Problems with Genneva Payout

[gennevacomplaingroup]

The recent numbers of Genneva customers which joined our cause has been both encouraging and worrying.

Encouraging is because there are more customers who are willing to stand out and say ENOUGH IS ENOUGH! The more numbers we have the easier we can engage Genneva legally....again costs is only a concern.

Worrying is that now Genneva requires their customers to pass their gold back to them whenever the customers need to renew their contract. Once the gold is in their hands it is extremely difficult to get it back! 1 customer mentioned his 4kg of gold got stuck in Genneva for more than 3 weeks now and it's only for renewing his contract! OMG!

We would like to warn all geneva customers NOT TO PASS YOUR GOLD TO GENNEVA FOR ANY REASON!!! YOU MIGHT NOT GET IT BACK!!!!

Please go and sell it, pawn it, keep it or donate it to charity.....don't give Genneva a chance to even take your Gold away!

YOU HAVE BEEN WARNED!!! AGAIN!!!

 

[gennevacomplaingroup]

SG GOLD in cohoots with Genneva

This is the latest rumor we heard......

SG GOLD might actually be working together with Genneva!!!

Quite a few of our members also received the following SMS....

Dear partners, rescue plan for GV customers
Option 1) uob selling price + 25% (cash top up) = invoice base on total price add up...............etc etc etc....

When Genneva Malaysia got sued by Bank Negara for money laundering Genneva's assets were frozen. They started another company to continue with their business.

History repeating itself?

 

[Asure7]

This is the latest rumor we heard......

SG GOLD might actually be working together with Genneva!!!

Quite a few of our members also received the following SMS....

Dear partners, rescue plan for GV customers
Option 1) uob selling price + 25% (cash top up) = invoice base on total price add up...............etc etc etc....

When Genneva Malaysia got sued by Bank Negara for money laundering Genneva's assets were frozen. They started another company to continue with their business.

History repeating itself?

Not involved in GV.
However, this scheme is very very familiar... think I read it in the papers previously. Maybe its related to the spas closing down etc.
Spa-1 close down, boss run road.. cannot honour customers' remaining spa packages.
Spa-2 offer to take over, must sign something (maybe new contract)... if worse case, need to "top up". Many were enticed.

End up, scammed customers from Spa-1 can no longer sue or ask for compensation (cos they agreed to continue the remaining package deal with Spa-2).
Those who "switched over" to Spa-2... not sure whether Spa-2 closed down too, or actually related to Spa-1.

Please verify.. I'm not too sure whether its Spa or some other business.

 

[SuperHunk3488]

Confirm a not???

This is the latest rumor we heard......

SG GOLD might actually be working together with Genneva!!!

Quite a few of our members also received the following SMS....

Dear partners, rescue plan for GV customers
Option 1) uob selling price + 25% (cash top up) = invoice base on total price add up...............etc etc etc....

When Genneva Malaysia got sued by Bank Negara for money laundering Genneva's assets were frozen. They started another company to continue with their business.

History repeating itself?

If based on what you mentioned above. hmmm....
I wun say is 100% true but is kind of similar stories i heard somewhere.
1st of all the UOB selling price is abt $72,537.44 (05/09/12 - 12pm) + 25%
cash top up is by customer which is $18,134.36 (still come out $$$$ DUMB)
from there your value on that contract turn out to be $90,671.80!!!
pay $18k and get discount 3% of $90,671.80????

some question i wanna to ask is:
1) WHO HOLDING ON TO THE GOLD????(which ever ways still DUMB Plan)
2) How did SG gold manage to get all genneva agents/customers contact???
(buy data from inner staffs or just a switch over from genneva to SG as planned)

anyway that's not important lah...
If it is still same pattern of business model then forget it....

**Take my word!!
Next month Singapore gonna take away GST(Gov Said Thank-u)
from precious metal!!! is so easy for Gov to come out a LAW that:-
NO MORE MARKED UP FOR SECOND HAND PRECIOUS METAL OR FOR ALL PRECIOUS METAL TRADING!!!


trust me...IN SINGAPORE, IS POSSIBLE!!!!

 

[Lucy1324]

If based on what you mentioned above. hmmm....
I wun say is 100% true but is kind of similar stories i heard somewhere.
1st of all the UOB selling price is abt $72,537.44 (05/09/12 - 12pm) + 25%
cash top up is by customer which is $18,134.36 (still come out $$$$ DUMB)
from there your value on that contract turn out to be $90,671.80!!!
pay $18k and get discount 3% of $90,671.80????

some question i wanna to ask is:
1) WHO HOLDING ON TO THE GOLD????(which ever ways still DUMB Plan)
2) How did SG gold manage to get all genneva agents/customers contact???
(buy data from inner staffs or just a switch over from genneva to SG as planned)

anyway that's not important lah...
If it is still same pattern of business model then forget it....

**Take my word!!
Next month Singapore gonna take away GST(Gov Said Thank-u)
from precious metal!!! is so easy for Gov to come out a LAW that:-
NO MORE MARKED UP FOR SECOND HAND PRECIOUS METAL OR FOR ALL PRECIOUS METAL TRADING!!!


trust me...IN SINGAPORE, IS POSSIBLE!!!!

I GUESS NOW YOU MUST BE PANIC...
SG GOLD PLAN IS TRUE...
U DID NOT READ MY POST YESTERDAY?

THE PONZI EAT THE PONZI STARTS AGAIN

THE BEST SOLUTION IS KEEP YOUR GOLD...

DUN GO BACK TO GENNEVA, THE GOLD GUARANTEE, SG GOLD, ASIA PACIFIC BULLION or ANY GOLD COMPANIES THAT IS NOT REGULAR BY MAS!!!

 

[Lucy1324]

The recent numbers of Genneva customers which joined our cause has been both encouraging and worrying.

Encouraging is because there are more customers who are willing to stand out and say ENOUGH IS ENOUGH! The more numbers we have the easier we can engage Genneva legally....again costs is only a concern.

Worrying is that now Genneva requires their customers to pass their gold back to them whenever the customers need to renew their contract. Once the gold is in their hands it is extremely difficult to get it back! 1 customer mentioned his 4kg of gold got stuck in Genneva for more than 3 weeks now and it's only for renewing his contract! OMG!

We would like to warn all geneva customers NOT TO PASS YOUR GOLD TO GENNEVA FOR ANY REASON!!! YOU MIGHT NOT GET IT BACK!!!!


Please go and sell it, pawn it, keep it or donate it to charity.....don't give Genneva a chance to even take your Gold away!

YOU HAVE BEEN WARNED!!! AGAIN!!!

Just dun go back to Genneva?

How about going back to The Gold Guarantee, SG Gold, Asia Pacific Bullion or Virgon Gold Or any Gold Companies that is not regulated by MAS?

 

[SuperHunk3488]

Huh?

I GUESS NOW YOU MUST BE PANIC...
SG GOLD PLAN IS TRUE...
U DID NOT READ MY POST YESTERDAY?

THE PONZI EAT THE PONZI STARTS AGAIN

THE BEST SOLUTION IS KEEP YOUR GOLD...

DUN GO BACK TO GENNEVA, THE GOLD GUARANTEE, SG GOLD, ASIA PACIFIC BULLION or ANY GOLD COMPANIES THAT IS NOT REGULAR BY MAS!!!

By the way.... pls keep track on all my post before you reply....
I am not into DUMB Plan.... why should i panic?

the best is Go Home and Sleep... the moment you wake up Gold Spot Price hit USD$3,000/oz

 

[Lover_Handphone]

Lee Soon Teck - The Gold Guarantee

Today (5 Sept 2012) in Straits Times pg B10, Lee Soon Teck of The Gold Guarantee advertised for a free seminar for "Why NOW is the 'Golden' time".

Basically it is a recuitment campaign to be his agent to sell Gold the Genneva way.

Don't waste your time attending it. And don't ever buy Gold from these goldcos !

 

[Lover_Handphone]

Not involved in GV.
However, this scheme is very very familiar... think I read it in the papers previously. Maybe its related to the spas closing down etc.
Spa-1 close down, boss run road.. cannot honour customers' remaining spa packages.
Spa-2 offer to take over, must sign something (maybe new contract)... if worse case, need to "top up". Many were enticed.

End up, scammed customers from Spa-1 can no longer sue or ask for compensation (cos they agreed to continue the remaining package deal with Spa-2).
Those who "switched over" to Spa-2... not sure whether Spa-2 closed down too, or actually related to Spa-1.

Please verify.. I'm not too sure whether its Spa or some other business.

Dear Asure7,

It can be Spa but most probably Timeshare. You can read more here:
http://forums.hardwarezone.com.sg/t...cam-awareness-dont-next-victim-940968-71.html

Lee Soon Teck, founder of The Gold Guarantee is also involved in this timeshare. The Gold Guarantee sells gold the same way like Genneva.

Beware of all these companies offering to help bail out buyers of Genneva's (and other goldcos) gold. These Goldcos gang up among themselves, sharing customers' data, and doing all they can to con more money out of desperate aunties and uncles.

Also be aware of some forumers offering rescue plan by PM.

I suggest going to CASE to submit your case with them.

 

[Lucy1324]

Dear Asure7,

It can be Spa but most probably Timeshare. You can read more here:
http://forums.hardwarezone.com.sg/t...cam-awareness-dont-next-victim-940968-71.html

Lee Soon Teck, founder of The Gold Guarantee is also involved in this timeshare. The Gold Guarantee sells gold the same way like Genneva.

Beware of all these companies offering to help bail out buyers of Genneva's (and other goldcos) gold. These Goldcos gang up among themselves, sharing customers' data, and doing all they can to con more money out of desperate aunties and uncles.

Also be aware of some forumers offering rescue plan by PM.

I suggest going to CASE to submit your case with them.

FULLY agreed with you... Never never buy anything from any GOLD Companies... And also never never PM anyone in this forum...


Suddenly I got an interesting idea...

PM those forumers like SuperHunk3488, GennevaComplainGroup etc...

Leave your real mobile but DIFFERENT fake name with DIFFERENT forumers.

See which GOLD company will call you within days or week using that "particular" fake name...

You will have a better understanding where they are from...

 

[transform]

DELAY 2% Payout running into the 3rd Months
But they are claiming that they are going STRONGER and BIGGER.
Can any good agent confirm the Company's Financial Status ?
HELP !!!!!!!!!

 

[Mecisteus]

there could be some hope. price of gold is going up again.

your payouts MAY resume if more suckers are coming in.

 

[Yellowfin]

If you have receive pm in soliciting business from anyone please report it to the admin of HWZ in the feedback forum.

Online Services & Basic Membership Support/Feedback - www.hardwarezone.com.sg

 

[transform]

Must Read !!!!!!

http://www.gennevaworld.blogspot.sg/

 

[SuperHunk3488]

Try Harder!!!

FULLY agreed with you... Never never buy anything from any GOLD Companies... And also never never PM anyone in this forum...


Suddenly I got an interesting idea...

PM those forumers like SuperHunk3488, GennevaComplainGroup etc...

Leave your real mobile but DIFFERENT fake name with DIFFERENT forumers.

See which GOLD company will call you within days or week using that "particular" fake name...

You will have a better understanding where they are from...

Well Said... at the end of the day, people in this forum can read the truth and see the fact... Not by guessing... (sigh.. waste gas)

 

[climber99]

DELAY 2% Payout running into the 3rd Months
But they are claiming that they are going STRONGER and BIGGER.
Can any good agent confirm the Company's Financial Status ?
HELP !!!!!!!!!

The way the forum is, do you think any "good agent" will dare to post here? Will just kena flamed regardless

 

[blablablah]

Hi transform,

How is your situation right now? Have you park-in your gold for 3 days for what they claim "Gold Inspection"? If so, when did you park your gold did they return back your gold on time as they promised?

I heard aft 3 days parking, they will return you the gold plus issuing you a payment voucher and you can claim your "delayed discount" in cash on the same day... So, in your case, did they honour what they said?

Geez, I hope they can be raid soon, or else many ppl suffer

 

[blablablah]

Thanks for the useful info, transform.. Sorry, my Chinese is poor.. In the article from Lianhe Wanbao, what happen? Why the 8 nan nv file police report... My guess:
1. Is their gold not returned back upon "3-day parking" as promised?
2. Or, gold returned after parking, but no discount payment afterwards?
3. Or, gold returned, discount paid, but disatisfied coz it was delayed?

Thank you for sharing.

 

[climber99]

Geez, I hope they can be raid soon, or else many ppl suffer

So what can they be raided for? As in legally, what are the infractions they have now that a warrant of arrest can be issued. Some ppl here say make police report, some say report CASE.

Given that they are not regulated by MAS and so no need follow MAS regulations for financial institutions.

Cos if there is something concrete then the affected ppl know their course of action ma. If not they dun even know what law protects them in this case.

 

[Lucy1324]

Well Said... at the end of the day, people in this forum can read the truth and see the fact... Not by guessing... (sigh.. waste gas)

You have been warned!