No, because

1. Genneva charges a premium of 25 to 30% vs QM’s standard 3% mark up (That is only when clients buy from QM but totally no mark up when sell.)

2. Genneva promises a fixed 2 to 3% monthly return vs QM where there’s no guarantee of fixed returns & profit performance are solely based on gold price movements which are beyond control our control.

3. The rest includes money laundering. Illegal deposit taking. Tax evasion & more. Whereas, QM is a reporting agency to Bank Negara Malaysia where it’s activities are closely monitored.

In conclusion, QM is entirely different than Genneva.

Article: A 5-min guide on the biggest gold trading scandal in Malaysia, involving 35,000 Malaysians