Thursday October 4, 2012

Worried investors hope Genneva will be allowed to resume business soon

By KOW KWAN YEE and REGINA LEE
newsdesk@thestar.com.my

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.

<b>All that glitters:</b> Nor Diana (centre), her husband Arman Othman, 37, and Resool showing their gold bars during a press conference at Genneva Malaysia Sdn Bhd’s regional office in Jalan Tengku Kudin in Penang Wednesday.

All that glitters: Nor Diana (centre), her husband Arman Othman, 37, and Resool showing their gold bars during a press conference at Genneva Malaysia Sdn Bhd’s regional office in Jalan Tengku Kudin in Penang Wednesday.

“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.”

News

Thursday October 4, 2012

Worried investors hope Genneva will be allowed to resume business soon

By KOW KWAN YEE and REGINA LEE newsdesk@thestar.com.my

By KOW KWAN YEE and REGINA LEE
newsdesk@thestar.com.my