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 Genneva Malaysia V4, Raided on 1st October 2012

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StockInvestor
post Jan 14 2013, 02:27 PM

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QUOTE(arubin @ Jan 14 2013, 12:15 PM)
Haha, I dunno about that. There are /k topics with longer histories.

But I do think that Genneva should go into the record books as the first ponzi scheme in history where the victims remain so dedicated and loyal to the people who scammed them. Malaysia Boleh! thumbup.gif
*
Not all the victims remain dedicated to the people who scammed them. It is a fallacy.

There are merely attack dogs deployed by the Administrator at GMS Facebook who cow and ban detractors to save their own skins, and the very people they work for - Genneva Management and Directors.

Bottom line - you either toe the line of what we are paid to say and save the Directors, or you will be villified, banned and figuratively castrated.

To hell with ideas and solutions out of the box - the admin seems hell-bent to place the Directors well-being above all else.

Pernicious? Most definitively. I just pity those who seek tangible solutions and are left bereft.

A train wreck waiting to happen...
StockInvestor
post Jan 14 2013, 02:51 PM

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QUOTE(arubin @ Jan 14 2013, 02:35 PM)
Haha, I also know not all lar. Just those jokers who hang out in GMS. People like Pat Lu, Shereen, Horace, etc. I am going to leave out Dee Casey because we dunno if this person is real or not. There is no proof that he is, and you cannot ask or you will be kick-banned because they dun like people asking for proof.
*
I would include "Dee Casey" in that lump of defending the Directors to death, much to the detriment of the poor customers.

She had the audacity to ask the Committee if they had sought "consent of the GMSB Management of Directors" prior to meeting up BNM.

Dee asks for transparency from the Committee, and yet claims that its OK for the Directors to remain silent. Utter hypocrisy and rubbish.

Shows clearly which side of her bread is being buttered.

The Committee is supposedly working for the customers - not GMSB. Unless, they too, have been bought over by the directors - which in all circumstance is a distinct possibility too.
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post Jan 14 2013, 04:41 PM

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QUOTE(arubin @ Jan 14 2013, 03:36 PM)
Yes, but I am questioning if there really exists bread to be buttered on after all. Dee claims to be a consultant as well as customer of Genneva, and that he/she has made a police report. However, we have no proof of it. That FB account is relatively new and has only a handful of 'friends', all of whom are related to Genneva. It might be that Dee is merely the alter-ego of a Genneva Director, or someone who is personally working for them.

Which is why I question the sanity and rationale behind the idiots who would take up Dee's advice on anything at all.
*
Perhaps my maxim was a tad cryptic - "which side her bread is buttered" means that Dee is in cahoots with the directors as opposed to the customers. Synonymously, it twins with your astute suspicions that Dee is either an alter-ego of a Genneva director, or someone personally working for them.

As for claims that she is a customer/consultant, I am uncertain whether it is truthful, or just another Machiavellian technique to get the baying crowd on her side.

But her credibility is already diminished by being anonymous, being excessively on the side of the directors (instead of the customers) and pro-actively discouraging customers from seeking additional information on their own.

On the sanity of the "idiots" who take up Dee's advice, let's just say that these very people appear totally reliant on anybody, even faceless perpetrators to assist. Somehow, there is a reluctance of these "idiots" to seek alternative avenues like getting Legal Aid.

Secondly, some have succumbed to peer pressure, where the attack dogs come in to cajole & berate them to death.

They are grasping at straws, unrealising that a JR is non-conclusive, time exhaustive and will not in any definitive way, shape or form return their gold and money. Unbeknownst to them, the JR actually helps GMSB's cause in delaying matters.

Yes, they are helpless and conniving folks like Dee have worked overtime to save the directors asses by taking advantage of their ignorance and pleas for assistance.




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post Feb 1 2013, 02:07 PM

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QUOTE(terry8 @ Feb 1 2013, 08:33 AM)
And Dee Casey is GMS greatest legal mind in their opinion - I have never met such a gullible bunch of people. Maybe the desire for money can be so strong that it can dull the mind
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Unbeknownst to the flock of sheep in the GMS FB, Dee Casey is one of the Genneva Malaysia S/B's lawyers.

He/she takes advise from the Directors and the MO is to stall, deceive, deter any police reports against Genneva Malaysia, keep them "united" and focus the entire wrath solely on Bank Negara.

With the syariah case now Bank Negara cannot release Genneva Malaysia.

Dee's IP address should be recorded in the event of possible future law suits against her/him regarding misleading statements and constant forcefulness of the sheep making police reports against their free will.

StockInvestor
post Feb 5 2013, 01:34 PM

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QUOTE(arubin @ Feb 5 2013, 12:36 PM)
If there's any further proof needed to show that Dee is just talking out of his arse, it would be his latest argument with Cricket, who raised some very valid questions.
Since Dee refrained from answering, I'll take a stab at them.

1. If the JR is successful (yeah, right), the gold and money goes straight back to Genneva. There's no reason for it to go directly back to the customers. After all, your JR is filed on the basis of Genneva having done no wrong and not the customers being innocent victims. This is something that is explicitly stated on your police report template - you believe Genneva has done no wrong. If the judge concurs *cough*, than Genneva gets everything back.

READ before you file your report next time.

Edit:
2. Actually, no. If Genneva is charged with committing a crime, than BNM doesn't have the right to disburse anything. It will be done by a court-appointed trustee.

3. Nope. See 2.
Forfeited? No, BNM and the govt has no right to do that. Victims will be entitled to file for a claim on whatever assets are left (however little that might be). So yes, there IS a half way house...err, half is overstating it though. Based on the figures released so far, I think you have a pondok somewhere off the beaten track...
*
Well deciphered, Arubin.

The best way for the customers to retrieve their money/gold is to make a police report against GMSB and to file a 3rd party claim.

Dee Casey works for the Directors and is possibly getting a commission from the lawyers who will be filing the JR. More numbers filing for JR=more $. A futile exercise in filing the JR. The lawyers and Dee make the dosh, and GMSB is conveniently detracted from any claims.

I find it terribly odd that the customers don't see through this conniving act by Dee Casey and do the smart thing by employing their own lawyers and making police reports against GMSB.

Bestino customers did it and are on the right track to retrieve whatever they can salvage.


StockInvestor
post Feb 7 2013, 01:01 PM

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Denial Of Fraud and Cognitive Dissonance - by Mark Koltko Rivera
(Researcher, Scholar in Psychology)

A Ponzi scheme involves a financial scam in which early investors in a fake investment fund are promised—and often achieve, at first—immense returns on their investments. In reality, the fund’s returns are provided, not by the fund’s actual investment results, but by later investor’s contributions to the fund. (This is also called a pyramid scheme, because the lucky few at the early enrolled top of the pyramid of investors are paid by the many later investors ‘below’ them in the pyramid.) Such schemes can collapse when unforeseen circumstances either cause a shortage of new investors, or investors start pulling their money from the fund, as happened when the financial meltdown of 2008 tripped up the Madoff scam, the largest Ponzi scheme yet revealed. Ponzi schemes are named after Charles Ponzi (pictured, in a 1910 mugshot), whose version of the scheme was the first to become known throughout the United States.



The New York Times of Friday, March 12, 2010 ran an article by Floyd Norris, who points out that some financial scheme victims refuse to believe that they have been scammed, even after government authorities have revealed the scheme in all its sordid detail. As Mr. Norris relates, when the U.S. government tried to compensate the victims of the original Ponzi scheme, it ran into a problem with some of the victims:



To get the money, the victims had to turn over the notes [i.e., financial certificates] they had received from Ponzi. But many of them refused to do so when the cash was offered in 1931.



Those who refused, wrote Donald Dunn …, were “holding onto the belief that Ponzi somehow would yet make good on his promise of 50 percent interest.” …



That was probably not the first, and certainly not the last, example of what might be called “buyer’s denial.” It is the belief that somehow a fraud was not what it seemed to be, and that there was still a way to avoid losing the money the victim had foolishly invested.



In our day, as Mr. Norris points out, a similar drama is being played out with the victims of another scam. As he describes it, CMKM Diamonds illegally issued bilions of shares of stock that were, in reality, backed up by less than $500 dollars in real assets. Since this stock scam (not a Ponzi scheme) was revealed, a group of victims has banded together to sue for about $4 trillion. However, they are suing officials, not of CMKM, but of the U.S. government, alleging that government agents manipulated CMKM as part of a sting operation that left honest corporate officials and their investors twisting in the wind.



The reactions of these CMKM investors and some of the original Ponzi investors are examples, not just of denial, but of cognitive dissonance. Widely known to students of social psychology, cognitive dissonance is a phenomenon in which people are observed to undertake various mental gyrations to reconcile dissonant, ultimately unreconcilable thoughts. For example, a well-to-do person might think that she or he is a good, generous person, and yet refuses to donate money or food to a begging person on the street. How to reconcile the cognitive dissonance? Perceive the beggar as evil, lazy, or otherwise unworthy of help.



The scammed investors mentioned in Mr. Norris’ article are faced with a pair of contradictory self-oriented cognitions:

1.“I am a bright, prosperous person who makes good investment decisions.”
2.“I am being told that I’ve been taken in by a scam artist who has robbed me of a ton of money.”



Dissonant cognitions indeed! Apparently, for some victims, the response is denial: “I was not scammed at all!” Then, in the 1930s: “Ponzi will deliver.” Today: “It is all really the government’s fault that CMKM failed.” (Indeed, one of the academic experts interviewed for the Norris article describes these cognitive dynamics in terms very much like those of cognitive dissonance.)



A cognitive dissonance perspective may help civil officials understand resistant, “in denial” victims of scams. Of course, one research question would be, who do some victims exhibit what Norris calls buyer’s denial, and others do not?



Scams like this, on the one hand, are in the domain of microeconomics, investment, finance, and economic forensics. On the other hand, the emergence of cognitive dissonance in the behavior of some scam victims demonstrates a favorite point of mine, discussed in an earlier post: “Everything is Psychology.”


StockInvestor
post Feb 7 2013, 01:04 PM

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Artilcle in NY Times by Floyd Norris 12/3/10 : Dealing With Fraud By Denial : http://dealbook.nytimes.com/2010/03/12/nor...raud-by-denial/
StockInvestor
post Feb 8 2013, 11:04 AM

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QUOTE(arubin @ Feb 7 2013, 05:21 PM)
I just stumbled on another ponzi scheme last year called Zeek Rewards, involving USD600 million.

Apparently, Genneva is not the first ponzi scheme where the victims experience cognitive dissonance. There were still people who supported the company despite all its misdeeds being exposed.

http://www.ibtimes.com/zeekrewards-support...receiver-754040
Oho...where have we read all that before?
*
A darn interesting read. It explains a lot in how these people think.

The truth hurts, I suppose. In not accepting the truth, they assume they can relive their dreams.

They are completely the opposite of the CHGS Growers who appear more savvy.

Btw, there are some pretty enlightnening articles at the Genneva Disgruntled Customers Group in Facebook.

This post has been edited by StockInvestor: Feb 8 2013, 11:10 AM
StockInvestor
post Feb 13 2013, 05:44 PM

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QUOTE(debbierowe @ Feb 13 2013, 04:53 PM)
It's so obvious now JR will never be filed
But can always say they r victims bcos they have not enough police reports to proceed
This can buy them very much time
Any post asking about how many police reports done n how many more needs will be reply by Casey's irrelevant rage n the person got banned.
I think they r waiting to get 60k police reports biggrin.gif
*
Yes, apparently the JR will not be filed. It was a non-starter and a guise to lie to the customers. Give them false hope. Pretend that they will kill BNM. Stall. Deceive. Protect the Directors.

When the JR fails to take off, Dee and the GMS Admin intend to blame the Protem Committee and the consultants for not forcing their customers to make enough police reports.

More news from one of the victims here : http://www.facebook.com/?flyingspaghettimonster=tn_tnmn#!...162867987187986

This post has been edited by StockInvestor: Feb 13 2013, 05:45 PM
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post Feb 15 2013, 03:05 PM

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Looks like all the bravado about filing for JR after CNY has fizzled.

Where have all the smart victims gone to?

Like someone said - most of the logical victims have either left the page or been banned for asking the right Q's. All that remains there are a minimal number of victims who bemusedly enough admit to blindly following a faceless adviser. It's like watching a s-l-o-w train wreck.

Pat Lu (GMS Admin) has reverted to Director fuelled $ to sponsor the page daily to garner the Anti-Barisan crowd and boost the number of likes. A lil like the "paid groupies" the Barisan procure for their ceramahs. Ironic, ain't it? smile.gif

The following website under JR in the GMS page was unceremoniously deleted by Pat Lu : http://www.loyarburok.com/2011/09/09/legal...udicial-review/
An encapusulation from the said site, "In Malaysia, an application for judicial review is often denied due to ouster clauses. Ouster clauses are finality clauses attempt to completely exclude judicial review. Words such as “final and/or shall not be questioned” are often seen in Acts of Parliament to deem the decision made by the Government be conclusive and does not subject to review. Unfortunately, unlike United Kingdom, we are not prepared to ignore absolute ouster clauses".

Other reasons why the JR seems like having minimal chances of succeeding can be garnered from this Bar Council site : http://www.malaysianbar.org.my/administrat..._singapore.html

Amongst many JR impediments from this site are :
1)"it is therefore not surprising to note that to date there is yet a single case in which administrative acts have been impugned by mala fides". Nuff said.

2) It was quoted at the GMS site that the legal fees being bandied is RM200K and they're not even certain of winning. Good money chasing bad? "Most of all, an unsuccessful public interest litigant would be pauperised by costs, a significant strain on financial resources and a deterrence towards undertaking future public interest litigation cases. Further, an unsuccessful public interest litigant who took on public authorities who are protected by the Public Authorities Protection Act 1948 will be required to pay costs taxed on a solicitor-client basis, a serious impediment indeed to any aspiring public interest litigants".

3) Most damning to their JR cause is if GMSB is found to be unsustainable, the AG can step in as a matter of public interest to deter the company from continuin to scam the general public via Relator Action :"The argument is simple, that is, if the rights asserted by the private individuals are public rights, it is the job of Attorney General who is the guardian and protector of public rights to represent public interest. The Attorney General may initiate actions either at his own volition or at the instance of a member of public by way of a relator action".

It is interesting to note that Pat Lu has deleted the JR post after Dee Casey's mention that "up to 100% victim police reports to impress the judge are needed to file the JR". She seems hell-bent in misleading the sheep. Raj Sami's deleted comment then, "If the judge is going to base his judgement on the number of police reports instead of unjust acts, may God Help us all". My reply to Raj Sami would be - may God help you and the other sheep for blindly following a faceless assassin in Dee Casey who is evidently misleading you lot to another very expensive and time consuming mistake.

Someone's gonna take the fall when the number of police reports do not live up to Dee's "up to 100%" expectations. By the past and present posts of their loyal lieutenants, KE,Yeap,Namaste,Maha,P.Young,Catty et al, the consultants and the Protem Comm are set to be scape-goated whilst Dee & Pat Lu continue to stave off (or delete) important Q's on when exactly the JR will be filed.

Keep the few sheep (and the sponsored page anti BN mercenaries) focussed on BN,BNM,Psy,slaps on faces,police reports. But please don't ask us pertinent Q's about the JR, thank you very much.

Dupe. Deceive. Stall. Protect the Directors.

In the meantime, I'm rather enjoying their anti BN posts - being a pro PR laddie myself. That's about all that page is good for these days. Now hand me the kuaci, will ya smile.gif

This post has been edited by StockInvestor: Feb 15 2013, 06:13 PM
StockInvestor
post Feb 19 2013, 01:41 PM

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QUOTE(rzkb @ Feb 16 2013, 03:31 AM)
if that is the mentality of the so called pro-opposition, based on the genneva supporters fb page, then i rather let BN rule for a longer time
*
Rzkb : You have to realise that they are indeed political chamelons. When Dr M and Rosmah graced their events, they and the BN were adulated. When Najib received 2 letters from their consultants, he was idolised.

In fact, till now, Pat Lu (GMS Admin) STILL idolises Dr M despite her anti BN tendencies. Case of cognitive dissonance, perhaps? smile.gif

However, when Najib saw the GMSB records proferred by BNM and all of it pointed to a Ponzi scam, he sent his deputies Awang Adek and Donald Lim to reveal the truth to the general public.

Thereafter, all three Ministers (and BN) were reviled and continue to be admonished by Pat Lu and gang.

After revealing much about the Genneva scam, BN CANNOT and WILL NOT back-track on the truth of the matter - however much Pat Lu and cronies threaten them about lost votes. It would be political suicide for BN if they do so. 60K victims vs millions. Who commands the majority?

And you can bet your bottom ringgit that PR will go to town if Genneva is released since investigations show that it is a Ponzi. In short, BN will not succumb to idle threats. GMSB is dead and buried - legally and in the court of public opinion.

If PR wins, you can also bet on them strictly adhering to the rule of law - more so than BN.

Either way, it is a win-win scenario for the public in that either political side will NEVER allow these scam artists to continue with their cheating ways - especially so when the can of accounting worms have been opened for all and sundry to see.

-------------

Debbie Rowe : UPDATE ON JUDICIAL REVIEW: Appointment is being set up to present bad faith evidence by BNM to our legal counsel this week. The success of JR is soley dependent on YOU. We urge those who have yet to lodge police reports to do so immediately and email: gennevafamily@gmail.com ; more, http://bit.ly/12XTEEk and download police report template at http://bit.ly/Zc50y9

My take on this?
1) Didn't Dee Casey state a month ago that they had already spoken to a "prominent legal firm" and the lead counsel there was in synch with their bad faith evidence?

My Q's :
a) Has the "prominent legal firm" dropped them like a hot potato after bearing in mind that the JR is a lost cause since there is no precedence of authorities being impugned by bad faith in Malaysia?
Also, BNM, CCM, Ministry of Domestic Trade, PDRM adhered strictly to the rule of law when there were complaints lodged about late deliveries (early signs of a Ponzi collapse). Also, the AG stated on the 3rd of October in a joint statement with PDRM & BNM - they had to act to protect future investors in the principle of public interest.

b) Has a new legal firm been engaged? Who are they? Who is "setting the appointment this week"? Are they aligned to GMSB which would be a conflict of interest? And how much do they charge? Are legal fees being arranged to be collected? Or are the Directors/cronies paying the legal fees? Can the victims meet them this weekend at the GBEAM office (after the touted appointment) to discuss the JR filing,legal strategies, costs et al?

c) Why the need for police reports when there are no case precedents of "judges being impressed by the number of reports"?
I also disagree with Pat Lu's imperious statement in her haste for the victims to lodge more police reports - "The success of JR depends solely on YOU". The success depends on how the judge views it based on precedents, rule of law and public interest.

d) In lodging the police reports,will the Doctrine of Estoppel jeopardise the victims claims thereafter?

e) Why has the 31/1/13 police report deadline been extended?

f) Why does Pat Lu need the victims' police reports e-mailed to her? And for what purposes?

g) The police reports the victims have lodged contain this attestment :

"...© GMSB is syariah compliant and as far as I know the company has not been issued with any show-cause letter by the relevant issuing authority as to why that status should not be revoked;
(d) there were correspondences between GMSB and the Bank Negara Malaysia (“BNM”) which provided evidence that BNM was at all times aware of GMSB’s gold trading business and that BNM had, by its acts or omission, given GMSB tacit permission to conduct and carry out its trade as per business model which GMSB has declared to BNM".

Are the victims aware that no show cause letter was sent? Did the victims see the correspondences between GMSB and BNM? Are they in jeopardy of lodging false police reports in the event they did not do so? Were they prompted, coerced, forced,threatened (by abandonment) by Pat Lu and Dee Casey in lodging these police reports?



Initial investigations declared by BNM reveal that there were legal contraventions - illegal deposit taking, money laundering, illegal appointment of agents (consultants), tax evasion, non-submission of audited accounts et al. BNM has already informed the victims to stake a 3rd party claim which will be disbursed at the court's discretion. Make no mistake about it, GMSB and their cheating Directors will be charged. And the AG has up to 1st October this year to do so.

In the meantime, BNM, PwC & EY are given more width to continue the forensic accounting investigations to determine the money trail and the stealing purportedly conducted by the Directors. This takes a lot of time as they have to deal with international authorities.

Back at the ranch, I foresee Pat Lu continuing to stall the victims in the JR filing as they pursue their more important task of getting as many police reports as they can.

According to Awang Adek, there are about 8K victims who didnt receive gold/money. And the numbers who have thus far said "yes" to police reports in their posts are about 100.

So, it looks like Pat Lu and gang are gonna take a long time to dupe the remainder 7900 victims into lodging reports.

Pat Lu mentioned that they are not reaching out to many victims in their GMS page and hence, the need for a "Help Desk", led by the subservient and generally clueless KE. And also generously funded by their cash-rich ally in Gold Beam in duping more to lodge police reports.

In the meantime, stay tuned to Pat Lu cooking up various other creative lies to appease the rest in their long wait to a "JR filing".

But knowing the sheep as they are, there will not be any more protests to wait lest they be labelled trolls,BNM agents,anti Genneva "unity" etc...lol. Pat Lu has schooled them in atypical Dr M autocratic way. smile.gif

I do have some sympathy for the customers who are financially illiterate and old, but I've absolutely no pity for the scum of the earth consultants who are bloody greedy and selfish. Some of whom reportedly told these victims that "hibah will be paid" because it has always been paid "historically" despite hibah being discretionary. And that the buy-back is guaranteed - despite it not being so.







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post Feb 19 2013, 01:41 PM

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QUOTE(rzkb @ Feb 16 2013, 03:31 AM)
if that is the mentality of the so called pro-opposition, based on the genneva supporters fb page, then i rather let BN rule for a longer time
*
Rzkb : You have to realise that they are indeed political chamelons. When Dr M and Rosmah graced their events, they and the BN were adulated. When Najib received 2 letters from their consultants, he was idolised.

In fact, till now, Pat Lu (GMS Admin) STILL idolises Dr M despite her anti BN tendencies. Case of cognitive dissonance, perhaps? smile.gif

However, when Najib saw the GMSB records proferred by BNM and all of it pointed to a Ponzi scam, he sent his deputies Awang Adek and Donald Lim to reveal the truth to the general public.

Thereafter, all three Ministers (and BN) were reviled and continue to be admonished by Pat Lu and gang.

After revealing much about the Genneva scam, BN CANNOT and WILL NOT back-track on the truth of the matter - however much Pat Lu and cronies threaten them about lost votes. It would be political suicide for BN if they do so. 60K victims vs millions. Who commands the majority?

And you can bet your bottom ringgit that PR will go to town if Genneva is released since investigations show that it is a Ponzi. In short, BN will not succumb to idle threats. GMSB is dead and buried - legally and in the court of public opinion.

If PR wins, you can also bet on them strictly adhering to the rule of law - more so than BN.

Either way, it is a win-win scenario for the public in that either political side will NEVER allow these scam artists to continue with their cheating ways - especially so when the can of accounting worms have been opened for all and sundry to see.

-------------

Debbie Rowe : UPDATE ON JUDICIAL REVIEW: Appointment is being set up to present bad faith evidence by BNM to our legal counsel this week. The success of JR is soley dependent on YOU. We urge those who have yet to lodge police reports to do so immediately and email: gennevafamily@gmail.com ; more, http://bit.ly/12XTEEk and download police report template at http://bit.ly/Zc50y9

My take on this?
1) Didn't Dee Casey state a month ago that they had already spoken to a "prominent legal firm" and the lead counsel there was in synch with their bad faith evidence?

My Q's :
a) Has the "prominent legal firm" dropped them like a hot potato after bearing in mind that the JR is a lost cause since there is no precedence of authorities being impugned by bad faith in Malaysia?
Also, BNM, CCM, Ministry of Domestic Trade, PDRM adhered strictly to the rule of law when there were complaints lodged about late deliveries (early signs of a Ponzi collapse). Also, the AG stated on the 3rd of October in a joint statement with PDRM & BNM - they had to act to protect future investors in the principle of public interest.

b) Has a new legal firm been engaged? Who are they? Who is "setting the appointment this week"? Are they aligned to GMSB which would be a conflict of interest? And how much do they charge? Are legal fees being arranged to be collected? Or are the Directors/cronies paying the legal fees? Can the victims meet them this weekend at the GBEAM office (after the touted appointment) to discuss the JR filing,legal strategies, costs et al?

c) Why the need for police reports when there are no case precedents of "judges being impressed by the number of reports"?
I also disagree with Pat Lu's imperious statement in her haste for the victims to lodge more police reports - "The success of JR depends solely on YOU". The success depends on how the judge views it based on precedents, rule of law and public interest.

d) In lodging the police reports,will the Doctrine of Estoppel jeopardise the victims claims thereafter?

e) Why has the 31/1/13 police report deadline been extended?

f) Why does Pat Lu need the victims' police reports e-mailed to her? And for what purposes?

g) The police reports the victims have lodged contain this attestment :

"...© GMSB is syariah compliant and as far as I know the company has not been issued with any show-cause letter by the relevant issuing authority as to why that status should not be revoked;
(d) there were correspondences between GMSB and the Bank Negara Malaysia (“BNM”) which provided evidence that BNM was at all times aware of GMSB’s gold trading business and that BNM had, by its acts or omission, given GMSB tacit permission to conduct and carry out its trade as per business model which GMSB has declared to BNM".

Are the victims aware that no show cause letter was sent? Did the victims see the correspondences between GMSB and BNM? Are they in jeopardy of lodging false police reports in the event they did not do so? Were they prompted, coerced, forced,threatened (by abandonment) by Pat Lu and Dee Casey in lodging these police reports?



Initial investigations declared by BNM reveal that there were legal contraventions - illegal deposit taking, money laundering, illegal appointment of agents (consultants), tax evasion, non-submission of audited accounts et al. BNM has already informed the victims to stake a 3rd party claim which will be disbursed at the court's discretion. Make no mistake about it, GMSB and their cheating Directors will be charged. And the AG has up to 1st October this year to do so.

In the meantime, BNM, PwC & EY are given more width to continue the forensic accounting investigations to determine the money trail and the stealing purportedly conducted by the Directors. This takes a lot of time as they have to deal with international authorities.

Back at the ranch, I foresee Pat Lu continuing to stall the victims in the JR filing as they pursue their more important task of getting as many police reports as they can.

According to Awang Adek, there are about 8K victims who didnt receive gold/money. And the numbers who have thus far said "yes" to police reports in their posts are about 100.

So, it looks like Pat Lu and gang are gonna take a long time to dupe the remainder 7900 victims into lodging reports.

Pat Lu mentioned that they are not reaching out to many victims in their GMS page and hence, the need for a "Help Desk", led by the subservient and generally clueless KE. And also generously funded by their cash-rich ally in Gold Beam in duping more to lodge police reports.

In the meantime, stay tuned to Pat Lu cooking up various other creative lies to appease the rest in their long wait to a "JR filing".

But knowing the sheep as they are, there will not be any more protests to wait lest they be labelled trolls,BNM agents,anti Genneva "unity" etc...lol. Pat Lu has schooled them in atypical Dr M autocratic way. smile.gif

I do have some sympathy for the customers who are financially illiterate and old, but I've absolutely no pity for the scum of the earth consultants who are bloody greedy and selfish. Some of whom reportedly told these victims that "hibah will be paid" because it has always been paid "historically" despite hibah being discretionary. And that the buy-back is guaranteed - despite it not being so.







StockInvestor
post Mar 27 2013, 03:19 PM

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I reckon things are going to come to a crunch in a few months time.

The sheep will realise they were duped by Pat Lu (GMS Admin) and the devious GMSB legal adviser Dee Casey.

Rumours abound that the both of them are well paid by the Directors to stall, dupe and protect GMSB/Directors at all costs.

There are also rumours that Dee Casey is a woman working in cahoots with their other slimy lawyer, Hargopal Singh.

Yes, the same Hargopal Singh pictured in the Nanyang pic replete with requisite turban and looking a little shell-shocked at the embarassment of the Directors in their alleged BNM bribery (and orange togs).

Dee Casey, having engineered the entire legal proceedings (and allegedly making quite a pile from the Directors) is now passing the buck to the Help Desk. Happy ending for Dee whilst KE Goh, Shereen, Catty Chong and JL Fong take the fall. And these attack dogs should be rightly held accountable because they are the faces behind this second scam. Smart move by Dee.

Also, if the rumours are true, Pat Lu ought to be villified for throwing the sheep off the gully in her alleged vast payoff from the Directors. Sheer greed knows no bounds apparently.

And Dee Casey ought to be disbarred if she is a real lawyer for coercing the sheep to lodge false police reports without knowing the real repercussions. IP addy check, Bar Council?

Stay tuned for fireworks in the next coupla months.

That should be about the time the sheep wake up to the nightmare of being duped twice - by GMSB per se and the evil Dee & Pat Lu.

Stave. Stall. Dupe. Protect the Directors.
StockInvestor
post Apr 9 2013, 06:27 PM

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QUOTE(nakedtruth @ Apr 9 2013, 05:50 PM)
i always believe from the day it got busted, there is no way for the them to get back the money...
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They can get back some of their money by suing the panties off the Lokap SPRM directors, consultants, senior consultants.

Rumour from the grapevine has it that the authorities are investigating the consultants for tax evasion, and possible clawbacks from ill-gotten commissions to hand back to the aggrieved victims. BNM has apparently raided the Gold Beam computer for the entire list of consultants.

Also, there have been complaints lodged and Dee Casey is currently being investigated by the Bar Council for deviously duping the sheep into lodging false police reports and misleading them into a futile "JR" effort. The only persons who will be enriched in that devious and dubious legal exercise are Dee Casey & her greedy associates.

Hence, all is quiet on the page (apart from Catty Chong and a few others who have been requisitioned to dupe more into paying Dee more cash in legal fees). Apparently, the last JR update was to get more moolah from the sheep.

Bottom line - cash. Always.
StockInvestor
post Apr 11 2013, 10:21 AM

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QUOTE(nakedtruth @ Apr 10 2013, 08:36 AM)
it was the long and tedious way.. if the person file for bankrupt even worst...
the lawyer cant do much, only to suck more money from the "investor" like this case..
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Whichever method of clawback is implemented, the only certainty is that the road to redemption is long and ardous.

What is despicable is that Pat Lu (GMS Admin) and Dee Casey have consistently lied that the "JR" is the fastest and best way for the sheep to get back their money.

Stave.Stall.Dupe.Protect the Directors.

I hope Patricia Lu Pitt Chin and Dee Casey can sleep well at night knowing they've greedily cashed in at the sheep's peril.

On the flip-side, karma has a revengeful way of sucker punching these evil, evil sods.
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post Apr 15 2013, 02:02 PM

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OPEN PLEA TO THE AUTHORITIES READING IN :

Please investigate the bank accounts of the following GMSB agents :
1) Pat Lu (alleged RM50 000 monthly commission)
2) Dee Casey (pseudonym used. Chief Spin-Meister)
3) Catty Chong
4) Shereen Lim
5) KE Goh
6) JL Fong
7) Shanti Masilamoney (alleged RM500 000 monthly commission)
8) Kavitha Raj

These consultants are GMSB agents allegedly paid to perpetuate a second scam in protecting the company and the directors. They are also parties in misleading customers into lodging police reports.

Please investigate them. Thank you.

This post has been edited by StockInvestor: Apr 15 2013, 03:18 PM
StockInvestor
post Apr 15 2013, 02:58 PM

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I would also like to bring to your attention that the following exclusion clause was only recently included in the GMS Wordpress site. It wasn't there when the alleged culprits initially coerced the customers into making police reports. This is the recent updated version : http://gms101.wordpress.com/2013/01/07/on-...-police-report/

"Having filled you in on the position of the law with regards to making a police report, it is now important that you read the following notification:-

A. There is no compulsion for you to make any police report if you feel you are not agreeable or not comfortable about it.

B. You do not need to make the report immediately the same day. Schedule it according to your time of convenience. You do not need to take leave from work just because you have to do it on that day.

C. You are aware that you are making the police report out of your own volition and you have only yourself to answer to for what you say in your report.

D. You may choose to make the report either in English or in Bahasa Malaysia.

E. You must be sure that you are able to back up what you say with concrete evidence. If you have nothing to back you up, don’t go make the report."

Many customers lodged police reports without the exclusion clauses above, and thus were uninformed that they might be in jeopardy when the police reports were lodged. The customers were told to follow the exact template and wordings coined by the alleged culprits. At no material time in the GMS Facebook site were the customers informed about these latest exclusion clauses.

Please investigate.

Thank you.

This post has been edited by StockInvestor: Apr 15 2013, 03:01 PM
StockInvestor
post Apr 15 2013, 03:31 PM

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WHY THE NEED FOR POLICE REPORTS : https://www.facebook.com/notes/genneva-mala...330736570377574

"Why the need to lodge police reports?



Answer: A CLASS ACTION has to show the number of affected complainants who have been wronged and wants justice to be served.



The judge is going to be unimpressed by the numbers if the majority does not lodge police reports.



First on his mind is “what happened to the rest of the victims”? Why are the majority not complaining and only these minority are doing that? Inference then is to take the notion that BNM is right and we are wrong.



Do keep in mind that a certain percentage of success in JR is due to perception and this first impression is going to run through the judge’s mind from day one he/she sees the file on the table. Without the majority lodging reports, the judge is not going to sit up and look carefully."




Please investigate the misleading insinuations entailed.

Thank you.


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post Apr 16 2013, 10:37 AM

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Update from a customer who went to the Help Desk :

The JR is off, as we had expected. So much for their promises.

5 of Dee Casey's "prominent lawyers" have rejected representing us and said there's no way we will win against BNM.

Apparently, Dee Casey's associates will be filing a court action against BNM for mala fide. Some 3rd rate ex- DPP lawyers eager for $$$ will be representing us. We expect to lose.

Help Desk is now in the midst of seeking 20 "credible" witnesses from the consultants/customers for the court action. They are stuck at 14 now.

Total $ collected - RM100 000 from 2,000 customers.

They are trying to file before the election to put the "heat on BN".

Daily BNM bashing at the Help Desk using lies allegedly emanating from the Directors. The directors have allegedly given Dee Casey and the Senior Consultants the go ahead for the court action suit after trying the "soft approach" initially - allegedly trying to bribe a BNM officer.
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post Apr 17 2013, 12:34 PM

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QUOTE(JustJobe @ Apr 17 2013, 11:09 AM)
Stock Investor, from the person giving updates from the HelpDesk meetings, has there been a visual confirmation on Dee Casey there yet?
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Hi Just Jobe,

I've to contact my friend who is a Genneva customer and had gone to the Help Desk with regards to your query.

Will inform you as and when I get the information from her.

I was previously told that Dee Casey is a woman who was employed by GMSB to curry favour for the company and the directors at the GMS FB site.

She has obviously done her paymasters proud by lying, duping, stalling, staving, twisting facts, brainwashing the victims and averting all blame from GMSB.

Ironically, much like the BN method of propoganda.

Dee and Patricia Lu Pitt Chin (GMS Admin) have made a lot of empty promises and forcibly made the victims lodge police reports in the guise of them getting back their gold and money. (Their recent additional exclusion clause in the police report was made after they read my piece on it about a month ago).

I was also made to understand that reports have been lodged against Dee Casey for maliciously misleading the sheep and that she is running scared presently. Hence, her silence.

But like I said, karma has a way of getting back at the evil ones.

She will get her just dues for systematically duping the elderly victims and staving all blame from the Lokap SPRM directors.



http://www.nanyang.com.my/node/519017

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