The Swisscash Saga Continues

September 10, 2007 at 7:50 pm (Financial Investment, Maximizing Your Wealth)

As a follow up to my previous blog on “Investment Craze or Crash”, I thought it pertinent to write a bit on the whole Swisscash saga. There is a lot of information out there as to what’s happening with Swisscash but still a lot of uncertainty.   

It seems in Malaysia, many innocent investors were being cheated by unscrupulous individuals claiming to be aligned to Swishcash. Its appears that a number of persons joined wrong websites promoted by people using Swisscash’s name and as a result Swisscash has become target. But I still am unable to vouch for the innocence of Swisscash in this matter. 

On the 21 of June 2007 the Malaysian Securities Commission obtained a Mareva Injuntion on Swisscash and as a result Swisscash websites were not allowed to be accessed by Malaysians as Malaysian internet service providers were informed to block access.  

On 18th August, all Swisscash websites were taken off the internet because the Malaysian Securities Commission went further and obtained an INTERNATIONAL Minerva injunction. Unfortunately this affected both Malaysian investors and ALL Swisscash investors.

“The Mareva was sought by the SC following the filing of a civil suit against defendants Albert Lee Kee Sien, Kelvin Choo Mun Hoe, Amir bin Hassan, Dynamic Revolution Sdn Bhd, Swiss Mutual Fund (1948) S.A., SMF International Limited and SMF (1948) International Limited.

The Mareva, which can be viewed here (pdf – 418KB), restrains and prohibits the defendants from:

  • carrying on the business of Swisscash,
  • targeting, soliciting and/or collecting funds from the public for investments in Swisscash or any other internet investment scheme, and
  • hosting or operating the Swisscash websites or operating any other such websites which solicit investments for Swisscash or any other internet investment scheme.

The SC (Securities Commission) secured the Mareva following its investigation on the scheme under the Securities Industry Act 1983 and the Anti-Money Laundering and Anti-Terrorism Financing Act 2001.”  http://www.silapbesar.com/blog/  

According to friends who are members of Swisscash, the organization intends to create new websites, ‘rebrand’ itself, and carry out investment service by the 15th September 2007. Lets see what will happen.  

____________________________________________________________________________

Andre P. Llewellyn (c) 2007

8 Comments

INVESTMENT CRAZE OR CRASH?

September 6, 2007 at 5:18 pm (Financial Investment, Maximizing Your Wealth, Uncategorized)

Greetings Friends 5%, 10%, 15%, 25% –  those figures can make your investment account become the apple of your eye, or the spice that leads to hypertension. Are they realistic? I have learnt how to trade on the forex market, and I know of novice traders who have turned there US$1000 mini trading account into to $8000 in less than a day and I also know those who have standard accounts over US$5000 who have lost most of it. So the individual trader can make over 25% in a trade but he/she can lose big. People, I personally am very cautious of clubs/institutions that guarantee above 15% every month.      

Since Lewfam and Olint were ‘raided’ by the FSC, these  clubs have received much attention in the public fora. Infact, a number of other clubs/organizations have emerged through the grape vines and there seems to be this investment craze, as different investement groups (new and old, bad and good) have tailed the ’bad publicity is good publicity’ waggon.

I advise new investors and potential investors, dont play hopscotch with your money.

Dont run down the big percentages. Aim for a solid investment portfolio by diversifying your investments. Too many persons have all there money tied in high risk investments. I am apart of investment clubs (only 2, as a poor man, I would only consider a 3rd when there is an increase in my cashflow) but I can never vouch 100% for any investment club/ house. Even after much research, an organization that seems to possess longevitity and authenticity may end up being a scam or it may CRASH based upon a number of reasons.

Please stay away from investment clubs/organizations:

  • With a high level of anonimity Guaranteeing extreemly high returns
  • With very technical and unclear payout,withdrawal and deposit processes
  • That do not ensure that members are compliant with the anti-money laundering act.
  • with a suit address or no permanent mailing address or phone number. There are many people who steal people’s money from laptops in hotel rooms.

Please do your research and invest wisely. Blessings!!  _________________________________________________________________________ Andre P. Llewellyn (c) 2007

32 Comments