Reply By SwissCash Admin About Two Datuks held over Internet scam

Dear Investors,

It was reported today that 8 Malaysians have been apprehended and under questioning by local authorities for cheating a number of investors in their own country. This syndicate had been collecting money from potential investors to invest in many Internet Scams and had never actually invested their money with SwissCash.

Swiss Mutual Fund has been coordinating with the local authorities into leading to the arrests of these culprits after receiving various suspicion enquiries and complains.

Again, we urge all investors who had invested or intend to promote our financial facility to not associate yourselves into any tactics of utilizing our facility to soliciting funds from public for your own personal benefit. Swiss Mutual Fund will not hesitate into taking any action against any party and coordinating with any local authorities to stopping their activities should we have found out their involvement in any suspicious transactions.

We would like to also take this opportunity to clarify that SwissCash is the only financial facility we offer to our global investors. We had never backed up or sponsored or launched any other financial facility that caters to the public.

Thank you

Compliance Department
Swiss Mutual Fund

October 6, 2006 at 1:43 pm 36 comments

Two Datuks held over Internet scam

KUALA LUMPUR: Two Datuks and six others have been placed under remand to help investigations into a get-rich-quick scheme that allegedly promised “huge returns for a minimum investment.”

The Datuks, aged 47 and 57, were produced before a magistrate’s here yesterday together with the others, aged 26 to 58, after their arrest on Monday.

Magistrate Azniza Mohd Ali ordered them to be remanded for five days, until Oct 7.

The police are investigating the case under Section 420 of the Penal Code for cheating.

The alleged scam, known as SwissCash or Swiss Mutual Fund (1948), was uncovered early last month and reported in a Malay tabloid.

Over 50,000 people have purportedly signed up for the scheme since its introduction in April last year.

The Swiss Embassy here has denied that its government had approved the scheme and also rebuffed claims that it was based in Switzerland.

SwissCash, which operates through the Internet, claims to be an “easy, fast and secure scheme.”

It claimed investors’ funds were channelled to business activities ranging from oil exploration to shipping and agriculture in the Caribbean.

Investors are required to pay a registration fee of US$30 (RM110) to join the scheme, which allegedly offers huge returns for a minimum investment of US$100 (RM370).

Those behind the scheme also claimed that investments of US$1,000 (RM3,700) or more could earn a profit of up to 300% after 15 months.

However, after the report appeared in the tabloid, the Securities Commission and Bank Negara released statements saying SwissCash had no licence to collect funds.

Prime Minister Datuk Seri Abdullah Ahmad Badawi also issued a statement calling on those duped by the scam to quickly lodge reports.

Among the scheme’s purported victims are a lawyer, a consultant, a technician and the secretary-general of a government ministry. They claimed they had been cheated of nearly RM20mil.

October 6, 2006 at 1:40 pm Leave a comment

Bank Negara Malaysia about SwissCash

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 2006

Note: This statement means swisscash or swiss mutual fund is not from Malaysia 

September 7, 2006 at 2:03 am 4 comments

Swisscash Scam?

You are not guilty until the court said you GUILTY!

So, as long as SWISSCASH do pay you every month, you cannot tell others that it’s SCAM..

Or at least.. up to this date the Swisscash, you cannot says SwissCash as scam yet..!!

September 5, 2006 at 12:50 pm 3 comments

Swisscash News – First Anivesary Rewards

Dear Regional Directors, Financial Planners, Consultants and Investors

Effective 1st April 2006, in conjunction with the 1st Anniversary of SwissCash (SC); I hereby proudly announce that SC will give an extra bonus to our Investors. This bonus is related to the amount of e-points that is available in your Swiss e-Banking Account at the end of everyday (0:00:00 System Time). For a minimum balance of $1,000 (USD) and above, SwissCash will pay you an annual Interest of 36.5%, payable every single day (0.1% per day) into your Swiss e-Banking account.

Interest Rate: 36.5% per annum = 0.1% per calendar day

Payment Frequency: Daily

Minimum Payable Principal in Swiss e-Bank: $1,000 (USD)

As you may know, our funds are performing very well, therefore we have been thinking of ways to reward our investors. The management comes to this conclusion bearing in mind that this move will encourage our global investors to maintain a healthy balance in their Swiss e-Banking account for the purpose of:

1. Facilitating the growth of SC business through Internal Transfer, and

2. Getting ready for future financial products of SC that will be launched after 2007.

This new financial facility will give an extra edge to SC business growth. It is also a testimonial of our fund performance through out this past 1 year in the global market. Critics were fast to mention that SC will not last more than a year. At 1 year old, we have decided to pay investors an extra 36.5% per annum!

Towards this new vision, we strongly advise our Investors to portray SC as the truly financial solutions of today and years beyond. Please do not associate SC Financial Facility with any local Money Scam or Laundering facility in your own geographical location. I had also instructed our Back Office Administrator to only entertain inquiries that is related to the technical aspect of our business operation from 1st April onwards. We will no longer answer inquiries that are irrelevant with a global financial facility which has already been operational for 1 year with excellent track record in the global market.

Our operator will stop entertaining any inquiries with regards to SC business facilities. All inquiries must be in written form through emails or Swiss Messenger System for proper recording and referencing in case of future disputes.

I thank you all for your contribution but I urged a more serious approach and commitment from those who had embraced SC as your personal business. All of us share the responsibility to upkeep the image and reputation of this Financial Facility. I will personally take care of your money. My team will make sure our System is running smoothly 24 hours with minimum down time. In return I wish all the marketing personnel out there who are promoting this financial facility and who are getting paid with extraordinary bonuses to make sure SC remains as the best-promoted financial facility.

I personally thank you all and owe our success to all of you who have committed your trust to us since Day-1.

Best Regards

Michael Mansfield

CFO

Swisscash.biz

September 5, 2006 at 12:27 am

SwissCash News

Dear Swiss Financial Planners/Consultants,

This is a reminder to all our investors that effective 1st March 2006, SwissCash Financial Facility no longer allows an investor to create more than three (3) Trading accounts. We had previously made similar announcement but it has yet to be implemented. Along with this new regulation, kindly take note that investors are now allowed to invest up to USD 100,000 per investment in our SIP15300 instead of the maximum USD 10,000 allowed previously. Multiple investment of USD 100,000 per trading account is acceptable.

We believe that this new regulation will allow our Swiss Financial Planners/Consultants to earn better income from SAP and SRP as well as manage their Trading Accounts at ease.

To enhance our e-banking security system, the security code will no longer be required to be keyed in during LOG IN. Investors would need to key in their passwords using the virtual keyboard with the mouse. This new security enhancement will greatly reduce the risk of trading account passwords being captured by 3rd parties.

We hope that you will keep this new regulation in mind so as to be able to offer a better explanation to your potential investors.

Thank you.

Swiss Management Team

September 5, 2006 at 12:21 am 19 comments

Pyramid Schemes Versus Swiss Cash

What Is a Pyramid Scheme?

Pyramid schemes first started with chain letters. Basically, a pyramid scheme involves the selling of the possibility to earn money, and does not usually involve any tangible goods.

For example, the pitch may be for the secret to earning ten thousand dollars a month. In order to get that secret, you must send X dollars to the seller. What you get, is nothing more than the original information, or a “license” to begin selling the same “information” yourself.

Ads for this type of scheme were often seen in newspapers and other mass media. The point was to sell as many opportunities as possible, before there were so many people in the pyramid that the entire scheme would collapse.

It got the name, because it starts with one person or a small group, and expands multiple times at each level that goes downwards from the “top”, increasing the number of people involved, and thus the size of the sales staff at that level.

In some schemes, besides the original purchase of a secret, you were also required to send a certain fee per sale, back to the person who sold you the idea.

The typical features of a pyramid scheme are high-pressure sales pitches, little or no information offered about the opportunity or company prior to payment of a fee, and no contact information.

Remember that a pyramid scheme is not the same as Multi Level Marketing (MLM) where people sell things such as make-up at home parties, but also earn “commissions” for enrolling new sales staff.

Is Swiss Cash A Pyramid Schemes?

One of sources of income in Swisscash is SFP. SFP is stand for Swiss Cash Financial Plan. The SwissCash Financial Plan is a binary system in which you build balanced left-side and right-side downline organizations for the purpose of accumulating SIP Investment Volume. The monthly SFP commissions you earn are based on the balanced SIP Investment Volume accumulated in your left-side and right-side downline organizations.

SwissCash Trading Accounts are designed to pay you monthly SFP commissions on Investment Volume (regardless from which SIP) with no limit on the number of levels from which you can earn your commissions. In addition, a SwissCash Trading Account allows you to be paid on the Investment Volume created by your downlines.

The income you receive from SwissCash Financial Plan will be in direct proportion to your ability to promote SwissCash’s financial services and your ability to build an organization of SwissCash Financial Planners, Consultants and Investors.
Commissions are awarded in US Dollars in your e-bank account on the 5th of the following month after calculating the total monthly (according to calendar month) SIP investment volume on the left and right side of your trading account.

What the differents?

In piramid scheme you might be have 2, 3, 4 or even more downline level where only 1st level is your direct referals, and you get profit from all level with certain percentage; other works for you!

BUT in SWISSCASH you only has 1 downline level; your direct referals, and 10% SAP and SRP bonus you can get from your direct referals, not from your referal’s referrals(downline of your downline)…

August 10, 2006 at 5:08 am 4 comments

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