http://www.bernama. com.my/bernama/ v3/bm/news_ business. php?id=287298
http://www.maybank2u.com.my/highlights/swiss_cash.html
Is Swiss Mutual Fund & Swiss Cash a Scam? I was reading the readers letters
section in our local newspaper recently where a guy wrote in voicing his
concern over the authorities negative attitude towards the Internet investment
schemes that are becoming the latest craze here in Malaysia.
I cant recall exactly what he wrote but it went something like these schemes
offer an opportunity for the low income group to improve their livelihood while
participating in the countrys ICT development.. The authorities plans to
crackdown these scheme were unwarranted according to him.
I have nothing against improving livelihood through ICT but what concern me
was he didnt realise those schemes got him off on the wrong foot.
Swiss Mutual Fund or Swiss Cash is one of the most popular of such schemes
that promise big returns.
Swiss Cash claims to offer a 300 percent returns on investment in just 15
months, an amazing offering for any investment company - especially from one
which has only started operating in 2005. This sounds too good to be true and
like most things, it probably is. Heres why.
Confusing facts about Swiss Mutual Fund & Swiss Cash scheme.
The website claims Swiss Mutual Fund was founded in 1948. Its baffling to
see that their web presence just started in 2005. The SwissMutualFund.Biz
domain name was registered in Jun 12 2005 for only one year. An answered I
obtained from a self-replicating affiliate website explains this shouldnt be a
concern to investors as the domain name is renewed automatically every year.
OK, but I dont understand why an established company which supposedly in it
for the long run would choose to auto-renew their domain name instead of
pre-registering it for several years in advance.
The whois info shows that the domain was transferred to another server on Jun
21 2006 and later the expiration date was extended to 2011. It contains fake
contact information too.
Swiss Mutual Fund owns three websites which are SwissMutualFund.biz,
SwissCash.net and SwissCash.biz. Swiss Cash is an investment scheme managed by
Swiss Mutual Fund. To the untrained eyes, the main website at
SwissMutualFund.biz is a well designed site belongs to a well established
investment company. To me its filled with a mediocre sales pitch trying to
sell some vague and suspicious investment scheme which guarantees large
returns. The website is filled with pictures of people and images unrelated to
the company. They even try to make it looks legitimate by including stock
market performance charts obtained from Yahoo.
I tried to find information about their other services such as the Swiss
Trust, Swiss Invest Foundation, Swiss Brokerage and Swiss Equity but was
dissapointed to discover that they either forget to include these or they only
run Swiss Cash. SwissCash.Net suffers from the same red flags and SwissCash.biz
isnt working.
Apparently, the guy in charge of managing the fund is Michael Mansfield the
Chief Financial Officer as shown below
Then below is the picture of the financial team
The Financial Team page named six people including Michael Mansfield. The
rest are Kurt Sandelman, Rupert Benedict da Vinco, Julia Rodriguez, Hector
Willem Sidberg, and Fernando Munoz.
Now is that a picture of Michael Mansfield on the first right when he was
young? There are seven people in the picture but why only name six of them? If
Michael Mansfield is not in the picture, why did SwissCash find the need to
include two nameless employers in this supposedly very important group photo?
They claimed that they are based in the Dominica - a statement questioned by
many sources. Without a solid proof, anybody can claim anything on the
Internet. I can claim I am based in the Republic of Dominica too. Their current
addresses:
280 Madison Avenue, 912 - 9th Floor,
New York. NY10016, U.S.A
P. O. Box 2342. Roseau,
The Commonwealth of Dominica Tel: +1 212 386 5570
Fax: +1 212 386 5573
[EMAIL PROTECTED]
Theres no telling if those addresses are indeed real unless someone take the
time to walk up there and check. But heres an info I found
Hi, I found that the Swisscash address actually is belong to one of the
travel agency called Exlusive Departures, visit
http://www.exclusivedepartures.com/ContactUs.html and I have made a call to
them, phone no. +1-765 277 6831, there was a guy answering me and he confirmed
that the below address is belong to Exclusive Departures:
280 Madison Avenue, 912 - 9th Floor,
New York. NY10016, U.S.A
He said they are not related to Swisscash and not even heard about Swisscash
office around their building area, or same floor with them - 9th floor
..
So the Swisscash address is still questionable now?? Maybe someone who stay
nearby can really walk to that building to find out where is the Swisscash
office for a final confirmation
.
Looks to me they have a virtual present in that building where their address
points to a non-existance physical office. Now tell me where does the grandiose
looking office shown in their Financial Team page located? Fake photo detected!
The domain for the the support email Scsupport.net is a parked domain - quite
strange for a self-proclaimed multi-million dollars company.
As for the phone number, several people did try to call them, the line was
manned but it seemed they were outsourced to a third party personnels who were
not very familiar with the business operations of Swiss Mutual Fund or Swiss
Cash.
Legit investment companies disclose how and where the investors money is
invested in, illegal ones give excuses to hide this information to cover their
tracks. From their affiliate FAQ page
We are sorry to inform you that how SwissCash Global Investors fund are
managed is part of SMF Private Investment Policy. SwissCash financial facility
does not function by explaining to its investors how their money are invested.
It functions by paying a fixed return for the investment made. Swiss Mutual
Fund has and will always do investment with only legitimate business. We have
been operating for nearly 60 years and will not jeopardize our reputation with
investment in businesses that is not legal.
Swisscash.biz had used a mail server located in Malaysia with the following
IP address 202.189.46.230. That server hosted several websites - one of which
was emobile2u.net. This website was associated to a now defunct get rich scheme
at empireddreams.com Their answer to this
Our database and ftp servers are situated in US as well as other places. We
do have mail servers in Malaysia , Hong Kong , Australia , UK , Brazil and US.
If you trace the source of our mail servers from the email that you received,
you will find that its IP
could originate from any of these countries.
They claimed that they are not registered in Malaysia , therefore are not a
Malaysian company. Strangely enough most of their investors come from countries
in South East Asia, namely Malaysia , Singapore and Indonesia.
Bank Negara Malaysia & Securities Commission of Malaysia had issued a press
released giving out warnings 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.
Without a valid license, Swiss Mutual Fund is basically doing business
illegally in Malaysia .
The Hong Kong Securities and Futures Commission listed SwissCash.biz,
Swisscash.net and Swissmutualfund.biz as scam websites.
The Switzerland embassy in Malaysia & Singapore denied that the scheme is
registered in Switzerland . Heres the full warning issued by the Swiss
embassy. The Swiss Mutual Fund (1948) and or Swiss Cash are not registered
companies in Switzerland . Until proof of the contrary, the Embassy doubts that
the remarks about these funds and their historic links to Switzerland as
outlined on their original website are genuine. The original website is indeed
registered in the USA and the contact telephone number is from New Jersey
(USA).
It is obvious that this company uses the denomination "Swiss" in an illegal
and fraudulent way to attract customers .
Moreover, the promotion of the fund seems to work via agents on a MLM system
which appears to be close to a Pyramid scheme. Pyramid schemes are illegal in
Switzerland .
The Embassy does therefore not recommend these funds as an investment
opportunity.
MayBank issued a statement that MayBank2U.com trademark has been used
without their consent in the brochures of Swiss Cash.
Now after reading this, do you still think Swiss Mutual Fund and Swiss Cash
as legitimate businesses?
Related posts
Its The End of The Road for Swiss Cash & Other Get Rich Quick Schemes
Malaysia Securities Commission Investor Alert List
Inaccurate News Report About Get Rich Scheme Websites?
Internet Investment Scheme Banned By National Fatwa Council
Skim Cepat Kaya - Penipuan Di Sebalik Pelaburan Internet Palsu
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T e c h C e n t r a l
http://star-techcentral.com/tech/story.asp?file=/2007/9/14/technology/20070914110609&sec=technology
News Friday September 14, 2007
SC blocks another Swisscash website
KUALA LUMPUR: As part of its efforts to combat illegal investment schemes,
the Securities Commission (SC), together with the Malaysian Communications and
Multimedia Commission, and CyberSecurity Malaysia, has blocked access to a new
Swisscash website which offers an illegal investment scheme promoted by Swiss
Mutual Fund. The website, www.swisscashguide.com, recently surfaced on
the Internet. This brings to four the number of websites related to
Swisscash that have been blocked. Earlier in June, the SC blocked three
such websites namely www.swisscash.net, www.swisscash.biz and
www.swissmutualfund.biz. In a press statement yesterday, the SC reminded
investors that neither Swiss Mutual Fund nor Swisscash are licensed by the SC.
It said the activities of Swiss Mutual Fund/Swisscash had also been
declared illegal in several other countries such as Jamaica and China.
The commission said it would continue to take all measures to combat
investment scams, including blocking access to more websites, and taking
appropriate enforcement action against its operators and agents.
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Maybank Has No Business With SWISS CASH.BIZ It has been
brought to Maybanks attention that our Maybank2u.com trademark has been used
without our consent in the brochures of SWISS CASH.BIZ in relation to its Swiss
Mutual Fund, which is purportedly an offshore investment entity offering
various financial products and services.
We would like to inform all our customers and the public that Maybank DOES NOT
HAVE ANY RELATIONSHIP WITH SWISS CASH.BIZ nor has Maybank given its permission
to SWISS CASH.BIZ to use our Maybank2u.com trademark in their brochures.
For any information on products and services of the Maybank Group, please
log-on to www.maybank2u.com. If you require any clarification, please contact
the Maybank Customer Care Centre at Tel. 1300 88 6688.
Thank you.
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