Problems with Genneva Payout

[SuperHunk3488]

Today wan bao got GENNEVA news!!!

Check it out guys!!! 29/08/2012 Wan Bao page 7

1 million invested in Gold headline... scary...
The best part is they still doing promotion for hari raya!!!
2 months contract term with 4.5% return???
6 month contract 3% payout already got problem??
how to payout 4.5% in just 2 months....

Unless............ They prepare to RUN in 2 months time...

in the news paper article showing 2 consumer links...
MAS & MoneySENSE

Genneva is in the list...(I checked)
main office: Orchard Towers Rear Blk #08-09
premier centre: Orchard Towers Rear Blk #08-06
GMC, Marketing etc...

those who have a heart with warm and red blood...
Pls dun drag all those people with hard earn money into it!!!
touch your heart, feel your heart beating? sigh.....

 

[SuperHunk3488]

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

If this kind of plan really works....
UOB will be the 1st one to start in Singapore
1) The branding is there
2) Financially Stronge
3) UOB got direct sources for gold bar
4) MAS
5) They are simply too BIG!!! international......

If let say UOB do the same plan..
100% people will buy without asking much... long Q....
I even consult one of my friend who work in UOB
(one of the TOP guy -Mr. Q__k) about Genneva plan..

He said:"Even we UOB also can't deliver this type of payout!!"

 

[mtepl2012]

scam also? heard members got steady return. Company going to be listed soon... I not into it, just heard.

Are these two companies The Gold Guarantee Pte Ltd and Asia Pacific Bullion are the scam company too? These two companies have the same program too.

 

[mtepl2012]

Are these two companies The Gold Guarantee Pte Ltd and Asia Pacific Bullion are the scam company too? These two companies have the same program too.

 

[sgxgal1]

existing victim

hoping to get my money back. regret being sucked into this whole Genneva scam.

 

[Dividends Warrior]

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.

Sadly, it won't......

 

[Dividends Warrior]

If this kind of plan really works....
UOB will be the 1st one to start in Singapore
1) The branding is there
2) Financially Stronge
3) UOB got direct sources for gold bar
4) MAS
5) They are simply too BIG!!! international......

If let say UOB do the same plan..
100% people will buy without asking much... long Q....
I even consult one of my friend who work in UOB
(one of the TOP guy -Mr. Q__k) about Genneva plan..

He said:"Even we UOB also can't deliver this type of payout!!"

This is so true.

 

[makav31i]

Sadly, it won't......

Of course it won't.

 

[mtepl2012]

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.

Are these two companies The Gold Guarantee Pte Ltd and Asia Pacific Bullion are the scam company too? These two companies have the same program too.

 

[mtepl2012]

Are these two companies The Gold Guarantee Pte Ltd and Asia Pacific Bullion are the scam company too? These two companies have the same scheme too.

Please help to explain

 

[SuperHunk3488]

Are these two companies The Gold Guarantee Pte Ltd and Asia Pacific Bullion are the scam company too? These two companies have the same program too.

I didn't heard of these two companies so far...
are you able to show some example of people around you involved with them? scary....

MAS listed them so far?

 

[SuperHunk3488]

I am on leave on till 3rd sep

By the way i am on leave now....
I personally will go and sit in to their seminars and find out more about their plan or s__m???

so if any of you guys got direct contact with Gold Guarantee and Asia Pacific Bullion agents... Pls PM me.. I will meet up with them personally to find out more before more and more people fall into it!!!

I feel like a HERO now...

 

[transform]

hoping to get my money back. regret being sucked into this whole Genneva scam.

How many months of your 2% due pasted ?
Did you do a Renewal contract which you need to hand over your Gold to them for 3 Days ?

 

[FP_IFA]

I don't remember the mark up price for their gold were above 25%. If they are quietly increasing the mark up percentage, it really means they are having bad cashflow problem.

 

[transform]

Check it out guys!!! 29/08/2012 Wan Bao page 7

1 million invested in Gold headline... scary...
The best part is they still doing promotion for hari raya!!!
2 months contract term with 4.5% return???
6 month contract 3% payout already got problem??
how to payout 4.5% in just 2 months....

Unless............ They prepare to RUN in 2 months time...


those who have a heart with warm and red blood...
Pls dun drag all those people with hard earn money into it!!


Very ATTRACTIVE....... Greed sure fall into it.
NEED MORE GOLD.......... CIRCULATING........

 

[climber99]

hoping to get my money back. regret being sucked into this whole Genneva scam.

So meaning you bought into the scheme without knowing about the markup and the potential lost? If you already know then why call it scam when you went in with your eyes open?

Even when you buy gold from uob, you lose the spread straightaway (+ gst) and you know the risk is price can go up or go down.

 

[SuperHunk3488]

I don't remember the mark up price for their gold were above 25%. If they are quietly increasing the mark up percentage, it really means they are having bad cashflow problem.

based on current gold spot price is about S$66k and Genneva is selling at $96k therefore they mark up their more than 40%... damn scary lor...
and even with such high mark up also cannot make it!!!

 

[SuperHunk3488]

hoping to get my money back. regret being sucked into this whole Genneva scam.

I personally look at the current situation of genneva....
Sorry to say that... forget about your money... you will never get back...
If you wanna know the reasons just look at all my posts and you will get the answer.

when you fisrt step into genneva plan.... you already prepared to lose the mark up!!! cos you still holding gold bar right??? in another word to say is you already know you have 70% with you right???

so.... since all your preparations is done before hand and now is the matter of time to wait for it to happened!!

You can't blame the agents cause all are just selfish to the max!!!
They get their comm and 你死你的事！(sorry genneva agents! the truth hurt)

Untill now they still keep on selling to new greed customers... sigh....

But I can't help you unless you willing to sell me at much lower price???

 

[maisatomai]

So meaning you bought into the scheme without knowing about the markup and the potential lost? If you already know then why call it scam when you went in with your eyes open?

Even when you buy gold from uob, you lose the spread straightaway (+ gst) and you know the risk is price can go up or go down.

All boil down to trust. If u are jumping from parachute and ur parent say they check for u and is secure, will u bother to check. For some, they don even know how to check (I know some 60+ rich CEO who don know how to use Internet)

 

[sinvestg]

recently when bring back gold for renewal, Genneva will strip off the PAMP gold or UOB gold packaging to do something they call "data dot" process. Also all the gold will be rotated so you don't get back the piece of gold you brought in. For example, if bring in PAMP gold for renewal, it may be change to some other brand like Lion Head or their own Genneva gold.