swisscash scam

Originally Posted by Unregistered

I am surprised that you invested S$20,000 and still do not have bad feelings aginst those people.

They are cheats and they cheated your S$20,000. In a way, you helped them exchanged their e-points into cash.

anyway, i don't believe that you have invested S$20,000.

He did'nt. Some nuts actually believed e-point monopoly money was real. If anything he reinvested his e-point report back into the system.

But maybe truth is , he is pathetic dealer trying to encourage people just move on. This probably more the truth.

Originally Posted by xcesssbiz

http://www.businesstimes.com.sg/sub/...50935,00.html?


Business Times - 01 Oct 2007

MALAYSIA INSIGHT
Kudos to SC for action against scammers Strong message sent to crooks who prey on gullible

By S JAYASANKARAN
KL CORRESPONDENT

IN a landmark event, a sum of RM35 million (S$15.3 million) will be transferred back to Malaysia this Friday from six bank accounts in Hong Kong and eight bank accounts in Singapore. The money was ill-gotten, having been obtained by defrauding people, mostly Malaysians, through an Internet scam called Swisscash.

The Securities Commission (SC), Malaysia's markets regulator and the authority responsible for the funds' return, described the latest development as a 'breakthrough'.

To recapitulate, the regulator moved against the Malaysian promoters of a scam Internet website that promised investors an astonishing 300 per cent return over 15 months. The so-called 'Swiss Mutual Fund or Swiss Cash', according to its legend over the site, had been set up in 1948 by the Cheviot family of France and been operated out of Berne, Switzerland until it moved, in 1996, to the Dominican Republic, ostensibly for tax reasons.

There was only one problem with that: the Swiss Embassy in Malaysia professed ignorance about the Cheviot family and said it didn't have the faintest idea about such a business. According to affidavits filed in the High Court of Malaya, the websites, which are global because of the borderless nature of the Internet, may have collected as much as US$83 million from gullible investors in Malaysia, especially, and others from places like Hong Kong and Singapore.

The SC contended that these sites ran afoul of Malaysian laws (fund management and investment advice are businesses that have to be licensed), including anti-money-laundering rules. In addition, they may have been flouting banking laws as well for accepting deposits without a licence.

In any case, the regulator filed civil suits against the websites' promoters and, pending the outcome of the full trial, successfully froze 22 Malaysian bank accounts of the promoters' and their companies holding almost RM3 million.

But the authority went one better this time, extending its reach across its borders and illustrating, quite magnificently, the respect for the rule of law in countries like Singapore and Hong Kong.

What the Securities Commission did was to secure a global Mareva injunction against the scam's promoters pending the outcome of the legal action against them. The action is against three individuals and four companies controlled by them.

Another bank account on the Isle of Jersey holding more than US$1.7 million has also been frozen pending separate investigations on the promoters by the authorities there. Presumably, this money will be the next to be brought back home.

This exercise essentially means the commission is opting for civil remedies instead of criminal prosecutions. That is good as such prosecutions - especially those involving complex commercial litigation - have been tedious, consuming of time and taxpayers' money, and rarely successful. The only successes, if at all, have been those where the defendants pleaded guilty to lesser charges and were wrist-slapped through fines.

Civil proceedings are faster and, in many ways, hit the wrongdoers where it hurts the most: their wallet. Freezing bank accounts and getting monies back compels those affected to fight their cases with urgency.

The action taken by the SC sends a strong message to white-collar miscreants who prey on the gullible. That is absolutely great.

That website is not working.

Todd ONeal on October 1st, 2007 at 1:59 am
To File complaints to:

Contact Securities Commission in Malaysia

Call the SC (Securities Commission in Malaysia)
General Line: 603-6204 8000

General Enquiry and Corporate-related Matters

Corporate & International Affairs Department
Securities Commission
3, Persiaran Bukit Kiara
Bukit Kiara
50490 Kuala Lumpur
Tel: 603-6204 8777
Fax: 603-6201 5078
E-mail: cau@seccom.com.my

SC malaysia have tranfer back the money RM35million back to MALAYSIA..
So will MALAYSIAN gov will give back the money to Swisscash investor?

I don think so???? The M gov will not...........All money will go to gov pocket

Anyone can answer this question????

[xcesssbiz]

Originally Posted by Unregistered

That website is not working.

This is taken from the Business Times Singapore and the news article is released for free between 6pm to 3am each day. That is why I copy and paste the whole article out. After that time, you will need a paid subscription to access the news on the site.

Sorry about that.

So, i want to ask some law experts.

now, the swisscash is proved to be a scam.

That means the transcation between me and my upline about the "e-point" is not exists or invalid.

Then, i should able to request my upline to return back all my money by civil law procedures.

am i right, and anything i should conceren?

Originally Posted by Unregistered

So, i want to ask some law experts.

now, the swisscash is proved to be a scam.

That means the transcation between me and my upline about the "e-point" is not exists or invalid.

Then, i should able to request my upline to return back all my money by civil law procedures.

am i right, and anything i should conceren?

Dear friend,

The answer is yes you can! You can lodge a file suing your up-line on the basis on introducing a fraud investment scheme which has caused you a great loss. Believe me, they are on the weaker side of this issue. Usually, (as in my country Australia), even before the case makes to the court, the defendant already settles everything.

When you bought a product say a toy, and it had deffects, you could actually return it and get a refund, it's even more possible for someone who invested in a fraud investment scheme (it's likened to a deffected product), to get a refund or in this case a return on the principle.

Don't wait for long, sue your up-lines now! My recommendations for those who are being sued by down-lines, sue your up-lines! In this case, it will create a chain effect, which the oriniginal creators of this scheme will be eventually sued!

There you go again~! Malign innocent people.

As i mentioned before, Alex Ho Wai Choy is not a leader, but a quiet investor by himself, now also a victim who lose $30,000 on the SC scam.

If you want to verify his identity, i will give you he mobile no., & you can meet him in person to verify his NRIC, and prove to us that he has been an active leader. Prove to us also how many downlines does he has?!! In what way did he do active marketing of SC?

Please do your due diligence in your research before you list out the names.

If you malign innocent people again, i will associate you as one of the following leaders (or their obedient pet dog) who try to throw smoke & divert attention:

Mark Lai Wing Chiew
Eng Zee Lin
Shawn Lee
Jeremiah Lee

Originally Posted by Unregistered

Maybe this help and good news for member. Swisscash is scam now and everybody should sue now.... as i get info from private detective...

First this big liar BB Ng, his real name is Ng Choon Beng, his IC is S7305335H, his house is at 91, Zion Road #14-175 , Singapore 160091.

Alex Lew (Wen Jie Lew) is register owner on Serena website of billiondollarteam.info I also see posted here.
http://whois.domaintools.com/billiondollarteam.info

Registrar: Wen Jie Lew (Alex Lew) Mr Serenea Shackup
Blk 538 serangoon north ave 4 , #04-75
Singapore, SINGAPORE, 550538
email: swisscashasia@gmail.com
Tel: (65) 9273-0667

Chea Bee Choon (Serene Chea)
22 Jln Pernama
Singapore , 499263
SINGAPORE
Tel: (65) 6545-8736

Or perhaps the SwissCash Branch Singapore
blk 538 Serangoon N , Ave 4
Suite #04-75
SINGAPORE , 550538
Tel: (65) 6545-8736
H/P: (65) 92730667

Kenny Chea
Spa at tanjong pagar singapore
(maybe some can supply his address?)

Eric Jonathan Lee Woon Mun
blk 560 Ang Mo Kio Ave 10 , #09-1756
Singapore, 560560
SINGAPORE
Tel: (65) 6492-0315

Ho Wai Choy (Alex Ho)
blk 94 Lor 4 Toa Payoh #04-42
Singapore, 310094
SINGAPORE
Tel: (65) 6352-5293

Samuel Chng
Purple Invest Corp
purpleinvestment.com (gone)
Trading # sgsam2824601 & sgkun9927801
samuelchng@hotmail.com
Tel: (65) 6611-3537
sg (65) 9797-2918
my 6017 783-1498
China (86) 135-9035-4918
Thai (66) 868-972-118

They used to hold seminar here

101A UPPER CROSS STREET #08-15
People's Park Centre (directly oposite ChinaTown Point, beside Futurama Hotel. Take the left from OCBC Bank at first floor)

Amir is from Penang which IC 640214-71-6556
add 456, mk3 permatang pasir bukit mertajam PG malaysia 14000

Albert Lee add is 310, taman Satria Jaya , Kuching Sarawak.

Zainal.... hope you can contribute above info to interpol to catch the big liar BB ng

[/quote]

Originally Posted by Unregistered

Dear friend,

The answer is yes you can! You can lodge a file suing your up-line on the basis on introducing a fraud investment scheme which has caused you a great loss. Believe me, they are on the weaker side of this issue. Usually, (as in my country Australia), even before the case makes to the court, the defendant already settles everything.

When you bought a product say a toy, and it had deffects, you could actually return it and get a refund, it's even more possible for someone who invested in a fraud investment scheme (it's likened to a deffected product), to get a refund or in this case a return on the principle.

Don't wait for long, sue your up-lines now! My recommendations for those who are being sued by down-lines, sue your up-lines! In this case, it will create a chain effect, which the oriniginal creators of this scheme will be eventually sued!

I'm personally feel that if you really sue your upline, you must really think carefully. Did your upline told you the risk when invest the online investment or did he just told you that you could get rich fast by joinging this onlineline investment. I beleived that most of your uplines are your friends and he himself also is the victims.

Let say,if end of the day all downline sue their upline and they got back their money who is still the winner? The creator himself/herself of course. Cause he/she do not need to take out any money to pay back to the rest. All the uplines(Victims too) who might not have benefit from the system have to pay back to his downline by his own pocket.

Just think carefully if you really want to sue your upline.If really want to sue ,the only person is the creator of the SC. So if anyone out there have the true information, please do something about it.

Originally Posted by Unregistered

I'm personally feel that if you really sue your upline, you must really think carefully. Did your upline told you the risk when invest the online investment or did he just told you that you could get rich fast by joinging this onlineline investment. I beleived that most of your uplines are your friends and he himself also is the victims.

Let say,if end of the day all downline sue their upline and they got back their money who is still the winner? The creator himself/herself of course. Cause he/she do not need to take out any money to pay back to the rest. All the uplines(Victims too) who might not have benefit from the system have to pay back to his downline by his own pocket.

Just think carefully if you really want to sue your upline.If really want to sue ,the only person is the creator of the SC. So if anyone out there have the true information, please do something about it.

i will tell my upline before i sue him. and i will also advise he to sue his upline.
when he introduce me to join this scheme, he got the responsibility (or say the risk).

Who is the victim? who should take the responsibility? I dont know and i am not in the posistion to tell it. Let the court do it.