some postings (not confirmed) that the Thai Royalty had invested heavily into GM, had not gotten their gold and was about to sue GM. And what about those consultants who were interviewed by BNM? Was there some sort of plea bargaining going on. Info in exchange for the gold. Remember that AA's statement yesterday that the info he got after 1 week of interview with the consultants lead them to believe assets were transferred abroad. So the consultants interviewed must have spilled the beans perhaps in exchange for the gold. Frankly I think its pure speculation and rumor mongering.

I am glad to note that the discussions have now gravitated from pure bashing to intellectual discourse after a warning from the mod.

In fact, BNM can get a few "freshly" joined investors to interview to check how the CONsultants telling them. Look at Senior Consultant LYN thread, she is hiring highly qualified person to be her "teammates", they are all trained to say the same thing, answering the same, doing the same, just like a clone.

But the real victims are the new investors. They joined because of HIBAH. Look at the interviews of people... They only talk about HEEBAH... their monthly income to survive.

But the senior CONsultant will denied, heebah is just a gift, can be there and can be not there...

But even no heebah for 1 month, you see alot of people crying for help.
Very obvious, they have covered up the truth!

Can we say it is illegal when investigations are not completed? As far as I understand these companies are operating under a 'grey' area [no or few regulations] thus it is a situation where 'buyer beware' or 'high risk investment'. If the customers continue to state they are customers rather than investors then BNM maybe has no jurisdiction. I guess one way to decide would be if the customers take legal counsel and file legal action against the appropriate party....BNM if the legal advisor considers that BNM overstepped its legal boundaries or Genneva if there is evidence of breaching any current laws.

Anyone remember Richard Chew who wrote about the flaw of Genneva business model on Genneva Support Page (but deleted soon after)? He just made a nice written comment in my blog,

http://1-million-dollar-blog.com/genneva-g.../#comment-10039

I paste it here.

The rather uneasy aspects in Richard Chew's reasoning is that the directors may very well sabotage the whole BNM investigation because it would be in their favour to do so. Imagine having to honour RM4 -RM10billion in liabilities. I strongly suspect they will just start a fresh new business with money laundered from the current investments of customers. Excerpt below:
"On the flip side, I believe there is little incentive for directors to resume business . Why? Because to them it would be better to start a fresh new business on a clean sleigh. Resuming Genneva means the directors are to honour their obligations committed. Meaning they have to shoulder the ‘liabilities’ of 50,000 customers which estimated amount to over RM4billion. This is no small amount; will the directors put their hands to bear these liabilities to keep every customers happy?

It becomes clearer to me that it works against the Directors favour to resume Genneva because of the liabilities accounted for."

The de facto CEO/BoD  of Genneva, Pat Lulu speaks (finally).....instigating & inciting as usual with the 'numbers' game' ... (sigh!!!)

Hi Colin and all,

As requested, here are my thoughts...

Fully aware patience is wearing thin and everyone is under pressure as the days go by. We consultants no commission for two months, we are also customers and our customers with gold no hibah for two months by the end of November, and the worst hit are those whose life-savings are in the gold seized by BNM, no hibah and no other source of income.

Now that BNM Governor Tan Sri Zeti has spoken (in spite of what DFM Awang Adek said soon after - you know how politicians are, no action talk only), lets give Tan Sri Zeti the due respect and time to resolve this.

It is my fervent prayer to see this resolved by Friday 9 November as two major public holidays are round the corner -- Deepavali (Hindu New Year) falls on Tues 13 November and Awal Muharram (Islamic New Year) falls on Thurs 15 November. It will be the worst new year celebrations for Genneva Family members from both communities. In my opinion, the government must be crazy if they don't return the gold and unfreeze Genneva's account before these major celebrations.

Say we don't get the good news by Friday 9 November; I recommend we be still and do nothing the following week too, respect our Hindu and Muslim brothers and sisters holy week and join them in prayer for a blessed new year. Effectively, we are giving BNM and the government two more weeks to resolve this matter. By then, it would be one and half months.

Meantime, from now till Friday 9 November, I recommend that our Steering Committee put their heads together to plan the next course of action for implementation on Monday 19 November onwards. I believe they are on this mailing list, so do share your ideas now what we should do from Monday 19 November onwards.

In addition, here's what you do:
There are supposed to be 6,000 of us and only 280 are on this list. Get all your consultants under supervision and your senior consultants nationwide to join this mailing list for private discussion online here so every consultant is updated and in tune same time for next course of action.
-- Text them: "For Genneva consultants only - JOIN Genneva Family at http://groups.yahoo.com/group/GennevaFamily/ or http://yhoo.it/Ry9Dmh - give your name, tel and consultant code."
-- Alternatively, go to http://groups.yahoo.com/group/GennevaFamily/subs_invite and type in their email addresses.

Social media is extremely powerful. Please get the message to ALL consultants, customers, family members and friends to "Like" http://www.facebook.com/GennevaMalaysiaSupporters
-- If you have a facebook (create one if you don't have one), post the link at your FB wall and get them to "Like" the page too.
-- Click "LIKE" and SHARE articles at your FB wall everyday. We also have to educate the general public to support our cause. Who knows, when Genneva is back in operation, your FB friends could be your prospects!
-- Comment, write your personal stories how this unjust BNM raid is affecting you and loved ones. Get your children to write too. You bet BNM and all politicians are watching this page like a hawk.
-- Go create your posters using vanilla cardboard similar to what GV Kuching, Melaka and Batu Pahat had done and post at the GMS facebook. Show the authorities you are prepared and ready to demonstrate in front of PM or BNM building when required -- this is simply to add PRESSURE. Going to the street is the last resort.
-- Go read, like, share and copy paste GMS Notes at https://www.facebook.com/GennevaMalaysiaSupporters/notes to email and forward to your friends too.
-- Also help to answer questions and put people in their place at the GMS FB.
-- You must comment and ADD PRESSURE, not just the same people all the time. Get your costomers to comment too. It's all a numbers game.
On another note, you know the colourful Genneva history, the founders and management of Genneva Sdn Bhd never left the customers in a lurch back in 2009 unlike other gold companies raided back then. That is where I draw my confidence and faith in our management. So hang in there and have faith. Go PRESSURE and whack BNM and the government (for being so slow) instead -- they are the culprits holding our gold and froze Genneva bank account. We were all doing fine till Fatwa Council, PPIM and BNM came out with their public caution advisory in the media, remember? Now BNM is spinning all sorts of crap in the media to justify their raid -- stupid excuses such as liabilities more than assets and sustainability on the pretext of "protecting" the public.

So please lah, STOP whacking our management at the GMS facebook or anywhere else and stop asking management to "show face", can or not? Be rest assured they are working day and night to resolve this asap. We senior consultants have heard them first hand and trust them to do the right thing. It would be foolish for the management to reveal publicly whom they have seen or done since BNM unjust raid when there are so many enemies out there including banks, unit trust companies, conventional gold traders and copy-cat TTG, etc who want to see Genneva dead.

Some consultants also flip flop -- one minute whack BNM, next minute whack management and sometimes, whack both BNM and management in the same comment.

Stay focused and don't confuse the customers and the public lurking at the GMS FB Page. Demand BNM to return our gold and unfreeze Genneva's bank account.

Any more ideas, please share.

Lastly but not the least, let us all pray together for this nightmare to end by this week.

Much love and God bless,

Pat Lu

I've asked some of my father's friends who are investors. They say there are no paper gold issued, at least not in Malaysia. What happens is that Genneva issues 'Certificate of Ownership' that accompanies the gold that just states the serial number of the gold and certifies that one is the owner. This is useless when it comes to selling back to a third party. Genneva refuses to issue the original assayer's certificate for International Hallmark Gold bars, and they dont have any for theirs.

Not true...buyers get to keep their gold and receive hibah. They have the option to sell back gold at the end of maturity period. Except in the last few months before the raid, there was a long delay in payments and delivery of gold, hence the complaints to BNM.

anyway... matter of time for gold drop to below us1500 again...

i think trading between usd1350 - usd1600 from 2013 to 2015 is likely to happen.

And the biggest winner on this incident maybe Pakatan Rakyat. Bcos now one of the chanting lines famous within the investors and consultants are "vote wisely" and "tukar kerajaan" , and so far PR not even wanna get involve I supposed

Terry, what if suddenly Bank Negara announces that Genneva is legitimate, directors cleared of any wrongdoing and GM is allowed to resume operations?

But Genneva supporter got BERSIH tag and some Genneva supporter openly PR supporter. So I don't think there's any vote changes from BN to PR since mostly Genneva are PR supporter 

24% annual return? go in and be consultant, learn their blue ocean business model and strategy. sell to Warren Buffet.

I thought lim kong sang is staunch supporter:-

Actually I'm quite surprised BNM able to raid 100kg of gold and a 100mil cash in bank from the 4 companies. I'm actually thought it will be much less than that 

I really dislike the way of BNM updates public. The more I read, the more questions I have.

"....from all the companies ..... approximately 142.7 kilogram....",
What is the problem of saying out the accurate data instead of giving "lebih kurang" type answers?
People can interpret that 140kg is from one company, and 2.7kg are from the remaining companies......
".....International accounting firms have also been appointed ...."

Why can't tell us which accounting firm?

Again, it is classified! or They are worry that accurate report can be easily cathced.

I take such report is a low quality and low confident outcome.

Our public is too kind, really too kind, happily accept such disppointed work from government agency.