How to Get Back Your Genneva Gold and Money ??
As many as 35,000 investors and up to a whopping
RM10 billion
of investment were sucked into Genneva Malaysia Gold Scheme. The
problem – Genneva Malaysia’s liabilities exceeded its assets. That was
what Awang Adek Hussin, Malaysia Deputy Finance Minister, claimed couple
of days ago. Considering PM Najib Razak is the Finance Minister
himself, this statement from his deputy was perhaps the closest one can
get from Bank Negara’s (Central Bank) investigation after their raid.
However, one of Genneva Malaysia’s traders claimed the company has some
60,000 customers with monthly turnover of RM2 billion. On the other
hand, Geneva Malaysia’s website boast 50,000 customers and a turnover of
RM3 billion.
Whether these gold investors (or rather traders as what Genneva diehard
fans would like to be known) actually poured merely RM30,000 or as high
as RM285,000 each into the scheme is immaterial. The fact is most of
these investors
emptied their life savings believing Genneva scheme
was a revolutionary and innovative business model – a blue ocean
business strategy that could easily put McDonald and Apple Inc. business
model to shame. Naturally, these street-smart Gennevarians cried foul
and ran amok when their golden goose was slaughtered – by the
authorities. They are crying for blood and refuse to wake up from their
slumberland.
They are upset the Central Bank took away their cash cow. They are
furious they cannot milk their golden cow anymore. They would curse and
whack you till kingdom come for suggesting Genneva Gold scheme was
actually a brilliant and sophisticated Ponzi scheme. They are crying
because their children, parents, grandma, kitten, hamster, goldfish and
whatnot are dying because they can’t afford the medicine after the
Central Bank robbed their gold and monthly Hibah gift money. They are
suggesting jealousy and
cooking up tons of conspiracy theories
as being the motive because Genneva was so successful that the
company’s gold bullion could easily dwarf the Central Bank’s reserves
(*woohoo*). In short, it’s everyone’s fault but theirs.