Genneva gold in happier times

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Video clips show a couple of familiar guests gracing the events of the gold trading company that is now being probed by Bank Negara.

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KOP
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KOP
unique
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unique

human nature no one to be blamed except yourself, due to greed, based on the high return, it should know it is a scam. this story is similar to the biggest scam in hongkong happened in 1999 and 2000, all the investors put on riot asked government to unfreezed the bank accounts.

ariel
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ariel

Newsclip in Mandarin in Singapore TCS 8 reporting on Genneva Gold on 27 Sept 2012, 6.30pm. Subtitles in Chinese. Some interviews in English:

Sheikh
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Sheikh

Visit this facebook to understand what is it all about and how thousands of citizens are in a dilemma now due to their gold being taken away by BNM right in front of their own eyes even though they were already tagged with buyers names which rightfully does not belong to the company but are to be given to the customers.
https://www.facebook.com/GennevaMalaysiaSupporters

zzz
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zzz

isn’t this a disguised form of deposit taking?

peng
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Caveat Emptor, let the buyer beware…
The buyer is responsible for knowing his rights and protecting himself, The buyer takes the risk – is a fundamental principle of commerce..
But sellers share responsibility for providing sound advice, and transparent information to buyers – when this falls short, it becomes a scam?

lizziewong
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lizziewong

who is behind geneva gold?

Kevin
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Kevin

I don’t think it is possible for the govt to control gold prices. Just like commodities, the price fluctuates significantly. Selling gold is not wrong as long as it is done on a willing buyer basis and I am not accusing them of illegal activities or cheating but what is suspicious to me is the high-returns given. If what is reported is true they must be the best investment bankers or fund managers in the world. We do not know anything because no information has been released to the public. Even if you ppl can’t trust the local agencies to… Read more »

Suhaimi
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Suhaimi

Apparently Dr. Mahathir encouraged malays to invest in Genneva as reported in Utusan on 18/12/2010:

Looks like he endorsed Genneva?

http://www.utusan.com.my/utusan/info.asp?y=2010&dt=1218&pub=Utusan_Malaysia&sec=Dalam_Negeri&pg=dn_10.htm

Mark
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Mark

The controversy of Genneva started because gold price is not regulated by the govt. For your info,the price of gold varies between prices quoted by the gold merchant association and the commercial banks.Both these follow closely to the internationally traded price.
Gold trading or investing is simply buying gold at a certain price and betting it to appreciate sometime in future for capital gain.
Anyone can start a company and start to sell gold at their determined price(since it is not regulated) and do innovative ways to attract customers to invest in their business.

Jong
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Jong

I guess His Majesty Yang di-Pertuan Agong knew it’s best he stayed away from the launch, no?

Sean
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What is the function of the word “Syariah” on the logo? I can think of a cynical explanation, just wondered if there was a sincere one – sincere to you or to them.

Stunning videos – like a modern interpretation of Inferno. Is that the fourth, eight or ninth circle?