Yes i totally agree with you. Better ask that guy whether he has seen Genneva's balance sheet in the last couple of years. They didnt even submit their accounts. Genneva has many pseudo experts in accounting and economics. But they certainly do have real experts in marketing and spinning.

This post has been edited by terry8: Nov 2 2012, 06:50 PM

do they have an audit company? company worth what? 10billions transactions... should be audit by some big4 what...

How can audit? then the secret formula blue ocean trade secrets would be known to all and sundry !!

The gold kept by the customer is worth of how many % from their investment? 70-80%?

I just read this from GMS FB page. Anybody can verify what was really in the ntv 7 news ?

5.30pm is mandarin news ... 8pm is english news sure will repeat same news just stay tune

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Added on November 2, 2012, 7:38 pmchinapress

財政部副部長阿旺阿迪駁斥金玉華（Genneva）黃金投資公司，將在這一兩天內獲國行解凍的傳聞。

translate : DFM said do not trust the rumors of BNM will de-froze Genneva in 1-2 days time.

the sms news at the top left corner...
http://www.chinapress.com.my

am confuse now...

but i wish they lift the frozen and return "ALL" the gold and money .. let's see if they able to give back hibah and gold to ALL customers or not. inb4 Pat Lu said raided and frozen 1 month their business cannot move hence making a lost.

This post has been edited by debbierowe: Nov 2 2012, 07:38 PM

The likelihood of another rumour is very high

There wasn't anything on the 8.00 pm news so I gather it's a hoax.

This post has been edited by Akonn: Nov 2 2012, 08:33 PM

they are so desperate now that they resort to spreading fake news?

damn these people got some very thick head.

wow... hardcore supporters still havent run out of steam...

The Gen fanboys will start to panic when GOLD price starts falling and they can't sell 'em because of the freeze by BNM..
The sovereign funds are unloading now in the world market...

This post has been edited by danmooncake: Nov 2 2012, 08:49 PM

fuuuu.. shit.... i not sure this got english news or not..

http://www.sinchew.com.my/node/266935?tid=1

副財長：金玉華部分錢財或轉移出國‧近期完成調查不可能
2012-11-02 19:13

（吉隆坡2日訊）財政部副部長拿督阿旺阿迪表示，政府會確保金玉華黃金貿易公司（Genneva（馬））的調查對每個人都公正，因為當中涉及許多人及龐大錢財。

他披露：“他們（國行）也要追蹤一些錢財或已不在這裡（國內），可能已經轉出國外，這也是為何我們要與國際執法單位合作。＂提到金玉華的顧問代理限國行在1週內回复調查結果之事，阿旺阿迪表示此事就交給國行處理。


他個人認為，要在週內完成調查，這是不可能做到的事。

他是今日出席在財政部舉行的“2012年革新日＂推介禮後如此說。

DFM: Genneva transferred part of the money abroad, impossible for early completion of the investigation
2012-11-02 19:13

(Kuala Lumpur, Bernama) - Deputy Finance Minister Datuk Awang Adek said, the Government will ensure that the investigation on Genneva gold trading company gives everyone justice, because it's involving many people and huge sum of money.

He disclosed: "They (BNM) have to track some of the money is not here (domestic), may have been transferred out of the country, which is why we want to cooperate with the international law enforcement." when mentioned BNM investigation findings carried out with Genneva's consultant for a week, Awang Adek said that the matter is handed over to the BNM for processing.

His personal view, in the weeks to complete the investigation, this is an impossible thing.

He gave this interview while attending the "2012 Innovation Day " event held by the Ministry of Finance today.

i c a lot of butthurts with genneva members then genneva sdn bhd itself. hahaha.. anti gennevarians vs pro gennevarians.

the one that is so anti has to sunk their fangs for blood everyday here just to feed their vampire's heart.. poor soul.

This post has been edited by hackwire: Nov 2 2012, 09:30 PM

The vampire hates daylight and truth. Over here we want to shine the light on the lies so you should know better who is the vampire

hello fence sitter. most butthurt as we all know fence has torns.

i only see politics and poor handling of the govt. to allow such co to run for more than few years and only taking action now is purely unacceptable. what will happen if enforcement are so slow to act. there are many things that govt fails to enforce like petaling street bootleg products and imitations. it's always the good cop and bad cop roll. one time they close one eye because of who and who connection and later something bad , things can go down like that.

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Added on November 2, 2012, 9:41 pmaiya, u watch too much TVB lah. i know u like drama a lot ...

This post has been edited by hackwire: Nov 2 2012, 09:41 PM

Supposedly, they have submitted audited reports to BNM on a regular basis. Question is, audit by who? Madoff was also audited regularly. The firm responsible has also been charged and sued for perpetrating the scam.

back to where u start comparing banks with genneva. at least i watch drama but i still know what is balance sheet

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Added on November 2, 2012, 9:48 pmsame la.. like Enron was audited by Arthur Andersen used to be one of the big 5... but after the scandal both RIP together.
but Genneva can name their auditor or not, if its some E&Y, PWC?? lol altho i know impossibru

This post has been edited by debbierowe: Nov 2 2012, 09:48 PM

The question is how does the govt know they're illegal unless they're probed? How do they probe unless someone complains? The GenM scheme is under the radar because they're using the gold trading as loophole because there is absolutely no regulation on this. I'm not defending the authority but I think GenM masterminds have found this gold trading loophole and exploiting it.

Pat lu in facebook is your nemesis? i noticed u following the genneva facaebook and comment here everywhere.. poor soul. if u are not the member, why u so butthurt ? everyday i c u coming in and comment in facebook and here. did they hurt your feeling so much?

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Added on November 2, 2012, 10:05 pmyes i read about it too. so , what happen to the directors now? nobody seem to be handcuffed in the news?

This post has been edited by hackwire: Nov 2 2012, 10:05 PM