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.
How to Get Back Your Genneva Gold and Money – 10 Things To Do