Problems with Genneva Payout

stargazer008

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lol zhun bo? 2-3% a month? consistently?

zhun lah. I personally achieved this before. This is why majority of my investment is in stock.

Got into this genneva thing cos at point of time, like everyone else, was attracted by the 'promised return' - no need to read market/companies reports and charts like stocks. :s22:
 

anddrool

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They need to achieve 90%-100% annually. Assume they mark up 30% above spot price. They need to buy the gold bar to give to buyers. They are left with 30% capital to play with. Then they have to use 30% to generate 24% to break-even. How can they GUARANTEE this kind of payout.:s22:
 

PeacefulNemesis

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Read the comments really dunno whether to cry or laugh..

565025_276611205790111_1602990425_n.jpg

OUR DEMANDS:

1. Gold confiscated by Bank Negara Malaysia to be returned to Genneva Malaysia Sdn Bhd (GMSB) immediately for delivery to us.

2. Unfreeze GMSB bank accounts immediately as Hibah and commissions to over 60,000 customers are due.

3. Stop attacking, persecuting and tarnishing Genneva Malaysia Sdn Bhd in the media on assumptions and suspicions without evidence.

4. Remove the good name of Genneva Malaysia Sdn Bhd from the BNM Financial Consumer Alert List as gold trading is an unregulated industry in Malaysia.

5. Acquit Genneva Sdn Bhd. This court case has been ongoing since 2009 and being used by competitors to tarnish Genneva Malaysia Sdn Bhd since 2009.

More to follow. Meantime, LIKE Genneva Malaysia Supporters | Facebook for updates.
 

kumgongkia

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They need to achieve 90%-100% annually. Assume they mark up 30% above spot price. They need to buy the gold bar to give to buyers. They are left with 30% capital to play with. Then they have to use 30% to generate 24% to break-even. How can they GUARANTEE this kind of payout.:s22:

zhun lah. I personally achieved this before. This is why majority of my investment is in stock.

Got into this genneva thing cos at point of time, like everyone else, was attracted by the 'promised return' - no need to read market/companies reports and charts like stocks. :s22:

lemme ask again..
zhun bo?:s13:
 

mosaic1979

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zhun lah. I personally achieved this before. This is why majority of my investment is in stock.

Got into this genneva thing cos at point of time, like everyone else, was attracted by the 'promised return' - no need to read market/companies reports and charts like stocks. :s22:

Wah you can achieve 24% p.a. consistently every year? Than why need to put with Genneva since you can achieve it yourself? Must be a multi millionaire already no need to come forum talk to us common folks :s13:

Actually hor I think your record should be able to beat warren buffet s berkshire hathaway, or most hedge funds in the global market for that matter

So far most people I know of make money shout very loud. But lose money keep quiet.
 
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anddrool

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Lets enter some figures.

Assuming markup is 30%. 1 kg gold spot price = 70k
Selling price = 70k + 0.3*70K = 91K
After buying gold and handover to buyer, left with 21K to generate 91K*0.24 = 21.84K per annual.

That is 100% gain on investment. Who is able to guarantee this.
And this is just to breakeven the 24% interest given to buyer. What about the agent comm, office rental, salaries, etc.
 

shotbottle

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Anybody who can generate 100% per year do not need to setup a sales network to get in customers

Fund managers will be waiting outside their office to park their funds with the company, tio bo?
 

makav31i

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Anybody who can generate 100% per year do not need to setup a sales network to get in customers

Fund managers will be waiting outside their office to park their funds with the company, tio bo?

What do you expect from people that put money in Genneva? Those who jump ship to other gold company in the MAS investor alert list are telling those victims of Genneva to jump to a new ship to safe them from the sinking ship... They claim that business model for TGG is different which may or may not be true, but what is known to us is that TGG and APB is in the MAS investor alert list just like Genneva and TGG is selling gold at 90+k for a kilo just like genneva when UOB is selling at 70k...So yup generating 100% returns per year consistently is an easy thing to do for gold companies...
 

shotbottle

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If really can generate 100% consistently every year, all I need to do is start with 100k and compound it and wait for 10 years n I will have 100 mil

Why still need to work so hard hahahaha
 

makav31i

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Shame on Warren Buffett for not being able to generate 100% return per year for Berkshire... The shareholders of Berkshire should vote for removal of Buffett and hire the directors of Genneva, Lee Song Teck from TGG and APB and all the gold companies director... Temasek Holdings should hire this genius and investors to grow Singapore economy 100% a year and not just a few percent per year...
 

sarcomere

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MAS alert list

MAS alert list is a list for public to understand that companies that are within the list are companies that are dealing with products that are misrepresented by other companies, or misrepresented with association with MAS before. Simply means that some consultant outside misrepresented the companies in the alert list by mentioning the company is associated/regulated by MAS. The alert list is not a list to mention companies that are in fraud business.
 

makav31i

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MAS alert list is a list for public to understand that companies that are within the list are companies that are dealing with products that are misrepresented by other companies, or misrepresented with association with MAS before. Simply means that some consultant outside misrepresented the companies in the alert list by mentioning the company is associated/regulated by MAS. The alert list is not a list to mention companies that are in fraud business.
The investor alert list is a list of company that MAS did not authorized to conduct regulated activities in Singapore. Let's put things into perspectivr, moneylenders are regulated under the Moneylenders Act, this seperates the legal money lenders from the illegal money lenders known as loan sharks... Money Lending is a regulated activities... so if you are conducting regulated activities but without the proper license which in other words means that you are not regulated by MAS, you will make it to the list. There are a lot of laws and regulations which needs to be followed like the financial Advisers Act or the secondhand good dealer act and so many other legal procedures to comply with the regulations of the country... if not people can just open banks or financial planning companies or insurance or fund management with no regulations to follow which does not protect the consumer or investors... Not because they are misrepresented by other companies..
 

Mobbyland

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zhun lah. I personally achieved this before. This is why majority of my investment is in stock.

Got into this genneva thing cos at point of time, like everyone else, was attracted by the 'promised return' - no need to read market/companies reports and charts like stocks. :s22:

2-3% monthly lol
 

drago88

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The following was posted on Jeen Hao blog and LOWYAT GENNEVA forum.

p c wong October 14, 2012 at 12:42 PM

CRAZY DEPOSIT TAKING

You pay 100 units for gold. With 25% premium, the gold cost 80 units and markup is 20 units. After buying gold, GENNEVA got only 20 units left to invest. Pay hibah 3 units, consultant 0.5 units, upline 0.3 units, TOTAL 3.8 units per MTH or 45.6 units per annum. So with 20 units net cash holding GENNEVA must earn ROI of 45.6/20. x 100 = 228% pa just to cover these items !!! What about profit and admin overheads etc?
So how to sustain the operation? Here’s how:

1. They do not need capital, in fact the total paid up capital of GENNEVA M’SIA SDN BHD is only RM50,000 ! Unbelievable when they do billion RM business. Investor must pay up front for purchase and GENNEVA use part of you money to buy the gold. That is why you wait and wait for your gold.

2. They must keep on growing and growing the members to build up the PONZI Pyramid exponentially so that all the new investors money, only the 20 unit part, is used to pay the old investors’ hibah, etc.

3. Every now and then they do sleight of hand to pass you some own branded GENNEVA or SAMUDRA gold, maybe fake gold coated tungsten fools’ gold.

4. They make you play musical chairs game to wait and wait after you paid, maybe for old Buyer’s gold being sold back, or gold being handed in for inspection during rollover. So they did not back every Buyer’s order with real gold but just pass the same piece round and round. Some say only 50% backed, some say 70% back. Whatever, they are playing you for fools.

5. When you sell back, they make you wait and wait and worry like mad for your money!

6. The consultants say hibah and buy back at original price guaranteed BUT in writing they say these are “discretionary” — in the SALE agreement, in the signed acknowledgement form, and in the news ads in the papers. If They fail or refuse to pay you hibah or to buy back, you cannot even sue them.

7. When the pyramid stops growing and there are more sell back than buying in, it is time for their exit strategy. By this time they have a lot of cash in their pockets — your money. They
may just abandon the company like in S’PORE, never send lawyer to fight the court case, OR they may secretly arrange for BANK NEGARA, Police etc to raid Them, then they ask every one to blame the GOVT for spoiling the party. When this happens, they already hide all the money and gold overseas!!!!

NOT MUCH HOPE TO GET BACK ANYTHING FROM THEM.
DO NOT EVER LISTEN TO THAT ONE CALLED ANON ME. HE WILL LEAD YOU TO FINANCIAL RUIN.
 

SuperHunk3488

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For those who are holding GV gold bar

since GV have come to an end.... (no way to recover)
i have spoke to some of my friends and relatives, we decided to buy in gold bar (UOB,pamp suisse,merlion and lion head only) in cash but 5%-8% below gold spot price... we know that most of the pawn shop also dun take in anymore gold bar... so those who keen to sell to us base on our offer price kindly PM me...

But we do have a budget so each person not more than 3kg...
as for GV gold will be 10%-12% less than spot price...

Our aim is to help some people at the same time make some profit...:s12:
 

sinvestg

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since GV have come to an end.... (no way to recover)
i have spoke to some of my friends and relatives, we decided to buy in gold bar (UOB,pamp suisse,merlion and lion head only) in cash but 5%-8% below gold spot price... we know that most of the pawn shop also dun take in anymore gold bar... so those who keen to sell to us base on our offer price kindly PM me...

But we do have a budget so each person not more than 3kg...
as for GV gold will be 10%-12% less than spot price...

Our aim is to help some people at the same time make some profit...:s12:

Do you still take if the seal is broken? Thanks.
 

Tee_bag

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since GV have come to an end.... (no way to recover)
...
Our aim is to help some people at the same time make some profit...:s12:

not too sure on the helping part .. but you are profiteering from the victims ..

but then again .. willing buyer .. willing seller :s22:
 

makav31i

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not too sure on the helping part .. but you are profiteering from the victims ..

but then again .. willing buyer .. willing seller :s22:

Yup if people did their research they will know where to sell at spot or above spot... =:p

But as you say willing buyer and willing seller...
 
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