Problems with Genneva Payout

David Fong

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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?
 

gennevacomplaingroup

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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
 

Dividends Warrior

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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!!!!!!! :s8:
 

Dividends Warrior

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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. :(
 

gennevacomplaingroup

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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!!!
 

Dividends Warrior

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Maybe can make police report????:s11:

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

bendwolf

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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.
 

FP_IFA

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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.
 

David Fong

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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...
 

peterchan75

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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.
 

Majestic12

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And we witness the power of unbridled greed and the lack of solid fundamentals put together.
 

kebinu

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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.
 

Shiny Things

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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.
 
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Hyruga

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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...

If you can sell it, go ahead. Learn to cut loss.
 

Majestic12

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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.

Your intentions are commendable Shiny, but I doubt any action will be taken by the authorities and by the individuals affected.

Reasons?

Individuals - loss of pride and face. Singapore culture is such that it is okay to lose money but not social reputation
Authorities - Stigma on Singapore's reputation as an open economy
 

bendwolf

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Who doesn't know the gold are sold at a premium? But this is the same reason you were convinced or you are convincing people to sign up. Saying that the Lehman crash you get a piece of paper, now you got physical gold.

Now it may have became a reality but you all cry foul? Don't eat your words.
 

ruzmidah

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Next to fall will be Virgin Gold.

Sad to see some of my family friends get sucked into VGMC.
 

Accesscode

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Next to fall will be Virgin Gold.

Sad to see some of my family friends get sucked into VGMC.


This statement is correct.
VGMC is the next to fall. It's modus operandi is simply unsustainable, just like Genneva.

And there's one more to be careful of: indexGB

I simply cannot understand why many are still falling for such scams and ponzi
 
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