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Old 18-08-2012, 01:50 PM   #1
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Problems with Genneva Payout

Hi all,

Yesterday I am scheduled to receive my second month discount from Genneva. But to my shock, they told me that they are having financial difficulities and need to delay my discount payout for a few more days...

Do anyone of you experience the same thing?
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Old 18-08-2012, 02:22 PM   #2
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Geneva Complain Group

We are a group of genneva singapore customers who are extremely disgruntled on their consistent delays and empty promises against the obligations they have promised to us.

Only in numbers and in unity will we have a very good chance of getting our money back.

If you are in the similar position, please send me a personal message asap and we can help you.

All correspondences will be treated with the strictest confidence.

The Genneva Complain Group
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Old 18-08-2012, 05:46 PM   #3
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Warning has been given in this forum and some hints given in my personal blog from a few months and few weeks back.

When SOPs are tweaked to delay payment etc, you should know it's gone. I don't know who can help.

Good Luck.

http://kevinchiathiamjoo.com/2012/08...t-probably-is/
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Old 18-08-2012, 06:34 PM   #4
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Hi all,

Yesterday I am scheduled to receive my second month discount from Genneva. But to my shock, they told me that they are having financial difficulities and need to delay my discount payout for a few more days...

Do anyone of you experience the same thing?
Wow! I am so shocked!!!!!!!
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Old 18-08-2012, 06:35 PM   #5
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We are a group of genneva singapore customers who are extremely disgruntled on their consistent delays and empty promises against the obligations they have promised to us.

Only in numbers and in unity will we have a very good chance of getting our money back.

If you are in the similar position, please send me a personal message asap and we can help you.

All correspondences will be treated with the strictest confidence.

The Genneva Complain Group
I am afraid not.
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Old 19-08-2012, 12:29 AM   #6
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If any Genneva Singapore customer who does not believe the severity of the situation, PLEASE PLEASE proceed to initiate a Sell Back upon your due date!!!

Loads of customers and agents are making a big fuss at Genneva's office every single day!!! Go witness it with your own eyes and pray they don't close down soon.

We still have time to take actions against Genneva Singapore. Join us before it's too late!!!
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Old 19-08-2012, 08:04 AM   #7
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Maybe can make police report????

Or else I think the management will run away with the money soon.
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Old 19-08-2012, 11:24 AM   #8
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I would like to tell those greedy people as well as my friends who are involved in it, and to give them back the statement which they like to say.

Genneva gives you a physical gold to keep. If the company closes, go and sell your gold in the market.
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Old 19-08-2012, 12:13 PM   #9
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I am glad I managed to convince someone to get out in time and she in turn got her friend out.
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Old 19-08-2012, 12:39 PM   #10
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I would like to tell those greedy people as well as my friends who are involved in it, and to give them back the statement which they like to say.

Genneva gives you a physical gold to keep. If the company closes, go and sell your gold in the market.
Sell at open market?

I buy that piece of Gold for $9,408 on 14 June...
I get $192 on my first month - 15 July..

If I sell on open market, UOB only buying at $6,487!
Pawn shop should be also buying at about that prices...

I am at a lost now...
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Old 19-08-2012, 12:41 PM   #11
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Maybe can make police report????

Or else I think the management will run away with the money soon.

My agent told me not to make police report...

Or else if the company closed down, my monies will sure cannot get back...
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Old 19-08-2012, 12:46 PM   #12
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I would like to tell those greedy people as well as my friends who are involved in it, and to give them back the statement which they like to say.

Genneva gives you a physical gold to keep. If the company closes, go and sell your gold in the market.
Don't the investors already have the gold bars that they purchased at a premium. As with any ponze scheme, agents, early movers and operators make money.
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Old 19-08-2012, 12:58 PM   #13
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And we witness the power of unbridled greed and the lack of solid fundamentals put together.
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Old 19-08-2012, 01:20 PM   #14
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I would like to tell those greedy people as well as my friends who are involved in it, and to give them back the statement which they like to say.

Genneva gives you a physical gold to keep. If the company closes, go and sell your gold in the market.
Now is give gold. Wait for a week before getting money. There's a period of time without anything.
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Old 19-08-2012, 02:36 PM   #15
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You were warned.

You were warned in 2010.

You were warned in 2011.

You were warned in 2012.

Let me be clear, I'm not taking a victory lap here. I'm not pleased that I saw this coming two years ago.

I just want the theft to stop. I want it to stop right here, and right now.

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

Everyone on this forum - and, hell, everyone in Singapore - needs to learn that nobody is going to protect you from scams like Genneva.

The MAS will not protect you. All they can do is put Genneva on their watchlist, and Genneva has been on their watchlist for well over three years.

The small claims court won't protect you. They can't help you if the case is about a financial product.

And the CAD won't protect you. As they've shown time and time again - does anyone remember the Profitable Group fiasco? - they can't and won't act against Ponzis until after the scheme collapses.

Retail financial regulation in Singapore is a disgrace, and the people who end up getting hurt by this regulatory black hole are your friends. Your parents. Your co-workers. You. The first thing you can do is learn to spot a scam; learn to protect yourself; and learn to protect the people around you.

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

But there's one other thing you can do. I can't do it any more, because I'll get accused of "meddling in domestic affairs" from my pinko commie liberal-democrat granola-munching San Francisco pied-à-terre. But you can.

You can raise hell.

Write to the Straits Times, and tell them that you lost money. You'll lose face for admitting that, sure. But hell, you might as well save other people from losing face.

Demand to know why these Ponzi schemers weren't stopped before they blew up. Demand to know why Profitable Group wasn't stopped. Demand to know why Sunshine Empire wasn't stopped. Demand to know why the CAD has such a terrible record of protecting Singaporean citizens.

Demand to know why the MAS's hands are tied. Demand to know why they can't start raiding these scumbags and shutting them down, instead of just putting their names on a weak-sauce watchlist.

And when they print the usual elliptical answer from an MP, you don't have to take that. You can go to that MP's office and demand that they give the CAD and MAS more powers. You can talk to NMPs and get them on your side. You can call up Tan Kin Lian and recruit him to the cause.

Don't just sit there and take it. If you sit there and take it, these scumbags will keep taking your money; taking your parents' money; taking your friends' money. This will keep happening until you stand up and shout STOP.

I can't shout STOP any more.

But you can.

Last edited by Shiny Things; 19-08-2012 at 02:47 PM..
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