Lately, I have a long-lost friend calling me out for a drink. Without hesitation, I am more than happy to meet up with him, a successful businessman. Well, we started off with very casual conversation from politic to investment. Yes, investment is my all-time favorite topic and he knew it. Once my hot button was pressed, he share with me the Genneva Gold Investment Scheme.
With its headquarter situated at Kuchai Entrepreneurs Park, Genneva has evolved to become one of the leading and most innovative gold traders in Malaysia and neighboring countries. What I want to stress here is INNOVATIVE. Why? Please read on...
About the Scheme
Through Genneva's unique wealth sharing platform, you are not only the owner of the gold bullion in hand, you also will get 1.8-2.5% cash return (hibah) every month for 3 months under Genneva's Syariah principle-based product plan. (see picture below)
It is similar to placing your savings in Fixed Deposit. Whether the price of gold goes up or down, your capital is 100% protected with an annualized return of 21.6-30.0%. Whilst if you placed your money into fixed deposit, which only gives you around 3% per year, which one is better? In addition, at the end of each tenure (4 months), you can return the Gold Bullion at the SAME price that you bought the gold. This means a 100% capital protection and guaranteed above 20% return.
WOW. Amazing, fantastic, unbelievable, right? Wait.................................
As an investor, we always reminded that be careful on whatever schemes that promise to gives us high return. Some more, there is NO risk at all in this case. Without rushing for a deal, I search through their website and read some forums on the scheme. It was stated that the company has complied with BAFIA 1989 act and AMLA 2001 act in its website. However, forums are hot in this topic with many people commenting that it was a scam and many Genneva-friendly people refuted their claims. Which side was correct?
Here, Finance Malaysia would like to gather public opinions and comments. Whether you like it or not, it's up to you to judge and decide. For many people, they would rather refrained from entering into this scheme. Why?
- The return is too good to be true. Minimum of 21.6% annualized return, some more it is Guaranteed!!! How Genneva going to guaranteed such attractive return?
- Can Genneva generate better return from other investment using the capital? (Better than Warren Buffett?) If not, the business model for sure will fail and it's a scam...
- Some said Genneva sell gold at a rate more than 20% above market price? Some claims that this is Genneva's admin and processing costs. If that's true, Genneva is making huge profit from us then giving us back the said hibah. Why invest then?
- Yes. You can get the physical gold bullion after 4 months. But, how are you going to store it? Investors should look at the cost of holding gold bullion too. That is investment expenses which will eat into the return.
- Who is going to certify that the gold bullion was genuine?
I know how it works. I am in the similar industry, and i also wonder how Geneva can make this happen. After few months of investigation and deep consideration on the possibility of such investment, i conclude that this business is genuine and such business idea must be came out from a genius too!
ReplyDeleteI am also would like to set up one similar company since the risk vs reward for such business is very low!
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DeleteThis comment has been removed by the author.
Deletekeling penipu
Deletepenipu..dosa tanggung di akhirat
DeleteOWNER SENDIRI BAGI KOMEN
ReplyDeletePerhaps this program does not suit to everbody. Those who are dare to take the challenge, for sure will go a head. 1 thing for sure, there are lots of people became richer and enjoy their better lifestyle with Genneva. People who will always wait n see, can always do so...
ReplyDeleteNow really wait. Wait for the news
Deleteto all investor,
ReplyDeletethis GENNEVA A 888 A bus is TO GOOD TO BE TRUE over take they are mistek for gold wait so long, payment a bit late, q so long but a lot stil people want to invest? How can like that? i think this all investor ( TOU KAK PAi Lio), NO, they are very careful investor to put the money in Right Way N Right Company ( GENNEVA), Risk happen every where ,compair F/D & gold,if happen F/D bankrup do u think yr money will get back, anser is yes but when? if u invest in gold (Genneva)if world economi in bad time, u still ketawa ha ha ha lucky i buy gold in hand becouse gold price up. Now u see this picture ///???
Think & thing...
PEOPLE SAY YES U MUST SEE
PEOPLE SAY NO U MUST KNOW
PEOPLE BUYING U SAID SCAM
PEOPLE GET RICH U STILL SAME.
fr Jamesong
Jamesong. You made me laughed. Good one
DeleteThis comment has been removed by the author.
DeleteJamesong, i sure u dun know why gold price will rise whn economic recession.. for me, u just a follower but not an investor...
Deleteone more thing for u..google translate is FOC..
Jamesong, you r a real joker. Ur word made me laugh. Did you realise the latest new ? If yes then i guess u will change ur idea and perceptions as in " too good to b true " is real. Remember. ;)
DeleteAnon@21 Sept: Gold price goes up in recession because gold is a "safe haven" for investors when they are uncertain about the market. That's why gold went up during the financial crisis.
DeleteBut this still looks like a scam...
hi, saya mengucapkan taniah kepada Genneva
ReplyDeleteMalaysia mengunakan SYARIAH dan mematuhi syarat
syaratnya untuk jual beli Emas.
Ramai orang mengatakan Genneva Malaysia adalah
scam, disini saya hendak menyatakan Genneva
Malaysia sebuah syarikat yang
ungul,mantap,bersistem berpengalaman luas dalam
bidang Emas ,mereka juga membuka cawangan di
SINGAPORE,INDONESIA,FILIPINA,CHINA,dan akan
bercadang di lain negara.
Berfikirlah sebelum mengatakan,
merasalah setelah memahami,
memahami dan seterusnya mempunyai.
Gembira dan senang hati setiap hari.
http://www.e-fatwa.gov.my/fatwa-kebangsaan/hukum-jual-beli-dan-pelaburan-emas-yang-dijalankan-oleh-syarikat-genneva-malaysia-s
DeleteApanya yg syariah oiii...? Sila berhenti menyebar fahaman palsu. Dah la sepatutnya hibah tu berdasarkan keuntungan yg diperoleh, tapi ni dah bole fix pulak pulangan dia. Kat situ pun kita tau menipunya the so call syariah.
Deletehahahahha, terbukti syarikat penipu.front page utusan
DeleteSaya dah masuk selama 5 bulan. So far so good.
ReplyDeleteBOUT VGMC....
DeleteVirgin Gold Mining Corporation....
•Since 1999
•Registered in Panama (International Offshore Tax-Free)
•Focus Investment in Gold Mining Company
•Operates in parts of Africa and South America
•VGMC Offers Convertible Preferred Stocks (CPS)
•CPS started 1st January 2010 to private Investor for Global Market
•Offers 5 Billion Share to Global Market
•Target Launching Initial Public Offering (IPO) by year 2015
•Minimum Share is 2000 Units and Maximum is 999,999 Units
•Start Value USD 0.80 / Units – Now is USD 1.70 / Units
•Shareholders may Transfer their shares to another willing buyer at a Higher Price
• or Unsubscribe their Shares by giving 45 Day’s Notice to the Company
For more info visit my website
www.setiaberjaya.blogspot.com
Scam, scam, scram! Better run before this ponzi scheme collapses.
ReplyDeleteSaya rasa ada salah faham disini. Saya dah lama trade gold dan terbukti ia bukan scam. boleh layari web ni kalo xcaya: www.lombongvgmc.com sume bukti ada dinyatakan di situ.
ReplyDeleteI was introduced to genneva gold trading 4 years ago by my sister in law and as most people I was very skeptical about the seem too good to be true concept. After some 4 years my sister in law who is now a six figure earner again approaches me. this time I took the trouble to investigate the company even writing to BNM. Finally I also became the consultant. At the moment I enjoy all the benefits as claimed by genneva. My only regret is not starting 4 years ago. anyway better late than never. Interested? if I live in seremban contact Johnsonho 0133761914
ReplyDeleteDear brother, don't advertise your service here or any other website. Don't you know that Genneva prohibits any their consultants to put their contact nos, have personal websites that advertise their service? Someone might report you to genneva and you may be terminated. All hardwork and $$$ gone. So take this as a friendly reminder. Cheers
DeleteJohnsonho, your days are about to be numbered. U have been informed. Don' blame the authorities when the time comes... All i can say is, it's really soon...
DeleteThis comment has been removed by the author.
DeleteIf the gomen decides to charge con-sultants of Genneva gold investment, then got to build a new prison to house all these con-sultants.
Deletegenneva to good to be true. after 6 month ...,
ReplyDelete75% of my to good to be true friend buy genneva
25% see and wait for to good to be true?????
JANGAN TAMAK BELI SIKIT SIKIT JATUH TAK SAKIT
JIKA ADA BELI KOW KOW MASUK PUN KOW KOW
KALAU TAKUT JANGAN CAKAP TIPU,
KALAU BETUL MALU SENDIRI.
Can this save us and euro from debt crisis?
ReplyDeletehttp://www.utusan.com.my/utusan/Ekonomi/20120801/ek_02/77-syarikat-pelaburan-tidak-sah
ReplyDeleteBEWARE! Quit before its too late..
http://www.facebook.com/photo.php?fbid=4006991165702&set=at.3411863447881.149145.1008848368.15509416&type=1&theater
ReplyDeleteVGMC Gold investment month fixed dividend 10 - 15%
ReplyDeletefor more info kindly pls visit my blogspot www.setiaberjaya.blogspot.com
If you buy at higher price, even higher than normal market price, then if you want to sell back upon maturity, is there any company / individuals want to buy gold at the price you purchased????? sure you will give back to the company ma? ahaks
ReplyDeletehmmmmm...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...
ReplyDeletethen something's not right somewhere...
Deletehttp://www.publicgoldsarawak.com/ver2/2012/08/01/77-syarikat-pelaburan-tidak-sah-utusan-malaysia-182012/
ReplyDeleteJangan gadaikan masa depan kerana ketamakan. Hari serbuan makin dekat...
ReplyDeleteMake sure u see this: Gold Investment Malaysia
ReplyDeleteNot sure about this scheme, but my opinion is with every gold investment scheme, the IMPORTANT thing is u keep the PHYSICAL GOLD.
So that Even if the company collapse etc., u can still sell back elsewhere and recover 80% (assuming gold price stayed constant- tho it has actually risen over time)
Try to verify the source of the gold, get the certificate and ask the dealer to do an Assaying/Density test in front of u if possible.
My friend knows all the insider tips and he has a website to explain- Buy Gold In Malaysia
You should connect with him to learn more coz he taught me a lot.
Regards, Wah
Buy Gold In Malaysia
ReplyDeleteWatch this video to learn more =)
Buy Gold In Malaysia
ReplyDeleteWatch this video to learn more =)
Studied the scheme. Wonder why investors are so happy? They sell you 20% above market price, they use the margin to: i) pay their agents commission ii) you the hibah and iii) still have a spread for their profit
ReplyDeleteBasically, this has been working because gold price has been going up. If gold price crashes so will this scheme. Do you think the company will (as promised) buy back the gold from you at the price you got it from them if the gold price collapses say 40% or more. That's clearly a big NO. So investors just "Syiok sendiri", paying themselves while the music plays on (price of gold still rising). They take comfort of physical possession of the metal, perhaps they will not lose all their money but risk is there. I also see those who have been getting "good returns", to plough in more and more of their money driven by greed (yes the same old desire than have time and time again ruined the lives of millions). That's where the danger lies. So folks, my advice is to just invest what you can afford to lose. The question is can you tame your greed?
I have studied the actual contract, they sell at least 20-30% above spot gold price, but when you sell back to you, they only guarantee buy back at spot gold price, not at retail price. That means whenever the scheme collapse, they are only legally bound to buy back at spot gold price (20-30% loss), might even be more depending on how much spot gold price drops to. Even the agents themself dont read the contract fine print in details, and simply say that they will buy back at original retail price. This is a scheme that is waiting to explode in your own face.
ReplyDeleteAgree with TK and Gary.1) You pay 20-30% more for the gold. I think many people dont do this comparison. 2) It does not make sense to give Genneva the upfront(20- 30%) lum sum hibah money so they can pay you monthly (shiok sendiri). 3)This scheme works as long as very few people return their gold to Genneva. If most people return their gold for cash, I think they may have a hard time staying solvent or they may pay you at significantly lower price than the prevailing market price, with you incurring the capital loss.
ReplyDeleteYou buy the gold at $10,000 and if you sell in the retail immediately, it may be $8,000. 3 months later, the gold may cost $11,000 to buy but gets only $9000 if sold. So you think you have the gold that is worth $11,000 and if Genneva agrees to buy back after 3 months at $10,000 you may think it is not worth selling, so you choose to keep the gold. Henceforth, Genneva will not be bounded to buy back from you any more and Genneva would have profited $2000. If you want to buy some more, Genneva will now sell you at $11,000. The trick is that the selling and buying prices have a huge difference and as long as gold fluctuates within this 20%, there will always be buyers who will keep the gold, hence Genneva will always make a profit. There are other similar schemes with a buy back period of 1 month and if you choose not to sell back, the agreement is automatically terminated and the gold is yours while the profit is theirs. Many will choose not to sell back because the buying price is higher and they essentially have to pay more to keep that same piece of gold; and this psychology will make many to keep the gold. This is a scam to sell you something you don't need at a marked up price.
ReplyDeleteIf you buy gold elsewhere you get 25% more, which effectively is a "hibah" of 25% immediately. When price goes up by say 20% in 2 years' time ( a high probability ) you will make 50% gross profit. Your net profit would be about 45% after deducting 5% sell back spread. The chances are gold price will rise by more than 20% in 2 years' time and you will make more.
ReplyDeleteAs long as gold price going up, the risk will reduce. If we look through the history of gold price for 5 years, gold have risen for up to 150% so annually increased by at least 25% to 40%. The customer who choose Genneva Malaysia to buy their product, and get profit of at least 18% to 24% annually. I think it is reasonable, and some more Genneva malaysia have large trading volume, Genneva Malaysia should have at least few percents of profits from those trading volume. I would to advise for customer who really have doubts on the whole system of Genneva Malaysia, please do find the consultants
ReplyDeleteGenneva Singapore is having big trouble. Genneva Singapore owes its investor more than 2 months discount. Gold sold back for more than 1 months, investors did not get back the money. Gold surrender for renewal for more than 10 days, investors still cannot get back the gold(eventhough the timeline was 3 working days). Cash & Gold in Genneva Singapore has dried up.
ReplyDeleteIts a ponzi lah. Plain and simple
ReplyDeleteWarning to all !!!
ReplyDeletesaw this and want to alert all those who has bought Genneva everywhere..
Genneva is in big trouble. Agents not getting commission and customers are suing the company.
The Singapore business times posted an article about customer suing Genneva and won.
Just saw this on Singapore TV and its now on Youtube
ReplyDeletehttp://www.youtube.com/watch?v=6D0d9IyKHTc
The victims in Singapore are banding together to file a class action suit.
ReplyDeleteSome are without money AND gold.... sad case.
http://forums.hardwarezone.com.sg/money-mind-210/genneva-singapore-complain-group-3861349.html
hurm...I love this blog even more! All papers today is HOT with Genneva office kena raid...
ReplyDeleteA freind intro Genneva scheme to me earlier this year. After few minutes of brief introduction, I've concluded its another scam in town. I just wonder, why it take so long for this scam to explode...
ReplyDeleteThe 1st time my friend told me I knew it was a scam. You cannot have such high "guaranteed" returns without any risk. Its not regulated or guaranteed by MAS like the bank deposits. They basically sell gold at a 20-25% premium to spot price and then give you back your own money!! The only reason why this scam worked till now is :
ReplyDelete1. Gold prices are going up. If it goes down how can they guarantee original price? Do they have a printing press?
2. There has been no run on the company yet i.e. ppl are not rushing to liquidate their gold.. if they do, this company would have no money
Surprising so many ppl fall for it even though it doesn't make business sense. Remember you might have made profits but it was not necessarily legal.. that's the difference
wonder those who said all the good thing about geneva, what is your comment now?
ReplyDeleteFinally D day has come!
ReplyDeleteLadies and Gentlemen, let wait and see the result of investigation.
ReplyDeleteIf Genneva is so good, your capital and interest is guarantee, why worry? Those ivestors not need to argue how good it is Genneva, and not need to Q up at Genneva office. Just let the authorities to do their work, at least the authorities is audit for you, moreover you not need to pay the audit fees. If the authorities is not right, sue them, what to worry. Our government have tons of money to compensate you, if they are wrong.
My personal opinion, if I invested in it, I am ever ready to write it off. That is my risk, and I accounted my risk. And I foresee, 99.99% Genneva not able to return my capital.
this Genneva's investment plan is all scam in the 1st place. The authorities raided them becos they have collected enough evidence not simply doing so or misunderstanding.Be prepare to kiss goodbye to all the money invested.
ReplyDeleteIf the govt did not return their money, it might turn out to be a social problem later bcos they are the victims. Law punishes the Seller and not the buyer.
ReplyDeleteVictims? maybe. But they are victims of their own greed and ignorance.
DeleteOne question we have not been asking, is who are those behind this scheme in the first place, have they escaped rich and left scapegoats to carry the "baby" ? Will they re-appear in a new scheme in the near future? More ghost than man these days....
ReplyDeleteThe greedy are finally in for a rude awakening. Condolences to your losses. Be smarter next time.
ReplyDeleteNo easy money. No fast return. Lesson learned. Invest gold in reputable finance companies such public bank, maybank, kuwait finance etc...buy physical gold from goldsmith shop & keep urself better...
ReplyDeleteGood News For all Genneva investors!!!
ReplyDeletegardenia bread has announce they have increase production in anticipation for the expected increase in demand from u guys. makan roti lor!!!
teruk lah you. those people kena kaw kaw already you laugh at them!!
Deleteif there is such a good investment scheme, everybody no need to work lor...
greed + stupidity = disaster
it is gold is true 99.99%
ReplyDeleteLooks like it's confirm scam. The directors already cabut. Only left the So call consultants and idiots still in denial mode. Bunch of fools
ReplyDeleteIf you are the director, you will also cabut. No need to insult them as fools or greedy. One way or another you also being deceived in other way but not realising it yet. GM is not a scam and is not Ponzi as many common people thought. Only the wise will know that this "AML" System. If the govt dont disturb them, all the Banks will collapse as investors will go to them, only fear will stop them. Almost every country practice Money Laundering. One good example you would know is Marcos. He is an individual, GM is a group of individuals who hope to blind the people with this free money. If the govt did not impose conditions, the rich would have apply for the RM500 "free noney" also. Do you call those getting RM500 greedy ? If yes, then the Giver is guilty of inflicting this sin. Some people have their needs to meet and only hope those free money can sustain their life but some is extra pocket money to enjoy life only. Gambling is illegal but why TOTO etc can operate but underground betting is illegal. See who is incharge.
DeleteWow... Thanks for all of your overwhelming comments here. What we highlighted in this post finally turned out to be an unfortunate event for Genneva investors.
ReplyDeleteWe had encounter some other investment schemes that were suspicious. Let's us find out more before commenting. Stay tune!!!
Org bodoh jer yg invest. That's the conclusion.
ReplyDeleteJust came across this blog. Amazing story. Yes you can make this kind of returns, and better, if you know how to trade FOREX, though nothing is guaranteed in this world. This gold story is just a clever scheme because everyone knows what gold is and has, at one time or another, handled the physical commodity. It has value that is determined by market forces, certainly not fixed like in this GM scheme. Ever observed the gold price fluctuate at the goldsmith outlets? Too bad for the GM investors. It was "good" while it lasted. GM told their story well and many believed. The greedy had sunk more money than they should into the scheme. I pity the innocent and hopefuls. The BNM raid actually "saved" the schemers, designers and operators of GM.
ReplyDelete