SG GOLD....another new gold co or genneva under guise?

[makav31i]

I already say this many times, the information found on Genneva website or the gold guarantee shows that they are selling gold at a mark up and is paying discount every month to the customer for an agreed upon of month. On the other hand, SG GOLD website only shows that they are selling gold bars and medallion and they no longer buying back gold.. That is all the information I can find and there is no such information about them selling gold like genneva or the gold guarantee... So which part you don't understand? Can show me a link on their website mentioning that they are selling gold at a huge mark up and giving monthly discount? I can't possibly pass judgment on a company with the lack of data and I have been asking you for evidence that they are using the same modus operandi as the other gold companies? If no one can provide evidence that they are selling gold at a high premium and giving back monthly payout how do you want me to just blindly agree with you without any thoughts?

So if I were to say UOB is selling diamonds and there is no such information found on their website you are just suppose to take my word for it and not demand me for my evidence? if you ask me where is my proof and I did not provide any and I start accusing you as an agent of UOB, what would you feel? That is what you are doing...If you had just provide an evidence of SG GOLD selling gold to customers and paying them monthly payments (which is all I am asking) I would have supported you in warning others about SG Gold... If no one can provide any evidence at all, am I just suppose to take other people word for it? I am just asking for information and evidence about SG GOLD Giving monthly payout on gold purchase as I clearly cannot find such evidence anywhere or I might have missed out on it.

So anyone with evidence that SG GOLD is selling gold at a high mark up and giving out monthly payout to customers for the gold purchase and will buy back the gold after a certain time, please do so. If they indeed did that, warning about to SG GOLD should be put out to prevent others from not falling for such scheme and I would personally put info on Facebook to spread the news as they are hiding such information on their official website...

 

[gennevacomplaingroup]

The real man operating SG GOLD is Mr Michael Tan Joon Hwa. He used to be a financial advisor with Elpis Financial Private Limited which is an insurance company (basically he was an insurance agent previously).

 

[gennevacomplaingroup]

More info on SG GOLD.....

They sell Gold at marked up prices around S$96k per 1kg.

Customers can buy 1 or 3 or 6 months contract.

Customers can benefit from a monthly 1.7-2% discount rebates.

Upon maturity of their contracts, customers can choose to renew their contract or sell back the gold at the same purchase price.

Can someone please point out the difference between their product and Genneva?

 

[makav31i]

And I'm still waiting for the evidence what you just say is of no use as I can also say UOB selling GIA certified diamond... You know in this forum people will reply to you here is where is the sauce? NPNT / NVNT /NLNT.. I can provide evidence that Genneva run a scheme like from screenshot of the website or for The Gold Guarantee I can provide business times articles that TGG is selling gold like genneva... I am not a supporter of all This gold 'investment' company... To help you ouT the only thing I can find is Asia Pacific Bullion came out an advertisement on the newspaper buying gold from buyers of SG GOLD and some other gold companies... Thanks Lucy for the image... Come on people I want to see evidence, brochures or customer contract with SG GOLD Before I can warn others about their schemes... I want to expose SG GOLD if they really sell similar scheme as no information can be found anywhere on their website and warnings should be given as they are hiding such information from the public and potential customers...

 

[makav31i]

The only evidence so far that SG GOLD might sell gold like Genneva... However, not really a substantial evidence and I am urging more people to come up with more solid evidence to expose this company... Personally I am a bit suspicious of SG GOLD... But no information can be found anywhere be it their website or Google search... They are really good at covering their tracks if they indeed offer similar scheme...

 

[Lucy1324]

The only evidence so far that SG GOLD might sell gold like Genneva... However, not really a substantial evidence and I am urging more people to come up with more solid evidence to expose this company... Personally I am a bit suspicious of SG GOLD... But no information can be found anywhere be it their website or Google search... They are really good at covering their tracks if they indeed offer similar scheme...

I do not encourage anyone to invest in any of the gold companies that gives such a high returns as it is obvious a Ponzi.

SG Gold is indeed the same as Genneva and The Gold Guarantee, selling markup Gold and giving monthly interest.

 

[makav31i]

I know, but without any evidence to show, how to inform others? They are really very scheming as no such information can be found anywhere...Anyone purchase from SG GOLD before? Please post contract or brochure from them that will be used as evidence to help warn others about such scheme...

 

[gennevacomplaingroup]

I know, but without any evidence to show, how to inform others? They are really very scheming as no such information can be found anywhere...Anyone purchase from SG GOLD before? Please post contract or brochure from them that will be used as evidence to help warn others about such scheme...

Guess you are of no help on SG GOLD.....we will get evidence very soon...don't worry

 

[gennevacomplaingroup]

This is the special arrangement offered by SG GOLD to ONLY Genneva customers.

SG Gold selling their gold at S$96.5k per 1KG to normal customers
BUT Genneva customers can buy 1KG at S$86k+!!!!

10k discounts per 1KG!!?? That's too much to justify any kind of common business logic. And why this special offer is ONLY to Genneva customers?????? There are just too many coincidentals to ignore the potential of Genneva working with SG GOLD!!!! Here are the 3 coincidental facts so far.....

1. SG Gold started at the same time when Genenva started having problems.
2. SG Gold managed to send sms DIRECTLY to most of the Genneva customers and offer them their products.
3. SG Gold is selling products that are almost identical to Genneva.
4. SG Gold offering special terms ONLY for Genneva customers.

Please don't jump from a fire to another fire!!!!

 

[gennevacomplaingroup]

SG Gold currently practices a limit on their daily sales as well as customer sell backs.....10KG per day for both.

It doesn't make sense as there will be customers who will want to renew their contracts and it will definitely cause a severe sell back bottle neck in time to come. Again, this is very similar to Genneva case when they limited customer sell backs at 5KG per day just before they declared they didnt have money to pay.

 

[martinlee1688]

The Gold Guarantee owned by Lee Song Teck suspect meeting with financial problem currently!

Latest gold bullion news update,

The Gold Guarantee and Asia Pacific Bullion Owned By Lee Song Teck are on MAS Alert List Now!

The Gold Guarantee Pte Ltd

Please check at MAS Investor Alert List >> www.mas.gov.sg/IAL.aspx?sc_p=T

Asia Pacific Bullion Private Limited

Please check at MAS Investor Alert List >> www.mas.gov.sg/IAL.aspx?sc_p=A

The Gold Guarantee Pte Ltd and Asia Pacific Bullion Pte Ltd owned by Lee Song Teck which suspect meeting with financial problem currently threatening agents and customers not to sell back their gold!

Dear The Gold Guarantee and Asia Pacific Bullion agents and customers,

The below message may be a bit disturbance and disappointment sent out by the owner Lee Song Teck of The Gold Guarantee Pte Ltd and Asia Pacific Bullion. I feel concern about this company The Gold Guarantee which suspect meeting with financial issue currently threatening agents and customers not to sell back their gold or paper gold back to company and asking their sales leader to sales talk to their The Gold Guarantee agents to ensure their customers not to sell back. Please be careful about the situation.

Message from the Owner of The Gold Guarantee and Asia Pacific Bullion Lee Song Teck to their sales leaders:

“Guys on a serious note. This next few days is crucial. CALL all your agents and communicate with them and also guide them on how to speak to their prospects and clients.

Ensure no sell back. All those that sell back now I will probably ban them from doing new sales after this and also future promotions they will be excluded from it.

I am very very very serious on this.” By Lee Song Teck

 

[TanAhKhow]

Another company Prestijustlee Pte Ltd offers paper Investments at 25% returns per annum.

Prestijustlee Pte Ltd

sg gold n Prestijustlee Pte Ltd

potenial saga/scam

 

[gennevacomplaingroup]

sg gold n Prestijustlee Pte Ltd

potenial saga/scam

Heard a lot of customers went to SG Gold just prior to Genneva's collapse. Wont be surprise if SG Gold will be in the MAS Investor Alert List soon.

 

[Dividends Warrior]

Why the obsession with gold?

 

[tbh222]

what SG gold, why not just buy some gold indices ?? kinda BS to invest in companies that deals with gold that are not corelated with gold at all. anyone without any means of thinknig logically should just stay away from investing thier money except by putting them in their piggy bank.

basically these firms take your money and works like any other insurance companies, take your money market market market themselves, buy up properties and selling them for profit, this is crazy

 

[mktfrenz1018]

Prestijuslee selling paper gold? is this authorised by any govt bodies?

a check on a few companies Asia Pac bullion + Prestijuslee + Gold Guarantee ...gold summit asia
discover a common person involved. Lee ...S T .

Heard pple saying gold guarantee selling paper gold .. is this true?

are they regulated by MAS?

heard some frds bought n got worried....kif in doubt gd to report to police etc

 

[535ggsnj]

SG Gold payment delayed

was shocked to hear from my agent that this week "discount" collection
on this week will be delayed.

what will happen next ?

 

[gennevacomplaingroup]

was shocked to hear from my agent that this week "discount" collection
on this week will be delayed.

what will happen next ?

History repeating itself again.....another Genneva case in the making.

Strongly urge customers to get out now before it is too late!!!

 

[redstone]

second firms-sg gold to Collapses for this year

The Gold Guarantee (TGG) the first( The Gold Guarantee’s Customers Lodge Police Report | Financial Planning Central )


Another Gold Buyback Firm SG Gold Collapses

Another Gold Buyback Firm SG Gold Collapses | Financial Planning Central

 

[Shiny Things]

History repeating itself again.....another Genneva case in the making.

Strongly urge customers to get out now before it is too late!!!

If the payments are getting delayed then it's already too late. Sorry, dude. You've been left holding the bag.