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Category Archives for Scams

Gold Guarantee CAD FAQ

CAD has recently published a FAQ on it’s investigation of The Gold Guarantee. If you were hoping for useful information, unfortunately you are going to be disappointed. The Gold Guarantee FAQ provided by CAD is essentially a cut and paste job of their earlier FAQ on Genneva Gold. The key messages are: Any questions or disputes should […]

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MAS Investor Alert List Questions

A couple of questions were asked in parliament regarding the MAS Investor Alert List: Whether MAS can take more pro-active measures to enhance consumer awareness of the Investor Alert List (IAL), hence giving consumers the necessary protection in assessing the credibility of gold investment buy-back schemes? How many investors are affected by the investigation into […]

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Virgin Gold Scam

The other day, my friend was asking me what I thought about this investment from a company known as Virgin Gold. One of his colleagues is an investor and has recommended it to him. The way Virgin Gold was set up, it was blatantly obvious that it was a ponzi scam. According to the website, Virgin Gold […]

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Genneva Gold Raided in Singapore and Malaysia

genneva gold

Gold trading firm Genneva Gold was raided by the authorities in both Singapore and Malaysia in a simultaneous operation yesterday. In Singapore, the Commercial Affairs Department (CAD) moved in to seize documents and computers for investigations. In Malaysia, multiple agencies which included officers from the police, Bank Negara, the Companies Commission of Malaysia and the Ministry […]

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Genneva Gold in the News

This news report on Genneva Gold was broadcasted on Channel 8 last night. For those who do not understand Mandarin, this is the summary: Genneva Gold is in trouble and unable to fulfill its monetary and gold obligations to its customers. Amount of gold involved is suspected to be more than 500kg. Company declined to […]

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