Sifu Hanz079, dun u think the recent raid was politically motivated?
What's make u think this got to do with politics?
Genneva did well n will continue to do well for sure...
B4 the raid...
Y?
Bcoz they paying all their customer...
They can afford to pay as long as
1. Gold price go up
Or
2. Their customer base growth...
But I doubt they are genuine gold seller
With guaranttee return of 2% a month...
One yr compounding + overhead + sales agent commission + margin
They need gold price to increase more than 30% to sustain
In reality, nothing go up every yr > 30%
According the some expert, if they didnt do money laundering...
Looking at their business model, it's hard to proof them wrong...
They sell price above market but with guaranttee return n they pay their customer as promise
Shd b no case until they run!!!
But if bank negara can proof they try to fraud by
- their account is loosing money, with the high guaranteed return scheme they offered... N they still continue to growth their business this way n using future money to pay... They BNegara may b able to proof a point... But not strong though
N they can escape by saying... I like to loose money... My strategy mah... After killing my competitor only I cut down the promise return cannot meh?
Or he said my advisor said gold price will go up 50% next yr n I trust him...