GENEVA pte ltd

[iFARKurMADER]

hi all,

recently one of my friend ask me buy gold from geneva.

say no matter how much i buy, every month i get 2% of the amount i paid for the gold.

some more, i get the physical gold that i paid for.

is this a scam? sounds too good to be true

anyone heard of this company b4?

 

[iFARKurMADER]

you pay for the full price of gold by weight and you only get 2% every month?

are you sure you are getting 99.9% gold when you get your 2%?

what kind of 66.6% are you?

why buy gold? it's at the peak.....the bubble will burst soon!

and that company will end up not only Farking you, UR MARDER, ur wife and your entire familee!!!!

i explain again. i pay say 100SGD, they give me 100SGD WORTH of PHYSICAL GOLD. I get the gold in my hands, on top of that, i still get 2% cash or physical gold.

is tat a bad deal?

 

[iFARKurMADER]

one word of advice...google 1 Timothy 6:10 for answer....

if its a scam, please tell me how the scam works leh, also help other brudders here dun fall into scam pls.

thanks

 

[redlightmeansgo]

Interesting to find a thread on this company. I know one of the guys from there. Always thought he's a bit strange, an opportunist who's always trying to slip in some sales talk when he's conversing with you.

I have always avoided his company (in every sense of the word), so I 'd tune out everytime he speaks.

yaduh yaduh yaduh, he thinks the whole world needs the golden advice that spills from his mouth.

The truth is, I don't trust the man, and neither should anyone the ware that he's peddling.

 

[cooleo]

If got such a good thing, why ppl wanna share with u? U must be a very nice person.

 

[commoner]

what you are saying is

example : you pay $100, you get $102 worth of gold: at the buying rate based on .....? and the selling rate should you want to sell is based on the rate of ..........? the time you pay and receive your physical gold is immediate? and exactly how they make money is none of your concern....

 

[ManSGP]

Seems like a new generation Ponzi Scheme to me. Having seen the likes of bucket shops, Ponzi Schemes, Timeshare, Pyramid Selling, etc. I wonder how much smarter can these conmen get.

How can they achieve it? Do a little reading on how insurance companies operate and you should be able to deduce the concept.

 

[shelltox]

$i think it is just a scam, monthly of 2% works out to 24% a year and that is too good to be true for a sleeping investor

 

[Leongsam]

i explain again. i pay say 100SGD, they give me 100SGD WORTH of PHYSICAL GOLD. I get the gold in my hands, on top of that, i still get 2% cash or physical gold.
is tat a bad deal?

Whether you make money or lose your pants all depends on your timing. If you make a fast buck and get out of the scheme quickly, you should be able to make a good return.

However, if greed takes over and your pour more and more of your hard earned money with the hope of retiring a rich man, you'll probably lose everything.

The returns are not sustainable and there will come a point where the scammers will take the money and run.

In my view, the scheme relies on the fact that only small percentage of people will actually demand physical gold once "trust" has been established. The majority will believe that every dollar invested is backed up with a dollar's worth of physical gold which, in all probability, is not the case.

 

[longbow]

Ask him if you can keep the physical gold in your own safe deposit box. Also make sure gold is delivered to you buy credible source.

But ask question 1 first.

hi all,

recently one of my friend ask me buy gold from geneva.

say no matter how much i buy, every month i get 2% of the amount i paid for the gold.

some more, i get the physical gold that i paid for.

is this a scam? sounds too good to be true

anyone heard of this company b4?

 

[balajii]

can you ask your that friend to lend you $XXX to buy that gold.

then to be fair to him, he can safekeep the gold for you until you return him the $XXX.

every month, you just collect the 2% from him. in 50months time, you use the interested collected to redeem your gold. then you continue to collect the 2% monthly thereafter.

like this can??

 

[iFARKurMADER]

Ask him if you can keep the physical gold in your own safe deposit box. Also make sure gold is delivered to you buy credible source.

But ask question 1 first.

he said before, I CAN KEEP THE PHYSICAL GOLD. buying price based on gold price of that day quoted by pawn shops, gold shops.

 

[joeosh]

Surprisingly, Geneva still survuve today...
Anyway i get to see this link while searching for Geneva's website.. Wonder did you purchase the gold at that time?
I can telll u more if u care to find out more... u can PM me at [email protected]

 

[QXD]

I've met these guys before. Tell them you are willing to buy, and you will take delivery on physical+essay cert. Then they pay you 2% every month.

See what happens, pure comedy will follow.

hi all,

recently one of my friend ask me buy gold from geneva.

say no matter how much i buy, every month i get 2% of the amount i paid for the gold.

some more, i get the physical gold that i paid for.

is this a scam? sounds too good to be true

anyone heard of this company b4?

 

[chuckyworld]

You need to ask can you take the gold for assay test before paying, is it hallmark and does it have a cert.

Singapore does have refinery, you can have it assay.

 

[fishbuff]

there is a 90 days time contractual timeline, and the gold that they sell to you is "future" gold prices which include a high mark up of e.g. 20%. say, the gold is 100SGD, you buy it at 120SGD which is the contract that you enter with them for the 90 days. And after the 90th day, you need to make the decision of whether to sell the gold back or keep. sell means you sell them back at the actual price after 90 days. 2% is based on the current price.

let say by the 90th day and the gold price went up to 140SGD, you will earn. if the price drop to $90SGD, you will lose on papers.
well, this is not significant but this friend of mine is doing it > $200,000. As for the company like this Geneva, they are ALWAYS selling gold with the intended price of 20% marked up in the future, and so they will always win.

 

[shelltox]

he said before, I CAN KEEP THE PHYSICAL GOLD. buying price based on gold price of that day quoted by pawn shops, gold shops.

Price of gold peg at pawn shop price or goldsmith price is way above market price of gold.by at 30%

 

[Suzie]

here is the correct company name :


Genneva Pte Ltd

Who we are We are one of Asia's largest independently run gold bullion trader. Our core business operation consists of: - gold coins and gold bullion trading
www.genneva.com.sg - Cached



Here is the Police Report and MAS Alert :



http://forums.fuckwarezone.com.sg/e...te-ltd-mas-investor-alert-list-3112869-2.html

 

[nitefly]

http://www.moneytalk.sg/2009/12/genneva-gold.html

 

[garlic]

If you physically hold the gold in your hand, how the heck you can get 2% from other parties when the gold is not in their hands for them to sell and trade to feed the 2% to you. Either you did not explain the mechanics well enough, or it is fraud... plain and simple.