Genneva Singapore Complain Group

[isaac11]

Hi,

Does anyone know how to reach the TS (thread starter)? His PM is full.

Thanks.

 

[kumgongkia]

I' m one of the victim at Genneva too. I think at this juncture, all the victim do not need any further 'analyst' 'critics' etc.... To give negative feedback.. This is what Singaporean best in doing!!

I suppose we want Support n pull together to find a solution and not hearing these unnecessary lecturing!

Let's put it this way, anything you do is risky! Eg : House, just hope your investment will appreciate. Stock n Shares just hope not like lehmen brother when you think is very safe??, Even when you are on holiday, just hope your plane will not crash or not taking off! Anything is risky!!!!

So please, those not victim, have some sympathy!!

my sympathies to those who are not financial savvy and did not get lectured by others b4 sinking in

as for those who did get lectured and still poured money in, nope. take the loss as a lesson

 

[Dividends Wizard]

Sell the gold , invest in REITS !

__________________
Sharing my Dividend Portfolio at :
http://dividendswizard.blogspot.sg/

I get S$1,000+/mth dividends , so can You !

 

[jkbk007]

One of the largest ponzi scheme happened in 2008 in US. US$36billion was invested but only US$18 billion was recovered and the rest went missing. Remove space in link.

www .financialsense .com/financial-sense-newshour/guest-expert/2012/02/02/j-prosserman/chasing-madoff-real-story-behind-largest-ponzi-scheme-in-history

 

[Dividends Warrior]

Epic fraud is epic!

 

[vstranger]

The Ugly Truth

From experience since SunShine Empire, And now Genneva.

It's sad to say that I'm almost certain that none will be able to get back a single penny, just like what happen in SunShine Empire.

Someone's food is someone else poison.

Logic and simple it is, where do you think your money has lost gone to ?
Where to do think the money you' ARE GOING TO make is going to come from ?

ALL THIS DOESN'T EXSIST.

When you are going to do an investment, first make sure HOW DOES THE company create revenue to be able to make money FIRST for the company itself, THEN U.
The company dies, YOUR money DIES.

GENNEVA obviously has no way to create REVENUE in the very first place.

RUNNING out of fund to pay out the LATE-COMERS(LATE - INVESTORS ) are bound to happen.

People invest in the intial stages will make money, but people who come in later as a matter of fact are unfortunate.

All this are just empty companies, they all just have to come up with an amount of Capital, buy gold, melt them and cast them into GENNEVA's label.

Get an IT FREAK to make an Web to host all your account, and draft a BLOODY useless unrecognized CONTRACT.

Where to you think they money they pay their AGENT comes from ?
Bloody 100-200k a month for a bloody agent, from your re-contracting for existing customers?

So, let's say you have successfully sued Genneva and they are liable for claim towards you
who's gonna pay this amount of money to you when there is nothing left ?

This people are professional scammers, doing Fraudulent for a living.
Do you think they are as stupid as it is to keep the money they have cheated over the past 3 years within Singapore ? Answer is NO.

Is the govt gonna pay the money you have been cheated back to you,
Again the answer is NO.

All you can do now, is be wiser on every investment.
Do your homework.
In this Finance Industry, be happy if you're getting more than 7%ROI per ann.
Anything more than that, beware and caution.
There's a very high chance you'll lose everything, be it LEGIT or SCAM.

To my knowledge, there are internal trading in the States, but that's provided you've reach a certain amount of net worth and it's not open to public.
It's protected by SEC and it's against the law to leak any informations out.


At the end of they day, this people are just going to jail for not less than 5 years and not more than 10 years.

You're never getting your money back,
My advice, you do not have to waste any money on LEGAL.

Been there, done that.

It never worked, and it's not going to work.
This people were working under SunShineEmpire- James Phang.

This scams are never going to stop.
So just keep your guards up on such investment plans in future.

 

[Talkcents]

This is becoming a far bigger problem across the Causeway. It's rumoured to have tens of thousands of investors with billions of Ringgit involved. Would advise Genneva Singapore investors to watch the development there closely as a gauge of your chances of getting any of your money back.

Came across the following article on a Malaysian website over the weekend which gives interesting info on this whole saga and the various challenges faced by investors.

I'm unable to post the link but you can google the title of this article "Genneva Gold – Another Collapsing Ponzi Scam?". It's published on the website of financetwitter.

Understand there have been investors and consultants besieging its various offices from West to East Malaysia but the news is absent from media these days.

Those investors holding the gold bars purchased from gold buyback schemes should have them authenticated by a respectable institution and file police reports immediately if they turn out to be less than genuine...

 

[Some-one]

This is becoming a far bigger problem across the Causeway. It's rumoured to have tens of thousands of investors with billions of Ringgit involved. Would advise Genneva Singapore investors to watch the development there closely as a gauge of your chances of getting any of your money back.

Came across the following article on a Malaysian website over the weekend which gives interesting info on this whole saga and the various challenges faced by investors.

I'm unable to post the link but you can google the title of this article "Genneva Gold – Another Collapsing Ponzi Scam?". It's published on the website of financetwitter.

Understand there have been investors and consultants besieging its various offices from West to East Malaysia but the news is absent from media these days.

Those investors holding the gold bars purchased from gold buyback schemes should have them authenticated by a respectable institution and file police reports immediately if they turn out to be less than genuine...

Let me help you post and hope other victims can read it.

Genneva Gold – Another Collapsing Ponzi Scam?

 

[Dividends Wizard]

how to complain if you join a Ponzi ?

__________________
Sharing my Dividend Portfolio at :
http://dividendswizard.blogspot.sg

I get S$1,000+/month in Dividends , so can You !

 

[cscs3]

my sympathies to those who are not financial savvy and did not get lectured by others b4 sinking in

as for those who did get lectured and still poured money in, nope. take the loss as a lesson

Fully agreed.

 

[stargazer008]

how to complain if you join a Ponzi ?

__________________
Sharing my Dividend Portfolio at :Dividends Wizard

I get S$1,000+/month in Dividends , so can You !

Bro...went to your blog but doesnt really understand. I am new to Reits. Care to elaborate a bit? In stocks, the dividends is either quarterly or yearly. But in Reits it is monthly?

Thanks for sharing your expertise.

 

[wooty100]

any updates ?

 

[wooty100]

this one died down ? genevacomplaingroup gotten their $ back ?

 

[makav31i]

Don't think anyone will get back the money until investigation is complete... Some are agents for other gold 'investment' company which already made it to MAS investor alert list and want people to jump to this kind of company from Genneva with the 'rescue package'..Most are new members anyway who just came to post about Genneva and dissappear when shtf... Me just sitting here as onlooker and waiting for all the dust to settle to see what will happen...

 

[mosaic1979]

any updates ?

game over already what update. No money. No nothing. Finito. End of story. Move on with life.

 

[Talkcents]

If a Genneva investor jumps into another ao called 'white knight' gold buyback scheme, he may end up in a standard 'double dip' scam. So it's probably unwise unless he has too much money to burn....

Chances of recovering your investment don't look good as this may become the 'Mother of all Scams' in SIngapore & Malaysia' as some folks have put it. We'll know the true extent when investigations in both countries are completed which may take a a while especially across the Causeway which is becoming far more complex by the day. This issue has certainly not died down yet.

In the meantime, the only way an investor can probably get all or some of his money back is to get the so called 'consultants' or basically the agents of Genneva to compensate you for selling this scheme to you. As some of them could be working full-time in the regulated industries, eg. financial services industry, they will be in serious trouble if regulator...

Investors in other gold buyback scheme - get your gold assayed at SAO and do the necessary if it turns out not what you're promised; get out of the scheme and get your money back soonest. Good luck!

 

[XRegaX]

Knew a active introducer of Genneva who asked me to introduce to my network.

Think her shop has been attacked and boycotted since the Genneva scam breaks into the local news.

 

[Dividends Warrior]

game over already what update. No money. No nothing. Finito. End of story. Move on with life.

Hahahahah!

 

[Talkcents]

There is a news article on page 2 of Business Times today. The sum involved in Malaysia may now exceed RM10 billion for just Genneva alone - exclude other gold buyback firms.

The chances of recovery for investors are very slim indeed, without a bailout by government...

 

[redstone]

There is a news article on page 2 of Business Times today. The sum involved in Malaysia may now exceed RM10 billion for just Genneva alone - exclude other gold buyback firms.

Charles Ponzi’s surrender to federal authorities brought down 5 banks together with him. His once loyal investors were wiped out, receiving less than 30 cents to a dollar. In total, his investors lost about $20 million in 1920 (about $225 million in 2011 dollars). Using the same scheme 88 years later, Bernie Madoff brought down about $13 billion in investors’ money.