A bit late right? Quite some time back, UMNO offered to procure free legal services for those who wanted to sue Genneva and their directors. Only a handful took up the offer. Your friend should have joined in earlier.

For that matter, BNM was asking for everyone involved to step up and file a report too in order to aid in their investigation. I think a lot of victims refused to do so because they were bamboozled by the Genneva Supporters facebook page. I expect many of them are now regretting it.

Anyway, its all stuck in limbo now and no one is getting back anything until the case is closed...which would take I dunno how long but supposedly its going to be expedited...supposedly. Once that is done, your friend can file a claim for his share of what was recovered. Mind you...there really isn't much left. He's definitely not getting back the full sum. He can consider himself lucky to even get back 10%. Yup, this is going to be worse than Madoff...

If his investment is not significant, just give it up and consider it a lesson learnt. If its a lot, I would suggest he get his arse back here and file a report with BNM and than make a police report as well. Bring along any supporting documents related to his dealings with Genneva for their investigation. If he doesn't do this, it might be harder for him to file a claim later for his share of the recovered gold and monies.

There is a union? I don't think so, or at least I haven't heard of one. If there was any 'organized' activity, it was actually in support of Genneva itself but that seems to have died down. In fact, we are all wondering what happened to the prominent Genneva supporters like Pat Lu, Auntie Shereen, etc.

Get your friend to file a case with BNM first and see where he can take it from there.

That's the site we have been talking about if you have been reading this thread since v3. Many of suspect that it was run by people who are directly connected to Genneva themselves and that one of the administrators is the infamous Pat Lu.

For many months after the raid, that page  has been encouraging victims to actually stand behind the Genneva directors instead, and to not cooperate with BNM. They have even tried to do silly nonsense like asking inves...*cough* err...gold buyers...to file police reports NOT against Genneva but directed at Bank Negara instead. Supposedly, the so-called Steering Committee behind GMS will take those reports and use them to apply for a Judicial Review of BNM's raid. They even collected RM50 from those who wanted in on this supposedly to help cover legal expenses.

The JR was never filed for reasons they have refused to fully disclose but one can assume that lawyers told them they were bat-shit crazy and should lay off the bong they were smoking. The money they collected? No refunds. Now the steering committee themselves have vanished into thin air.

I guess its a good thing your friend didn't get in on all that bullshit.

There was a union. The sad thing is that it was formed to protect the sole interests of the Directors, Management and their kin via payment to the Administrators of the Genneva Malaysia Supporters Facebook page.

Customers' well-being are secondary. Victims are forced to uphold their mantra of adulating GMSB and villifying BNM. Hundreds have been banned from the site for stating the obvious - that the directors and mgt are effing parasites.

Calculated stallings, lies and diversions were made to blame BNM instead of the real perpetrators and thieves - the Directors and Management.

All this can be documented from their FB page and in the archives here too.

So, what can your friend do now? The same thing we have been advising for a year :
1) Get a lawyer
2) Sue GMSB, the directors, management
3) Lodge a report with the SC - to see if there can be clawback provisions made to claim from your consultant and senior consultant. Their appointments are reportedly illegal and all their commissions are ill-gotten. Hence, you may have a claim. Also, there are many cases of misrepresentation by the consultants in their attempts to nail a sale. Examples include : GMSB being syariah compliant, that hibah will be paid, that the company is financially stable, sustainable, that the directors do not steal and are of good repute. All these claims by the consultants have been proven to be false.
4) Now that it has been reported that Ng Poh Weng's 3 children and Philip Lim's wife have stolen close to RM1 billion from GMSB, sue the suckers too.
5) Sue the GM Lim Kah Heng and his unemployed friend for reportedly stealing too.

I wish your friend good luck. It will be a long arduous ride and he may not retrieve all that he invested. However, if nothing is ventured, nothing is gained. Thus, get a lawyer first and start getting some good advice instead of being reliant on the crooks at the GMSB Facebook 'union'.

but how much is the lawyer's fee? wonder if he has any money left to hire a lawyer

For free legal advise, visit here :

http://www.malaysianbar.org.my/legal_aid_centres.html

“If you choose to not deal with an issue, then you give up your right of control over the issue and it will select the path of least resistance. Never put off till tomorrow what may be done day after tomorrow just as well.”
- Leonardo Da Vinci