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
Tania Hume said,
October 14, 2007 at 1:42 am
Dear Mr Llewellyn:
I have read a number of your articles, very interesting which has provided me information which was balanced and I was unable to get espeically about Swiss Cash. I think a lot us Jamaicans pray that Olint continues doing well and so too LewFam as both entites have saved a number of Jamaicans from financial ruin a second time ( first time the financial sector meltdown) and also enabled a great number of Jamaicans to survive better and can see a light at the end of the tunnel.
Regards,
Tania Hume
tayfur eksioglu said,
December 19, 2007 at 9:50 pm
Hi Tania ; how can I open an account with Olint . Can you enlight me ? Also I heard now they are operating in Turks and Caicos , is that true ?
niya1202 said,
January 30, 2008 at 11:05 am
tayfur eksioglu Olint are not taking anyone right now, and yes they are based in the Turks and Caicos
Ingrid R said,
February 4, 2008 at 10:21 pm
yep, Swishcash has in fact rebranded themselves, they are now swisscashinv.net. I’ve been wondering, as a Jamaican national, can’t you just fly down to Turks and Caicos and open an account. Jamaican govt can’t legislate that! Isn’t the court case focused only on what happens in Jamaica?
Gemini said,
February 9, 2008 at 1:44 am
@ Ingrid….did you log in to that Swiss Cash site and check your balance ? I am thinking it may be a phishing site designed by hackers to steal your username/login password.
fitz said,
April 20, 2008 at 3:19 am
Has anyone heard anything about maydaisy or higgins warner
JohnDoe said,
April 23, 2008 at 12:36 am
Olint, Worldwise, MD and Lewfarm are ponzis… It is only a matter of time….
carlene mccoy said,
November 14, 2008 at 9:02 pm
since december 19th of 2007,i gave mr gilpin my $6000.00 to invest in your company i gave him my account number, my swift code,and my routing number,up until today i have not receive one red cent in my account .i need to know what is going on with my investment it is one month less than a year.please could someone tell me what is going on.i need my money.thank you.