Was Genneva Gold Investment Scheme Scam

August 30, 2021

Jul 30 2020 547 pm SGT SINGAPORE - The former general manager of Genneva a gold investment company which owed its customers gold bars worth almost 45 million in total was sentenced to 56. Well we started off with very casual conversation from politic to investment.

Finance Malaysia Blogspot Was Genneva Gold Investment Scheme A Scam

According to the charge sheet GMSB Tan Lim Ng Jit Meng and Ahmad Khairuddin were charged.

Was genneva gold investment scheme scam. Lately I have a long-lost friend calling me out for a drink. Fahmi said several thousand investors are said to have purchased gold bars or gold wafers from Genneva which was actively involved in buying and selling the precious metal. Genneva Malaysia Sdn Bhd the Malaysian company behind the illegal gold investment pyramid scheme back in 2013 has been found guilty of money laundering and illegal deposit taking in the High Court today.

Lately I have a long-lost friend calling me out for a drink. The problem Genneva Malaysias liabilities exceeded its assets. In order to make they scam works.

In his decision he found that all of them were involved in illegal deposit-taking schemes related to gold investment. Genneva was careful not to collect deposits from investors as this action. The bars were sold to investors at a.

Once my hot button was pressed he share with me the Genneva. In short its easier to move around gold than hold a rally in this country. Genneva Singapore have cheated many of its clients money and gold.

Some of the key officials of its Malaysian branch are currently facing charges for illegal deposit-taking of more than RM100 million. The offices of Genneva Gold which had operated a gold investment scheme in Singapore and Malaysia were raided by the Commercial Affairs Department of Singapore and Bank Negara Malaysia in 2012. Two men have been arrested for their suspected involvement in a multi-million dollar gold investment scam the police said on Tuesday Feb 26.

These schemes usually collapse on themselves when the new investments stop The other damaging perception is that GMs operation is a Pyramid Scheme. Clients goldbarstotal reported-500kgwere taken and were not return in the month of September 2012Customers gold were returned for sellback but receive only payment vouchers. Yes investment is my all-time favorite topic and he knew it.

BNM had used the same series of charges on the serial scammers after the raid on Genneva Sdn Bhd on 21072009 and despite the fact that the Park-in is a blazen deposit taking where money is paid but no goods delivered the court had seen it fit to dismiss the charges. Was Genneva Gold Investment Scheme a Scam. That was what Awang Adek Hussin Malaysia Deputy Finance Minister claimed couple of.

Well we started off with very casual conversation from politic to investment. Without hesitation I am more than happy to meet up with him a successful businessman. Without hesitation I am more than happy to meet up with him a successful businessman.

The suspects were arrested. Once my hot button was pressed he share with me the Genneva. Genneva had robbed its customers gold.

Interestingly according to the gold exemption order 1986 any Tom and his cat can hold borrow lend buy sell or export gold without contravening any laws. Genneva HQ based in KL Malaysia using politician royalties name to boost your confidence to buy gold. Genneva clients and consultants moneydiscountcommission were not paid.

Was Genneva Gold Investment Scheme a Scam. As explained people greed is difficult to diffuse. Genneva Gold Scam.

In one of the schemes. A s many as 35000 investors and up to a whopping RM10 billion of investment were sucked into Genneva Malaysia Gold Scheme. This scam actually yields the promised returns to earlier investors as long as there are more new investors.

Ahmad Shahrir however allowed their applications for a stay of execution pending appeal at the Court of Appeal and granted bails of between RM100000 and RM1 million. Yesterday it is more of the same in the various courts. Genneva brilliantly plays in a grey unregulated area gold trading.

Wasted my an hour and half to listen to people try to tell me how good is the Genneva gold. The Ponzi scheme generates returns for older investors by acquiring new investors. The Gold Label TGL which sold physical gold bars under a buyback scheme was investigated by the Commercial Affairs Department.

Yes investment is my all-time favorite topic and he knew it. There is a price to pay for scamming people. After listening to the person explaining how they have earned so much money and the guarantee return of investment I have nothing to add but to say a prayer to these people.

Genneva Gold Another Collapsing Ponzi Scam Financetwitter

Kuching Jjptr Or Jj Poor To Rich One Of The Biggest Money Games In The Country Has Collapsed According To Oriental Money Games Game Over Community Business

5 Investment Companies That Vanished With Millions What To Invest In Singapore Investment Companies Investing Company

Exclusive Xm One Of Cyprus Largest Brokers Has Chinese Office Raided And Emptied By Police For Non Payment To Custome Technical Analysis Investing Time News

Blue Streak Daily On Twitter Singapore Banking Headed

China S Biggest Underground Banking Case Cracked Finance Magnates Offshore Bank Banking Offshore

Genneva Malaysia Supporters Genneva Freeze Not Fair To Investors Says Tun Dr M Latest Update The Wall Http Fb Com Gennevamalaysiasupporters Like Blog Http Gms101 Wordpress Com Former Prime Minister Tun Dr Mahathir

Genneva Gold Another Collapsing Ponzi Scam Financetwitter