Posted in Scams on Nov 17th, 2006
Yesterday, I received a name card from a person (details have been removed to protect the privacy). Apparently, he is promoting some investment products from a company called swisscash.
This is a company that promises an average investment return of 20% per calender month and 300% returns in 450 days. Warren Buffett would have been put to shame.
What I cannot understand is that how come even a person who is working as a stock broker can fall for such a thing.
Would you want to invest in a company registered in the Dominica Republic with a PO Box as the company address? Other than that, anything that promises you 20% returns/month guaranteed is definitely a scam. Many of them have come and gone, with different names but similar modus operandi.
Domain Name: SWISSCASH.BIZ
Domain ID: D10113014-BIZ
Sponsoring Registrar: REGISTERFLY.COM, INC.
Sponsoring Registrar IANA ID: 821
Domain Status: ok
Registrant ID: DI_3119403
Registrant Name: Michael Mansfield
Registrant Organization: Swiss Mutual Fund 1948 Ltd
Registrant Address1: P. O. Box 2342
Registrant City: Roseau
Registrant State/Province: NA
Registrant Postal Code: 10000
Registrant Country: Dominica
Registrant Country Code: DM
Registrant Phone Number: +1.12123865570
Registrant Facsimile Number: +1.12123865573
Registrant Email: [email protected]
Last Updated by Registrar: REGISTERFLY.COM, INC.
Last Transferred Date: Tue Feb 07 16:02:18 GMT 2006
Domain Registration Date: Thu Jun 16 11:40:59 GMT 2005
Domain Expiration Date: Tue Jun 15 23:59:59 GMT 2010
Domain Last Updated Date: Mon Jul 31 02:45:37 GMT 2006
KUALA LUMPUR, Aug 30 (Bernama) — Malaysians are advised not to invest in an investment fund under the name of Swiss Cash or Swiss Mutual Fund (1948) being offered through the Internet and local agents.
The Swiss Embassy here said in a statement today that the investment fund had no relation whatsoever with the country.
“The company operates outside Switzerland and is not subject to the very stringent Swiss banking laws,” the embassy said.
“The reference to Switzerland with the attribute Swiss is solely made with the purpose to attract the unaware public to invest, thinking that they would be protected by Swiss laws,” it added.
The Swiss Embassy does not recommend the investment fund and advised the public to be very cautious before investing in the fund.