Wednesday, October 3, 2012

GENNEVA GOLD Mother Of All Scams !!!

 
 
1. GENNEVA GOLD truely a mother of all scams that involve whopping of at least RM5billions of hard earn money from "investor". I must say my condolences to them, hope they can get back partial if not full of their so called invesment money. How can a business can sustain without having making any genuine profit from a real 'core business' ? This is another form of pyramid scheme for all you know. :( Pity to all the investors thats include my own relative. :( Imagine an investor so to speak come in will result Genneva to make a loss of 24% per year, as the company need to take another investor in to fund the earlier one. This business repeated and compounding the lossess to the company till a saturated point and all will come down at one point in the near future. It is lucky that BNM step in to raid this company or else more people will be suffered if this kind of business drag on. I hope the authority can charge the owners to court for running a fraudulent gold trading company and fine them heavily.
 
2. FABER - Bought in today at RM1.28. ^^
 
3. IGBREIT - Sold all at RM1.40. This is my 3rd round of profit. ^^
 
4. KASSETS - Congratz to Tay SK and those still holding it.
 
5. Watch List - FABER, IGB, IGBREIT, FABER, HEKTAR
 
6. Good Luck !!

37 comments:

Teng said...

Horse

Genneva boss probably best sales person ever.Today Star reported many Genneva investor or consultant still have full trust in company,and blame authority for raiding the company( which eventually company has to close temporarily)

COngratz on IGBreit

hng said...

horse

Its too late now, many 'investor' already entrap, authority should take action long before it ever start commence such ponzi scheme.

It is really hard for layman to resist such attractive return offer by Genneva with grand office, big sign broad and have many branch portrait them as license authorize to do gold trading.

horse said...

haiz !!!

I win the battle against my relative but i feel sorry for them. :(

The boss of GG deserve a punishment.

horse said...

Greed will turn someone poor. :(

Those people should realise now it is all setup, the culprit is the owners of GG, march to Putrajaya also cant help much.

hng said...

horse

You have try your best already, your relative should take it as lesson. In whatsoever condition, people should not risk their hard earn money especially to borrow or refinance property to invest on these so call unrealistic high return gold investment.

Teng said...

Horse/Hng

I have relatives who invested in Totebonus( same boss as Fusion Excel which also hit top news two months ago). Till today,they still think company is ok,and even top up more investment. They even believe Totebonus has casinos in Macau and Las Vegas( or has license to operate)

horse said...

Really sad. I think they got hit very very very hard. I really sad for them, i can heard it over the phone. :(

horse said...

Can't really help much. Live have to start all new.
Now people emotion are high, all blame the Goverment, they want change i think.

Teng said...

Horse

I think investors may not lose everything. Hopefully government can work out solution for Genneva to refund,at least partly money invested in gold

hng said...

Bought more YTL WR at 22sen, average down holding cost. Hope it won't turn like next OSK property WA :(

Teng said...

Hng

I bought at 23.5cents. Need to go out around 10am,so just grab it

will sell YTLpower WB if price above 46

Teng said...

Hng

Now both YTLPower WB and WR become attractive.If mother can stay above1.65,I think worth to bet on WR at 22 cts

hng said...

horse/Teng

I think many of the victim are Chinese. In the wave of chasing high return, some of them become risk taker, resulting family wealth ruin overnight

hng said...

Teng

Many warrant holder like you thinking to swap it to YTL WR for cheaper entry.

YTL WR may still under selling pressure from those institutional YTL shareholder who opt to cash out their WR due to their strategy to limit exposure in warrant

hng said...

Bought final batch YTL WR at 20.5, further average down holding cost

alwayswin111 said...

What is your opinion on IPo MPHB capital at1.00.

ck5354 said...

Hi, how to convert ytl-wr to ytlpower wb?

Internet form pdf can used?

When should we convert?

Last day of ytl-wr 10 Oct or can convert early?

ck5354 said...

I know how to convert dijacorwr cos already alloted to me.

But if i buy ytlwr the form for entitle ment i have to fill in myself??

ck5354 said...

celaka ,
call dealer dealer say not sure

ck5354 said...

Is it same as this form:

http://announcements.bursamalaysia.com/EDMS/subweb.nsf/all/99C200AFD342338C48257A8B002428E7/$File/YTL-NPO&OAF%20Form%20(94KB).pdf

hng said...

Bought ultra maximum YTL WR at 16sen

hng said...

ck5354

I'm using nominee account, just need to sign simple form from bank only. No sure what form have to use for personal application.

ck5354 said...

aiyo yo all nominee account

I ask many dealer semua tak tahu.

Celaka

ck5354 said...

Kanasai,

Nobody know what form to fill in.

else i have bought at 0.16.

Busy talking to a bunch of idiot.

hng said...

ck5354

What is your entry cost for YTL-WR?

hng said...

YTL WR today very active, volume is more than 12% of total offer....

ck5354 said...

key in 0.16 not yet done

ck5354 said...

call tricor nobody pick up kanasai

ck5354 said...

finally manage to call tricor

http://ck5354.blogspot.com/2012/10/ytlpower-wb-at-038.html

Teng said...

Hng

You must be lucky to get YTLPower-WR at 16 cts. I sit on huge paper loss for YTLPower WR.

hng said...

Teng

Just ensure all YTL WR converted to YTL Power WB, which still have 6year life. Still can hold longer.

YTL-WR down lowest at 16sen, which coincidence with last time WB selldown level at 36sen. Hope this is support level for WR.

Today total volume trade about 12.7% of total offer, but if exclude Yeoh Family stake of about 52% and EPF of 8.3%, total volume trade today represent as much as 32% minority trade

hng said...

Teng

Like what happen last time when YTL corp selldown YTL Power-WB, both YTL Power and WB under pressure, but when YTL corp ease of selling stake, stock rebound strongly; YTL Power from 1.56-1.80 (15% gain); YTL Power WB from 36sen - 60sen (66% gain).

Hopefully historic can repeat itself. With incoming potential catalyst like 1MBD acquire YTL power plant, YTL Power share should be able to hold at current level, which is also almost near to its support level 1.60

Teng said...

Hng

Good analysis.

Tomorrow I am free to do some trading.Will decide if to top up more YTLPower WR. But definately will switch from WB to WR if there is enough discont to do it

KH Tang said...

The ONLY question that I have is that... Why it take so long for the government to take action?

As from the very beginning, since a few years ago I hear about this, it sounds like a ponzi scheme, works like a ponzi scheme...

horse said...

KH Tang,

We do not understand why it take so long for the authority to raid, there could be a motive behind why it was procrastinating. I am not sure and do not want to speculate either.

Sometime, it is better late than never.

Ninja Turtleneck said...

KH Tang,

The company has been under investigation and put under BNM's alert list since 2009 if not mistaken .

I think they took so long to take action is to find surefire proof to charge them in court. I mean if Genneva actually won in court, it will create a precedent case for all future scams,can you imagine the implications?

You see, all ponzi scams were charged under illegal deposit taking (BAFIA offense). However Genneva use a loophole by using the physical gold. So there's no deposit, those are transactions for investors' purchase of gold. Investors actually receive the physical gold.

However you see it, you know it's a pyramid scheme (returns are illogical) but it's hard to prove.

Now it seems BNM has got their figures.Their official statement said the number of assets held by the company is much2 less then 'gold transactions', it seems so similiar to the very first scheme by Ponzi himself.

Deepak Ramji said...

If anyone would like to know about VGMC and the investment plan that they offer you could always email me at deepak@vgmail.com for us to discuss further without any obligation to become a shareholder.

Jika sesiapa ingin tahu mengenai VGMC dan pelan pelaburan yang mereka tawarkan anda boleh emel saya di deepak@vgmail.com supaya saya boleh terangkan dengan lebih teliti pelan VGMC tanpa apa-apa kewajipan untuk menjadi para pemegang saham

THANK YOU…

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