1. I am truly disappointed today when i discover that my family members involved in such activities and in a big wave "investing" in such scheme.
2. I have a big argument with my family members telling them to back off with such activities and the negative response that i get was really pissed me off.
3. It really torn your relationship when anything dealing with dollar and cents, this include your life partner. I really hate that when such a thing can really bring disaster to one family wealth but the authority or regulatory does not seen to do a good job to prevent such a thing from happening.
4. Only when it burst up, one will start to appreciate your advise.
5. This company Genneva Gold S/B selling Gold bar as claim by marking 25% up of the spot gold price and giving 2% each month to "investor" thereafter, introducer or upline get some commission as well. That 2% per month would interpret 24% yield in a year, far more better than Bank pathetic interest rate. Sound too good to be true right ? Furthermore, this company could has been wrongly perceived as being licensed or authorised by BNM. That is the people perception now and it happened to my family members as well. Surprisingly, people are not learned from past experienced, they will only start realised when this thing get belly up. Sad to said that, my family members being brainwashed at the moment, no word or advice will convince them. I have done my best ever to explain, now i could only wish them good luck. :(
6. I wonder why people are not buying gold through a legitimate way from Banks or any channel that back gold with birth certificate. ?
7. Is BNM looking into this seriously ? Taking this unscrupulous illegitimate "Gold Sellers" to court and charge them for AMLA or BAFIA act.?
8. One will feel satisfy through a real investment like stock market rather than gambling hard earned money through Ponzi Scheme......
13 comments:
horse
You can advice your family member to invest on you instead of such Geneva gold 'ponzi scheme'. After all, the scheme just promise '24%' pa return. Just show your track record to them, why don't they put on trust on you to manage their hard earn money through proper and legally share investing, instead of believing such unknown scheme.
I think the moment such scheme growth to too big to ignore, only then our SC/regulator will take action, resulting another 'new case' in daily newspaper showing people fall into yet another ponzi scheme bla bla...
hng,
It is too late now, they just being poisoned. They mortgage house just for that. :( Just hope that the regulator can do something quick on this.
I just distributed the stock investment fund back to all "investors". The return is 131%. I told them i have no time guarding the fund starting next year as i am very much tight down with work commitment.
horse
Your family refinance horse for these 'investment' in gold?! That is very serious problem......
I think you should try your best to at least advice them not to reinvest its 2% pmth return or opt to cash out little by little before these ponzi scheme burst due to lack of follower.
This also serve as early warning to your family member whether or not the scheme allow them to cash out its 2% pmth return and opt not to reinvest, if the answer is not merely due to scheme strategy to compounding return and just show off paper profit, then it mean something wasn't right in the scheme already. Then, at least by then you have concrete reason to advice your family member further that the scheme is not reliable.
I doubt gold bar given to investor is genuine.My cousin invested in this type of scheme 4-5 years ago and company already closed down. If gold is genuine,company will be happy to buy back at investor purchase's cost.
Bought UOA at 1.35-1.36
Bought more UOA at 1.35
Genneva Gold already got raided by BNM, about 3 months ago, now under court case. Look at BNM webpage details. All related asset has been frozen.
The director is the same as Gold Label Sdn Bhd. which is also raided by BNM recently.
Now the same director open another one called Samudra GV, which deal in gold bullion with 2% interest.
Different name, same scam. Still got people dare to play?
All,
Thanks for all the input.
I have tried hard to explain but they challenge me back by giving guarantee assurance offer to me. I gave up !!!
Wish them luck anyway.
Hi Hng
My name is Teng. I like your share trading skill and knowledge( I also have high respect for horse ). Do you have your own blog that I can visit?Now I go to Horse's blog to follow your share trading activities
Horse,
Don't worry one day they will realize you are rite.
Horse,
Don't worry one day they will realize you are rite.
HI all. This is just a misunderstanding. Saya dah lama trade gold dan terbukti ia bukan scam. boleh layari web ni kalo xcaya: http://www.lombongvgmc.com sume bukti ada dinyatakan di situ.
HI all. This is just a misunderstanding. Saya dah lama trade gold dan terbukti ia bukan scam. boleh layari web ni kalo xcaya: http://www.lombongvgmc.com sume bukti ada dinyatakan di situ.
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