Scam


GennevaOn the 1st of October 2012, Genneva Gold raided by both the authorities in Malaysia and Singapore for suspected offences including illegal deposit taking, money laundering, tax evasion and avoidance, false description (misrepresentations), appointment of agents without licence, and failing to lodge statutory documents.

Soon after, there are a lot of comments and denial by Genneva Gold customers & consultants (agents), and they start to blame the authorities. They are even set up Genneva Support Group on Facebook. In the group, there was a comment made by Richard Chew who clearly explained the scam and the flaw on Genneva business. Unfortunately, the comment was deleted within a few minutes.

I like to share his comment so that everyone understands the reason why Genneve Gold is indeed a scam. Read on his comments below,

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I believe most of you know that we are eligible to withdraw EPF or KWSP money from account II for the purpose on buying new house or reducing loan amount or monthly loan repayment. I believe this is great facility offered by EPF.

However, I am shock when I come across an article where someone claim that EPF scam us if we withdraw money from Account II for monthly housing loan repayment.

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Swisscash

As per my post earlier regarding refund to the victims, if you one of them you have to act now in order to get at least part of your money that loss through swisscash investment scam. You have until 7pm, 10th February 2010 Malaysian  time to submit your claim.

Big thanks to Securities Commission (SC) as they have been putting a lot of afford to ensure the victims at least get back some of their money. I hope the victims and other general public should learn the lesson and not to involve in scam investments.

As mentioned earlier PricewaterhouseCoopers Advisory Services is the administrator to manage the restoration process for eligible investors.  They have setup the procedure on how to make the claim. Every claim must be using proper Statutory Declaration as to Proof of Claim Form.

Every submission should include the following:

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Swisscash

Following the Securities Commision (SC) success to bring back RM31 million from the Swisscash Investment scam last November, SC has appointed PricewaterhouseCoopers Advisory Services Sdn Bhd as the administrator to manage the restoration process for eligible investors.

Within this week, PricewaterhouseCoopers Advisory Services will be issuing notices calling for claims from claimants and the detailed format and supporting documents required.

The notices will appear on the PricewaterhouseCoopers Advisory Services website and major newspapers, namely Berita Harian, Malaysia Nanban, News Straits Times, The Borneo Post, The Star, Sin Chew Daily and Utusan Malaysia.

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Swisscash

After more than 3 years of investigation, finally Security Commission (SC) manage to obtain RM31 million from Swisscash investment scam. The money will be used to restitute eligible investors who have suffered losses as a result of the scam.

The restitution will be based on a court sanctioned distribution plan. Once the court’s approval has been obtained, the SC will appoint an administrator to manage the processing of the claims. The first batch of restitution will be made early next year.

To be eligible for compensation, Swisscash investors must produce some documentary evidence of their investments. The documents are in the form of Telegraphic transfer, bank transfer or internet banking transfer slip make to the Swisscash.

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