Swiss Cash / Swiss Mutual Fund 1948 scam
By Arza, MAKEMONEY [July 6th, 2008]
SwissCash / Swiss Cash / Swiss Mutual Fund 1948 scam
It has come to the attention of the Embassy, that there is a very aggressive selling taking place in Malaysia to promote an investment fund scheme called
Swiss Cash (SwissCash)
Swiss Mutual Fund 1948
Every serious Internet User is aware of the fact, that anything can be said, promised and advertised on the Internet completely uncontrolled. There is a tremendous amount of good and useful information, but unfortunately the Internet is also a breeding place of a lot of misleading sometimes even fraudulent information. It is therefore always wise to do some research.
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.
To discuss issues concerning the Swiss Cash scam (Swiss Mutual Fund 1948 scam) click here.