Problems with Genneva Payout

[transform]

One of my friend sent this to me based on some Possible Scenarios on the following Options on Challenge, Risk & Reward!
If You choose to:
1) Sell-Back
Challenge - Suspended Temporarily
Risk - Legal action can be sought but no guarantee & can be costly.
Reward - Full buy-back value!

2) Renew Contract
Challenge - Gold with Genneva for 3 days.
Risk - Genneva closes down during waiting period. Delay>3 working days.
Reward - Receive all discounts & contract continues.

3) Keep Gold
Challenge - Wait for gold price to rise. Sell at market price (approx. 35% below purchase price).
Risk - Gold price may fall. Genneva contract expires without buy-back.
Reward - Gold with you.

Hope this chart may help more people around us...

So which option will you choose ?
Even this round they pull thru but the bubble will still grow any time will burst
when the new contracts slow down and the old ones still circulating need to payout. HELP !!!!!!!!!
Anyone can advise and save those who are in the pit or those still about to fall into it.

 

[transform]

Yes not few days.......
A few months already.

 

[makav31i]

So which option will you choose ?
Even this round they pull thru but the bubble will still grow any time will burst
when the new contracts slow down and the old ones still circulating need to payout. HELP !!!!!!!!!
Anyone can advise and save those who are in the pit or those still about to fall into it.

I seriously have no idea what to say as people should do their own research and understanding of a product before even investing a single cent. If they manage to pull through this time, people who are invested in them will brag that they are intelligent investors and those who wanted to invest in them but decided not to by listening to the advice given here will blame us for the opportunity loss. On the other hand if they cannot pull through, those who invested in it will blame us for not protecting them from their own ignorance and those who wanted to invest but heed the advice given will claim that they are intelligent investors. So it is damn if you do and damn if you don't. So for the sake of all the people invested in them, I really pray and hope that this scheme will last forever.

 

[maisatomai]

I seriously have no idea what to say as people should do their own research and understanding of a product before even investing a single cent. If they manage to pull through this time, people who are invested in them will brag that they are intelligent investors and those who wanted to invest in them but decided not to by listening to the advice given here will blame us for the opportunity loss. On the other hand if they cannot pull through, those who invested in it will blame us for not protecting them from their own ignorance and those who wanted to invest but heed the advice given will claim that they are intelligent investors. So it is damn if you do and damn if you don't. So for the sake of all the people invested in them, I really pray and hope that this scheme will last forever.

A lot of professionals joined this investment scheme for your information. One reason why MLM thrives is because the product is sold by someone you trust, and not by any random salesman.

IMO, all MLM are derivatives, thriving on some underlying investments. 1.5%*12=18%. Warren Buffet annual investment return is about 20%. What makes you think an underlying investments can make 18% per year, even if you ignore sales charge etc

Heard that MAS stopped this program, is that true?

 

[makav31i]

A lot of professionals joined this investment scheme for your information. One reason why MLM thrives is because the product is sold by someone you trust, and not by any random salesman.

IMO, all MLM are derivatives, thriving on some underlying investments. 1.5%*12=18%. Warren Buffet annual investment return is about 20%. What makes you think an underlying investments can make 18% per year, even if you ignore sales charge etc

Heard that MAS stopped this program, is that true?

If you mean by professionals as in Doctors,Lawyers and etc,they don't neccesarily make an professional investor. You directed that at me as though I support Geneva when it actual fact if you bothered to read my post in this thread you will know what I really think about it. Nope MAS did not stop the program,if it does it will be in the news. They have always been under the MAS watchlist.*

 

[maisatomai]

If you mean by professionals as in Doctors,Lawyers and etc,they don't neccesarily make an professional investor. You directed that at me as though I support Geneva when it actual fact if you bothered to read my post in this thread you will know what I really think about it. Nope MAS did not stop the program,if it does it will be in the news. They have always been under the MAS watchlist.*

No lah, I know you disagree with this investment. I was just trying to discuss on your statement "I seriously have no idea what to say as people should do their own research and understanding of a product before even investing a single cent."

Most people do not do research as they buy things from people they trust

 

[gennevacomplaingroup]

Genneva Complain Group Singapore

Attention Genneva customers and agents!!!

Private message us and we will work together to get our money back from GV.

IT'S TIME TO WAKE UP!!!!
YOUR MONEY.....
YOUR RIGHTS!!!

 

[dustychelsea]

Attention Genneva customers and agents!!!

Private message us and we will work together to get our money back from GV.

IT'S TIME TO WAKE UP!!!!
YOUR MONEY.....
YOUR RIGHTS!!!

1 of the moderator who also invested/involved.

 

[SuperHunk3488]

So which option will you choose ?
Even this round they pull thru but the bubble will still grow any time will burst
when the new contracts slow down and the old ones still circulating need to payout. HELP !!!!!!!!!
Anyone can advise and save those who are in the pit or those still about to fall into it.

Personally I won't even join this type of....... anyway if I happened to join I mean if...

Well based on my point of view I won't bored to sell back cause no way Genneva have the kind of money to buy back from me.... and I dun even bored to spend more money to get legal action against them is like burning more money away...

Renewal of contract look quite ok... but WHY should I put my gold with them??? hmm... what if they shut down or they might do something to my gold bar???? well... we never know if they mixed some other stuff and make it became not pure then when the moment I wanna sell back they can reject my gold?? 3 days alot of things can happened.....

Keep gold will be a better choice cause (example when I joined genneva I prepared to risk the marked up so since it happened I just have to take it as my plan....

 

[transform]

Personally I won't even join this type of....... anyway if I happened to join I mean if...

Well based on my point of view I won't bored to sell back cause no way Genneva have the kind of money to buy back from me.... and I dun even bored to spend more money to get legal action against them is like burning more money away...

Renewal of contract look quite ok... but WHY should I put my gold with them??? hmm... what if they shut down or they might do something to my gold bar???? well... we never know if they mixed some other stuff and make it became not pure then when the moment I wanna sell back they can reject my gold?? 3 days alot of things can happened.....

Keep gold will be a better choice cause (example when I joined genneva I prepared to risk the marked up so since it happened I just have to take it as my plan....

1. Keep the Gold and void the contract ? That means immediately lose the 25% to 40% of the investment value.

2. Renewal of contract and let them keep the Gold for 3 days (maybe these gold use to recirculate to new contracts and buy more time before burst) after sometimes same issue will pop-up again.

3. If the supporting pillars(agents) grow weak and the STRUCTURE will starts to crack and eventually Tumble.

Don't Dig the PIT bigger. Press the panic button.

 

[fareast85]

i thought this type of things are scam... different companies different names, same type of scam... over several years le

 

[maisatomai]

i thought this type of things are scam... different companies different names, same type of scam... over several years le

The genius who thought of mlm should be given noble prize in econ

 

[transform]

i thought this type of things are scam... different companies different names, same type of scam... over several years le

shimao_camyFriday, August 03, 2012
hmmmmm...just sent the gold bar back to genneva to renew the contract...the consultant told me it will be 3months contract(i would like to pull out after this 3months), but after sent back my gold, they said it will be 6months contract instead...hmmmm...quite worry now actually, coz they change their policies more frequently within months...

This is happening in Genneva Malaysia now.

 

[maisatomai]

On signs of the mlm collapsing, everyone will withdraw the investment, which quicken its collapse. Same as bank run

 

[transform]

The genius who thought of mlm should be given noble prize in econ

Same with the Borrowing Act. You start to borrow $10 from friend. When the due date comes you borrow $20 from another to pay $10 back to the first and the story goes... until nobody will lent him the money than all the last batch of friends who lent him the money got to bear the losses.

 

[SuperHunk3488]

shimao_camyFriday, August 03, 2012
hmmmmm...just sent the gold bar back to genneva to renew the contract...the consultant told me it will be 3months contract(i would like to pull out after this 3months), but after sent back my gold, they said it will be 6months contract instead...hmmmm...quite worry now actually, coz they change their policies more frequently within months...

This is happening in Genneva Malaysia now.

look like they are buying time.... hmmm.... scary....
WE better warn those who about to buy genneva gold to stop!!!
(unless those who have too much money and dun mind throw it away)
For those who have friends working as genneva agent also tell them to stop selling..... ALWAYS BELEIVE IN KARMA (what come around goes around)

 

[maisatomai]

look like they are buying time.... hmmm.... scary....
WE better warn those who about to buy genneva gold to stop!!!
(unless those who have too much money and dun mind throw it away)
For those who have friends working as genneva agent also tell them to stop selling..... ALWAYS BELEIVE IN KARMA (what come around goes around)

Stop selling==lose job?

 

[SuperHunk3488]

Same with the Borrowing Act. You start to borrow $10 from friend. When the due date comes you borrow $20 from another to pay $10 back to the first and the story goes... until nobody will lent him the money than all the last batch of friends who lent him the money got to bear the losses.

just like borrowing from loanshark!!!
Genneva is borrowing money from Loanshark (all the customers)
Agent are those middle man that introduce Loanshark to Genneva and get some comm out of it....

what is happening now is:
1) Genneva agreed to pay a monthly interest of 3% to Loanshark (customers) but they failed.....
2) Now more than 60% of genneva Loansharks is chasing them for 100% FULL payment... Do you think that will happened???
Just put yourself in their shoe... what will you do?
3) 3% also cannot pay.... how possible to pay 100%?
if genneva had collected $10,000.000 (10 millions) from all customers.
3% per month is $300,000.... yet they can't pay out....
how about the full $10,000.000???

and who will lend 10 millions for a company to pay off all debts?? hmm.....

 

[SuperHunk3488]

Stop selling==lose job?

I understand....

Still selling==lose trust, friendships and respect....

No integrity and Not professional! your choice....

 

[maisatomai]

I have second thought about this scheme.

Can I say they are buying call option ( or swap). If price of gold rises a lot, u only earn the 18% per year and they earn the rest. If gold price keep rising in years to come, it can be sustain. Not to forget the mlm element which also help to support