Debbie, I've posted AA's comments earlier on 47 (top of page). Rayma aka Lulu must have deleted it on GMS.

Most likely they may have plans to give birth to a new company and all these hardcore CONs have some share/interest in it on condition they pull in all existing customers and new victims oops...investors......oops purchasers.

 

interesting, now GMS page full of lawyers advises.. some say if they too rush to go file a police report (like what NTV7 Donald Lim suggested) they will be consider intervene and drag the case very long until 5-6 years only will settle, haha! it was suggested for the people to wait for BNM to file a court case towards Genneva then only they file a police report. so once again! the responsibility and next move has been all on BNM and up to BNM.

Pandai la these ppl... shall i suggest this is a new scheme, not ponzi, but it also included after-(get-caught)-service, the post-ponzi crisis management.

I am confused. How do they expect to settle amicably with BNM? Ponzi scheme is fraud, no? And fraud is criminal case, no? But I'm no lawyer, so I may be wrong. 

The people who puts money in Genneva are indeed between the rock and the deep blue ocean as prophetjul puts it..

How can they settled on something that has absolutely no claims? The supporters are hell-bent that's nothing wrong. If nothing wrong, then they won't get a single sen back later because BNM will not have any rights to prosecute.

This show is indeed getting more intriguing..

I think I'm running out of popcorn.. 

AND in that time the price of gold

2013    1800 to 2200
2014    2100 to 2800
2015    2500 to 6300
2016    3300 to 4000
2017    2500 to 3500
2018    2000 to 2500
2019    1400 to 1800 

 

Who cares about the directors?  its those SUCKers who paid and still waiting for their gold
AND those who paid and kept their gold at Genneva.............

Are u sure they retired liao? Hard core scammers like Ng P.W. & co plus servile lackeys like Pat Lulu and Aunty Lim will never retire. They always live to scam another day. Why?? Because easy money, free lunch and too damn lucrative. Futhermore there's a sucker born every minute. 

Who wouldn't want to lunch in exotic Japanese restaurants, watch wads of cash falling from the sky and change their Samsung smartphones like they change their panties everyday.. 

Lawyer would advise them to hire them to fight at court, in the end, even if BNM able to release back the frozen assets to the victims, the LAWYER already taken half of it ! THINK carefully, if they report to BNM, they might get MORE.

you sure boh? i asked a lawyer to draft out a defamation letter also needs 2k min. havent gone through the court, which can easily 100k spent.
correct me if i wrong here.

But you need a Chief Imagination Officer to imagine that.

i went for the lagarde lecture. normal police presence considering its a foreign dignitary. no genneva crowds, so i was rather disappointed lol. lagarde is a very good speaker

(Just saw this posting below from GG, Dunno how far it is true. If theres truth in it, then the conspiracy and sabotage that's hatched among the directors themselves is quite shocking!)....the plot thickens.
___________________________________________________________
Before Genneva got raided, Genneva was offering 3% hibah plus iPad3. This was planned by Genneva's Philip Lim, to attract the attention of BNM, so that Genneva will be raided and assets frozen. Genneva's senior management knew Philip Lim was the instigator. Philip Lim is actually conspiring with TGG to bring down Genneva.

之前Genneva一直促销每个月3%回酬+还增送顾客 iPad 3（购买黄金还有那么丰富的回酬），这些丰富的促销是Genneva的老板Philip Lim 故意引BNM来冻结Genneva，现在Philip Lim 与股东闹意见。Genneva 的几位股东也知道Philip Lim 是内鬼，Philip Lim 是TGG 的间谍，故意搞垮Genneva ！

http://www.facebook.com/photo.php?fbid=117...&type=1&theater

Dear Terry,

The post was posted by me.

I had also posted it in my facebook page.

Got this info from someone inside Genneva, who messaged me in my facebook.

http://www.facebook.com/Genneva.Gold.Haters

Before Genneva got raided, Genneva was offering 3% hibah plus iPad3. This was planned by Genneva's Philip Lim, to attract the attention of BNM, so that Genneva will be raided and assets frozen. Genneva's senior management knew Philip Lim was the instigator. Philip Lim is actually conspiring with TGG to bring down Genneva.

之前Genneva一直促销每个月3%回酬+还增送顾客 iPad 3（购买黄金还有那么丰富的回酬），这些丰富的促销是Genneva的老板Philip Lim 故意引BNM来冻结Genneva，现在Philip Lim 与股东闹意见。Genneva 的几位股东也知道Philip Lim 是内鬼，Philip Lim 是TGG 的间谍，故意搞垮Genneva ！

got to know this genneva back in early 2010 when i was interviewing a programmer that wrote some gold trading system.
immediately when he mentioned about a guaranteed 2% i know deep down its just another scam but surprisingly it lasted for so long before bnm took action.

many msian may not have heard of another ponzi that happen in nilai around 2004/2005 - this probably due to the fact most of the victims are angmoh. but the scheme was big as the victims totaled around > 50,000 (mostly from US, UK, AU, PH)

points from the case:
1. investigation took a few months before the arrest happen and charge in court.
2. during his arrest - many worshippers was pooling money for his legal fees. Few smart one even spun off another scheme to these desperate believers.
3. the mastermind and his wife was charge and jailed for money laundering and illegal deposit.
4. they were released early around 2010. Now back in UK hiding and enjoying their fruits of labor (money that was never recovered)
5. the money that managed to be frozen was not given back to victims even till now - probably due to the complexity of the scheme
6. up till now still many habouring hope of getting their money back, believe its a govt conspiracy to stop the scheme and waiting for their messiah to return.
Background of the ppl behind the scheme
http://cigars.bravepages.com/pipsrpt.html

There's even a book written about it
http://books.google.com.ph/books/about/Jus...koC&redir_esc=y

Breaking into msia high society via fashion
http://thestar.com.my/news/story.asp?file=...5272&sec=nation
http://thestar.com.my/lifestyle/story.asp?...76&sec=features

Party ended
http://thestar.com.my/news/story.asp?file=...2060&sec=courts
http://thestar.com.my/news/story.asp?file=...2131&sec=courts
http://www.sitnews.us/0906news/090206/090206_charged.html

http://www.nst.com.my/opinion/letters-to-t...-a-hub-1.171304

here is a "letter to the editor" section in NST. with Pat Lu's touching opening sprinkled and posted on GMS page, everyone is semangat again

GOLD TRADING: Wasting golden chance to make nation a hub
I AM pleased with Syed Azauddin's well thought out and well expressed letter, "Prompt action may have made many the wiser" (NST, Oct 31).

Syed Azauddin rightly argued that what Bank Negara did regarding Genneva Malaysia's customers, though laudable, fails to justify that the raid on the gold trading company was in the interest of customers.

After reading about what had appeared, I feel the raid was unnecessary as there is a number of ways the bank could have acted.

It was also pointed out that it had plenty of time to check with the company whether its business complied with the law and advise it.

Now, the raid has made thousands of customers worried.

The raid has not only caused hardship to thousands of people who have benefited from the company, but will be a damper if Malaysia ever wants to make the country a regional gold hub.

Is there something magical gold traders know that banks, financial institutions and the authorities may not know?

This is especially since thousands invested their savings in gold wafers and hibah to sweeten their buys.

Syed Azauddin was right to mention that banks are reaping billions of ringgit in profits every year but not a single sen goes into the pockets of customers, except shareholders.

I would think, in this case, Genneva thought it right and proper that whatever it could generate from the sale of gold should be channelled back to agents and customers as a form of return for their support of the company.

Clients have been more than satisfied with the company as it has honoured its word.

The question is, why penalise the company for its business plan that has benefited thousands?

It may well be the future direction of gold trading.

damn its growing bigger ... namely 1PonziMalaysia syndicate.

Those who have not had the benefit of higher education are often aware of their own weaknesses and are therefore willing to admit they might be wrong and seek out advice from others.

I would say in this case, over-confidence in their own judgement is a contributing factor to why they remain so blinded. They think they are smarter than everyone else who have to make do with a mere 3% p.a. interest so they believe that our opinion is not worth listening to.

Ah well, we're not the ones in a financial quandary right now.

and yet until now, asking them how they more terror than Warren Buffet to guarantee 24% return PA & recently 36% PA with 1 free ipad3. no one able to say anything yet, other than blue ocean.
if its blue ocean, then i guess those are really fat whales.

i'm in. if u manage to get Pat Lu in this, I'll be pretty glad having her to handle the noisy crying victims after the scheme collapse.