Problems with Genneva Payout

[stargazer008]

Guys,

My advice: do not go for destructive test to determine if your gold is real or not, unless you need cash urgently and want to sell the gold. If you have the option, hold out for a while as the global gold prices are going up.

Also, as Genneva is a hot topic now, the pawnshops will like make a killing off you if you are to sell your gold now. I would rather wait for few months till the cry has subsided.

 

[cynthiateoteo]

Ya, I agree. Gold prices are heading north now. Wait a while before selling.

Actually the agents should have know this is coming SOON.....yet they did not advice their clients not to park their gold with Geneva?

Anyway, anyone have their gold dotted and tested if the gold is real?

 

[bearbearfury]

I am also worried the.purity of genneva produced gold. damm sian.

 

[stargazer008]

I am also worried the.purity of genneva produced gold. damm sian.

You are not alone. Bro. Cheer up.

 

[stargazer008]

Ya, I agree. Gold prices are heading north now. Wait a while before selling.

Actually the agents should have know this is coming SOON.....yet they did not advice their clients not to park their gold with Geneva?

Anyway, anyone have their gold dotted and tested if the gold is real?

Yes, if as agents they did not receive comms for 6 mths, this would have sounded alarms ringing as this is indication of cash flow problem. To be frank, if I know of this, I would have sell-back immediately.

And the worse thing is if the agent is your friend, this shows your friend is taking priority on $$ over your frenship. M

 

[climber99]

So with APB and GG on the alert list now, I guess we won't be hearing from some "regulars" in this thread anymore?

 

[mosaic1979]

Updates from my side. GV did return the gold back to me with 12 days delay back on 12th Sept. Same happen for a friend of mine as well. New gold i gave them last Thursday 20th Sept they promised to return Thursday 4th Oct. I am waiting and hoping now. They told it will take 10 days only after i deposited with them the gold. Before that was only left with the impression it was 3 working days.I will give update on the 4th Oct again.

Wah lao can t believe it still got people want to park their gold back with the company. Can t you see the pack of cards is starting to fall slowly...

Imagine today you walk into a bank and say want to take out your fixed deposit, but bank say sorry have to wait till next week than can, surely alarm bells will go off.

 

[Paramis]

Yes, if as agents they did not receive comms for 6 mths, this would have sounded alarms ringing as this is indication of cash flow problem. To be frank, if I know of this, I would have sell-back immediately.

And the worse thing is if the agent is your friend, this shows your friend is taking priority on $$ over your frenship. M

i totally agree with you. my agent is part of my immediate family & she didnt say a word. what makes me very sad is in july 2012 she persuades me to buy 1 kg with 3% discount. told me to trust her. now she is singing another song.

 

[mosaic1979]

i totally agree with you. my agent is part of my immediate family & she didnt say a word. what makes me very sad is in july 2012 she persuades me to buy 1 kg with 3% discount. told me to trust her. now she is singing another song.

I ve said before, I think the agents should be taken to court as well. They ve earned outsized commissions from genneva, and some of them may have jumped shipped and are working in another gold company now. They can t be oblivious to the fact that the company is running into troubles.

It will act as a deterrent against working for these companies as well, and in the process help to prevent others from getting duped in the future.

Look at the MAS. They can only warn against such companies but can t act. The only time they can act is when the **** hits the fan, which is too late already. Lehman minibond holders can get some form of recourse, but investors in these products, unlikely able to. Investors have already been warned, but went in blinded by greed. So the main thing to do now is to take action against the entire ponzi machinery, and make sure it doesn t happen again.

 

[Paramis]

UOB don't buy back if it is not in the seal by UOB and if you have no receipt of purchase from UOB they will buy back - $100 if it is in the seal...No seal they won't buy back..Go call UOB and ask them yourself..If it is the Singapore lion head gold coin, should not have any problem selling in Singapore..

uob will deduct $300 n not $100. i just sold mine a few days ago.

 

[blurboiboi]

uob will deduct $300 n not $100. i just sold mine a few days ago.

No seal or no receipt??

 

[cynthiateoteo]

i totally agree with you. my agent is part of my immediate family & she didnt say a word. what makes me very sad is in july 2012 she persuades me to buy 1 kg with 3% discount. told me to trust her. now she is singing another song.

Ya, it is really kind of sad.....my agent is a friend. If he did sound out earlier, I would have sold back mine too. When the news broke, I ask if the company owe him commission, he did not dare to reply.....sigh. I am sure the company owe him commission but he hide this fact....He knew geneva is transferring asset to geneva world....I ask why? He say.....Geneva going for IPO !!!!!!

 

[makav31i]

No seal or no receipt??

UOB won't buy with no seal...

 

[makav31i]

uob will deduct $300 n not $100. i just sold mine a few days ago.

Are you referring to $300 minus their buy back price or $300 minus their selling price?

https://uniservices1.uobgroup.com/secure/online_rates/gold_and_silver_prices.jsp?keepThis=true&TB_iframe=true&width=560&height=400

What I am referring to is their buy back price minus $100 if no receipt provided... The selling and buy back price for the 1oz gold coins is $300 difference as when they sell, it is inclusive of 7% GST + the premium charged... No company sell physical gold at spot price..

 

[ZhaoYun22]

Hi people,

MY friend's boss had approached him & me to buy the uob gold from them under this genenva.

told me to invest 9400+ for 3months contract
den will get back around 192 per mth
for three months i will get back 192 *3 = 576
after that i can return the gold for 9400+ ( the purchased price)

he told me the gold is uob gold. confirm real 1 not other gold

is it adviseable to buy? as my friend already wan to buy liao.

kindly kind soul can pm me?

I hope is a good deal for him, as he told me his boss buy alot and been collecting the payout on time.

i still wondering wanted involve anot.

 

[makav31i]

Hi people,

MY friend's boss had approached him & me to buy the uob gold from them under thexpected genenva.

told me to invest 9400+ for 3months contract
den will get back around 192 per mth
for three months i will get back 192 *3 = 576
after that i can return the gold for 9400+ ( the purchased price)

he told me the gold is uob gold. confirm real 1 not other gold

is it adviseable to buy? as my friend already wan to buy liao.

kindly kind soul can pm me?

I hope is a good deal for him, as he told me his boss buy alot and been collecting the payout on time.

i still wondering wanted involve anot.

Do you even read all the post here before posting that or are you trolling...if you want to give away your money than by all means...

 

[ZhaoYun22]

Do you even read all the post here before posting that or are you trolling...if you want to give away your money than by all means...

bro i read.
but is there any different between the geneva gold & uob gold?

 

[remy3413]

One word to describe this, the ponzi scheme is failing

Those who do proper investment should know that getting a 24% return on gold annually is impossible.

Gold don't pay dividends, so how does genneva pay you 2% every month?

 

[makav31i]

Genneva gold in the LBMA list? UOB sell gold like PAMP which is in The LBMA list...So you want to buy from Genneva scheme even when people are saying they are not getting their monthly payment than by all means because you deserve to lose your money... Don't come back 1 month later that Genneva not paying because you clearly brought this upon yourself and no one force you to give them your money..

 

[mosaic1979]

Hi people,

MY friend's boss had approached him & me to buy the uob gold from them under this genenva.

told me to invest 9400+ for 3months contract
den will get back around 192 per mth
for three months i will get back 192 *3 = 576
after that i can return the gold for 9400+ ( the purchased price)

he told me the gold is uob gold. confirm real 1 not other gold

is it adviseable to buy? as my friend already wan to buy liao.

kindly kind soul can pm me?

I hope is a good deal for him, as he told me his boss buy alot and been collecting the payout on time.

i still wondering wanted involve anot.

hahaha. Sure since he's your friend s boss and he says its UOB gold, of course its real. Just go ahead buy lah. Don t think so much. You know you want that $192.00 a month. In fact if can try to double or triple up. We re only young once, nervemind if lose money can always earn back.