GEORGE TOWN: Housewife Resool Yusof Gani is praying that the authorities will allow Genneva Malaysia Sdn Bhd to resume its gold business.
The 41-year-old mother of three said she had been left with no income following the raid on the firm by government agencies.
“Whatever money I have has been invested in the gold trade,” she said at a press conference at the company's regional office here.
Resool said she invested RM200,000 to buy gold from Genneva three months ago.
“I'm worried that I will be unable to feed my children,” she said.
Another housewife, Nor Diana Nasaruddin, 31, said she also invested RM200,000 two years ago.
“I also introduced the scheme to my friends. I don't know how to explain the situation to them now,” she said.
Dr Khoo Kong Jong, 58, said he invested RM400,000 in Genneva a year ago since it had a good reputation.
“I receive an average return of RM8,000 monthly. The money is used to fund my son's tertiary education in London. He needs almost RM20,000 every month.
“I have another daughter who just enrolled in a college in Kuala Lumpur,” said Dr Khoo, who runs a private clinic.
MCA Public Services and Complaints Department chief Datuk Seri Michael Chong said he almost invested in Genneva Malaysia Sdn Bhd too.
He said he was having bak kut teh with two friends two months ago when one of them told him about the gold trading scheme.
“He said he heard about it from another friend. It sounded like a good deal and I was very excited,” said Chong in an interview.
However, the friend who recommended the scheme later changed his mind.
“He said the deal sounds too good to be true and told us to hold onto our money,” said Chong.
He hoped people would be careful before investing in similar schemes.
“The more returns they promise, the more careful you should be,” he said.
“I think I should also thank my wife who is the one controlling my money.”
Investors form Genneva support group on FB
PETALING JAYA: Angered by raids at the offices of gold trading firm Genneva Malaysia Sdn Bhd, investors have taken to Facebook to form a support group.
The “Genneva Malaysia Supporters” was set up on Monday, on the same day Bank Negara (BNM) officials led a multi-agency crackdown at the company's offices.
The Facebook page has since attracted close to 500 “likes” at press time.
Consultants and customers were still generally supportive of the company and its investment schemes.
The Facebook page's administrator wrote on Tuesday calling Genneva's “profit sharing platform” a godsend to the 60,000 consultants and customers.
The administrator also said they would hold a march to Putrajaya to appeal to the Prime Minister to unfreeze the bank accounts of Genneva so that they could retrieve their investments.
They also want the Government to remove the company name from the central bank's Financial Consumer Alert List. However, others appealed for calm and asked them not to demonstrate.
“Please hold on, please be patient. We have to wait for Genneva Malaysia's management to advise us,” wrote May Wong.
“Don't march, let BNM complete their investigations,” wrote Horace Wong.
Genneva Malaysia management wrote on their Facebook page acknowledging the support by their customers.
“Our team of experts are working hard, looking into all possibilities. We must stand hand in hand, support each other, stay calm and allow our expert team to handle this issue,” it said.
Group: Action taken by Bank Negara on Genneva could be a misunderstanding