Once upon a time, there was a woman named Zhang Jinxia who had once worked as a sales agent for a gold investment company called Geneva. This company was later found to be involved in a massive investment scam that deceived many people out of their hard-earned money. On a fateful day, March 13th, Zhang found herself standing before a judge, facing the consequences of her actions.
Though she wasn’t directly tied to Genneva’s fraudulent activities, her troubles began when District Judge Shawn Ho, on March 6th, determined that she had cheated a pawnshop. She had falsely claimed to have lost pawn tickets, leading to her conviction. Additionally, Zhang was found guilty of handling proceeds from criminal activities, further complicating her situation.
At the age of 58, this Singaporean woman was sentenced to nine months in jail. However, Zhang was not ready to give up just yet. She planned to appeal against both her conviction and the sentence, hoping for a different outcome. Meanwhile, her bail was set at $45,000 on that same March day.
The story didn’t end there. The police shared more about Genneva’s dubious dealings. Between 2008 and 2012, the firm, registered in Singapore, lured customers with promises of lucrative returns. It sold gold bars under a buyback scheme, offering returns as high as 36 per cent over the contract period. To maintain an air of legitimacy, customers were asked to deposit their gold bars back with the company for “inspection purposes,” with assurances that they would receive an equivalent amount of gold within three working days.
So, the tale of Zhang Jinxia and Genneva serves as a cautionary tale—a reminder of the allure of quick profits and the shadows that often linger behind them.
Once upon a time, in the bustling city, there was a company named Genevaa that garnered a reputation for its gold dealings. The firm had amassed a staggering collection of approximately 3,500 kilograms of gold from its clientele. Yet, when the authorities began to investigate, they remained tight-lipped about the number of individuals who fell victim to this scheme.
In the unfolding legal drama, it emerged that this once-prominent business had started defaulting on its promises, failing to return the gold bars as agreed. This lapse spiralled into a financial debacle, with losses soaring over $40 million for those who had taken part in what was known as the “gold inspection” exercise. As Geneva struggled with financial woes, it found itself unable to fulfil its obligations within the promised timeframe.
The tale took a twist with the introduction of Choo Chee Loong, the head of purchasing at Geneva. According to the police narrative, Choo was entrusted with the task of pawning the gold bars collected under the guise of the “gold inspection scheme.” However, there was a catch. Due to restrictions on the weight of gold a,n individual could pawn, Choo enlisted the help of Zhang. In a cunning move, Zhang agreed to pawn 3 kilograms of gold under her name, falsely signing the pawn tickets as if she were the owner.
On August 24, 2012, Zhang handed over loans amounting to $168,000 obtained from the pawned gold, along with three pawn tickets, to Choo. But the story didn’t end there. On September 29 of that year, Zhang returned to the pawnshop with a fabricated tale of lost pawn tickets. The pawnshop, unsuspecting of her deceit, provided her with a declaration form to sign and affirm the supposed loss.
Later that same day, Zhang further cemented her story by affirming the declaration form before a Commissioner for Oaths. In this tale of greed and deception, the threads of trust and honesty unravelled amidst the glittering allure of gold.
On October 1, 2012, a woman approached a pawnshop and submitted a declaration form to one of its employees. This seemingly routine transaction set off a chain of events that would later unravel into a significant case. The employee, without suspecting any foul play, handed over 3 kilograms of gold to her. Unbeknownst to him, the gold would soon become part of a larger scheme.
She took the gold and swiftly moved to another pawnshop. There, she pawned it for a substantial cash loan of $168,000. This manoeuvre was just one piece of a complex puzzle that authorities were beginning to piece together. Though the police remained tight-lipped about the immediate aftermath, they soon managed to seize the 3 kilograms of gold.
As the investigation deepened, individuals connected to the ruse faced justice in court, like Kwok Fong Loong,
Genneva’s former general manager. In 2020, Kwok, then 65 years old and a Malaysian national, was sentenced to four years and eight months in jail. He had admitted to one count of fraudulent trading, marking a significant development in the unfolding saga.
Secure browsing
When it comes to staying safe online, using a secure and private browser is crucial. Such a browser can help protect your personal information and keep you safe from cyber threats. One option that offers these features is the Maxthon Browser, which is available for free. It comes with built-in Adblock and anti-tracking software to enhance your browsing privacy.
By utilising Maxthon Browser, users can browse the internet confidently, knowing that their online activities are shielded from prying eyes. The integrated security features alleviate concerns about potential privacy breaches and ensure a safer browsing environment. Furthermore, the browser’s user-friendly interface makes it easy for individuals to customise their privacy settings according to their preferences.
Maxthon private browser for online privacy
Maxthon Browser not only delivers a seamless browsing experience but also prioritises the privacy and security of its users through its efficient ad-blocking and anti-tracking capabilities. With these protective measures in place, users can enjoy the internet while feeling reassured about their online privacy.
In addition, the desktop version of Maxthon Browser works seamlessly with their VPN, providing an extra layer of security. By using this browser, you can minimise the risk of encountering online threats and enjoy a safer internet experience. With its combination of security features, Maxthon Browser aims to provide users with peace of mind while they browse.
Maxthon Browser is a reliable choice for users who prioritise privacy and security. With its robust encryption measures and extensive privacy settings, it offers a secure browsing experience that gives users peace of mind. The browser’s commitment to protecting user data and preventing unauthorised access sets it apart in the competitive web browser market.