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SwissCash – More Thing to Share and Ponder
Tags: No Tags.I found on eCommerce Journala warning annoucement issued by Bank Negara Malaysia or Central Bank of Malaysia regarding Swiss Cash fraudulent activity.
The full warning announcement as below:
“Warning on Swiss Cash or Swiss Mutual Fund
Bank Negara Malaysia and Securities Commission of Malaysia would like to inform members of the public that Swiss Mutual Fund, the company that is promoting the Swiss Cash fund, is not licensed or exempted from licensing by Bank Negara Malaysia to accept deposits nor is it licensed by the Securities Commission to carry out asset management activities or services in Malaysia. Swiss Cash fund promoted by Swiss Mutual Fund has not been approved nor endorsed by the Securities Commission.
Swiss Cash fund is an internet-based investment program promoted by Swiss Mutual Fund, a fund management company claimed to be registered overseas, and the investment opportunities in the fund is offered through the Internet and local agents.
Members of the public should only invest through parties that have been licensed by the authorities. When in doubt, the public should check with Bank Negara Malaysia, the Securities Commission or other relevant authority on the licensing status of the local or foreign company before making any investment.
Members of the public may contact the Securities Commission and Bank Negara Malaysia for enquiries on the fund:
Complaints Department, Securities Commission
Tel: 03 6204 8999
Fax: 03 6204 8991
E-mail: aduan@seccom.com.my
Bank Negara Malaysia
Tel: 03 2691 0824 / 2692 6482 / 2698 2810 / 2694 2143
Fax: 03 2698 7467
E-mail: info@bnm.gov.my
Bank Negara Malaysia
Securities Commission
5 September 2006â€
Popularity: 4% [?]
Thanks for sharing, maybe the end is near for SwissCash?
I have invested in Swisscash last month and now already getting my first return. I have’nt referred anyone yet and maybe will not for this few upcoming months. From my point of view, about Swisscash, is that :
1) It maybe a scam though my senses keep telling me that this is not so.
2) It maybe initially made to be a scam. But then after a few months the people running Swisscash will see that there is potential in Swisscash becoming a global entity and do some or major real investing with investor’s money and give payouts as promised and maybe able to achieve their vision as stated on the website.
3) It maybe a true genuine unheard of Investment company and offering Swisscash services to help ordinary people to achieve financial freedom (as stated in website). Even though a statement was released by the Switzerland Embassy in Malaysia stating Swiss Mutual Fund is not a registered company in Switzerland, they could have registered a long time ago (Over 60 years) under a different name and Swiss Mutual Fund is just another offshoot from this unknown company name which maybe now based and registered in the Dominican republic.
To reply in reference to the “warning article” in Malaysia, I have anticipated the response from authorities in Malaysia even before I joined Swisscash as the nature of investors in Malaysia are quite aggressive in promoting
Swisscash. Warnings are also issued to Swisscash members about over-promoting Swisscashin the members area.
The only thing the Sec Comm and Bank Negara Malysia could do is to regulate the flow of money out of Malaysia by issuing the warning article. Please be reminded that all returns from Swisscash are tax-free and that is what the Malaysian government do not want the people to get.
I seriously hope that my third opinion is the true thing about Swisscash and they are here to stay online for many years to come.
A reminder to all blog readers, forum writers or online investors is that all online investments, be it HYIP, non-HYIP, any type of purchases, even e-bay are considered risks. It is up to the individual to decide and set his or her objectives and financial status. The sad thing about some articles printed on forums is that the writers condemn some particular websites, saying them to be scams without investing in any of them. To these type of people, I suggest it is better to ‘Put Up or Shut UP’.
I thank all for reading this opinion of mine and hope for the best for Swisscash.
Well said…
I’ve also came through lots of so called proof that are commonly oppinions. Such parties, claims and accuse of it to be from a certain country is also too annoying. For those parties on-line, Please Stop accusing without proper evidence!
The goverment is still investigating on the matter as we speak.
Don’t make assumptions from other statements that is based upon oppinions as your fact. That is most commonly selfish and could be missleading.
Just be alert and always be in the cognitive domain.
today, we all get a big problem……………………….we all not received the next payment…………………waaaaaaaaaaaaaaaaaaaaa……………
Hii Investor,
What makes you cry soooo badly? How much money you put in? I guess it must be really a lot. In fact I am about to invest very very soon. I heard many investors are driving Mercz and BMWs, and they are justordinary investors, I mean just small time investors. Don’t you think it’s amazing.. Seems to me that as we busy thinking and talking, many more BMW’s rolling down the road… driven by those lucky investors. I really wish your cheque is o the way, dear Investor.
Deera.
Hi Deera,
Please do not invest in swiss cash. Investor is not the only one not paid. If you invest now, you will lose it and never see a penny. If you do invest after reading my warning, please do not come back complaining that they stole your money.
I thought that they were closed already!
JMO,
Sharon
Let me share my story…
I’m a nobody. After a week of “research” in google using phrases like “scam, swisscash, investment, hyip, ponzi” etc., I learn about 1 thing.
Either I waste my “USD 1,000.00″ and weep, or take that “RISK”.
If you read the “terms and conditions”, before “signing-upâ€, you will “agree” that, you might not get back your investment and I’m willing to take that RISK.
Maybe, I would not try to “convince” others to join because I not 100% sure about this “scheme†and I would not like to see them “blaming†me for inviting them into this “scheme†when and if it collapse.
Investors can make “tonnes†of money daily and if everyone “knows†how it’s done, everybody can be “millionaires†overnight and would not be “grumpy†waking out of bed early morning everyday, trap in hours of traffic jams, line up at counters for more hours, and repeat that all over again, day in and day out, months, years, and still “wonder†how that “ugly†looking fat dwarf guy can “own and drive†a Mercedes S-Class (Who cares…, it’s his money).
Finally, either I just “stand†and “wait†and “do nothingâ€â€¦ on my point of view “wake up†and look at REALITY that everyday I take even HIGHER RISK of being killed, run down, run over, cheated by some “unknown faces†out there.
For the non-RISK people out there that always “whining†about other people FORTUNES and applauded other people grievances… but love to earn extra income by investing, there are hundreds kinds of Mutual Funds, Federal National Funds like ASB, ASN, ASW (to name a few) etc out there…
Life is not a gamble, but about taking RISK and not feeling sorry for that “stupid†things you have done (although you know it just doesn’t make any sense) because you know it was a RISK.
My advice is… look for a book title “Rich Dad Poor Dad†by Robert Kiyosaki… and you will understand what I’m talking about…
Just my 2 cents…
Swiss Cash is haram as declared by the National Fatwa Council.
Here’s what I think why it’s a scam
http://www.sabahan.com/2007/04/17/is-swiss-mutual-fund-swiss-cash-a-scam/
I lost my money and everything!!!!!!!!!!!!!!!!!!!!!!!!!!!. Sudah papa kedana. Hell to swisscash
The stealing has started. The majority will still be paid at this point, but they will steal for a few, especially newcomers. It will still take over half a year at least before swishcash really closes, when a ponzi like this starts to crumble, they try to find ways to steal or delay payments. We saw it at ST, we will see it here as well. DO NOT INVEST.
The “grievenesses” from investor and buncit were totally scam. What the hell you all guys try to say??? HIDUP SWISSCASH!!!