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