Genneva gold

By now everyone would have read in the papers about Genneva gold.

Yesterday BNM and a few other agencies raided the premises. Well I guess I did see it coming. My friend was telling me about the raids at their Singapore offices and their failure to pay dividends and deliver the gold wafers.

I have no one to blame but myself. Why did I invest in the gold? Well truth be told I wanted to help my sister earn her commission as she became one of its consultant. When she first spoke to me about it, I was not interested. Later she showed me her cheques and raved about the RM2k a month she was getting as dividends.

I thought "why not". After all I get to keep the physical gold not a book or a piece of paper like a gold deposit account.

So I invested a sum of money and got a beautiful gold wafer to keep.

No one should be more surprised than me when I read about the raid. I mean how many banks are going to stand it if their depositors start taking out all their savings and put it in Genneva gold investmenst?

I must say that I did receive 2 months dividends and then the infamous raid happened. I guess the authorities must have basis for doing so.

I hope the authorities resolve this soon and let them carry on their business or wind it up so that the innocent investors can get back their money. Many of them invest to fund their children's education or for their old age so it just doesn't seem fair to leave innocent investors in the lurch.