Is SwissCash for real?
Published February 25th, 2007 in SocietyI first heard of this new investment scheme call SwissCash from Tim. At that time, its 300% profit over 27 months claim sound just too incredible to believe and I left it to one side. Later on, I have old friends calling me who also told me about SwissCash. Not only were they investors, some were also referrers (those who earns a commission by getting others to invest). It peaked my interest because my friends were reaping quite healthy profits from it either being an investor and/or a referrer. Of course, the catch here is that SwissCash is an offshore investment scheme, you basically have to trust your money with the referrer.
Now a quick search in the internet will reveal that a lot of people are calling SwissCash a scam. In Malaysia, some prominent people has been charge with running SwissCash. Now is SwissCash really a scam?
Well, it depends on how you look at it. Most of us would define a scam as some scheme that make your part with your money. However, I do know of many SwissCash investors who have been getting the promised returns monthly. In a way, to these people, it cannot be a scam. Yet there have been reports of referrers running away with the money. Now that is a scam, to those victims. Thus, in such cases, whether it becomes a scam or not depends on the referrers’ honesty to return you the money and profits on time and so on down the pyramid chain. The problem with this is that once someone up the pryramid decides to run away with the money, it will effect everyone else down the line, very risky indeed.
If you question it from a business entity point of view, there are a lot of questions waiting to be answered.
The foremost would be “What are their investment portfolio like?” A detailed look at the SwissCash website tells you that they invests in the money in various places like equities, forex and hedging amongst others. That is so much details you will know from the website. If you ask any of their referrers, you may probably only hear as much if not less. To be fair, how many of us really bother about what companies do with our money as long as we get the returns? Do you know in details exactly where your, e.g. AIG insurance investment funds are going? I don’t. However, they do send you their portfolio of their investments and profit and loss in an annual booklet. Can SwissCash produce the same on demand? Have you seen it?
Now, it tries very hard to make itself sound legitimate with the “swiss” brand, when it is neither a swiss company nor does it operate in Switzerland. In fact, the company is registered in the Dominican Republic with a PO box address and have an office address in New York, which looks like a small suite rather than a $9 billion company.
Google Answers have a good breakdown investigation of this issue.
Barclay’s Bank is named as the beneficiary bank… sound legit right? Actually, this is no more than telling me that POSB is the beneficiary bank. You open an account there, its becomes beneficiary bank simple as that. Interestingly, SwissCash does not hold an account there, another company called SMF International Limited does. Its registered in the Bahamas. Hmmm…
We have not even talked about its claim of being a $9 billion company, a CEO that nobody has heard of or even seen, its cheapo looking website and if SwissCash investments really works, why aren’t other investment banks doing the same?
If it is a scam, how could people be actually be earning profits from their investments? Shouldn’t scams be taking money away from people and, like, disappearing?
How SwissCash most likely operates is through a Ponzi Scheme. Organisations operating such schemes does not invest your money anywhere. How investors can keep getting their profits is through reinvestments by others and the continual introduction of new investors. In other words, the profits earned from investments is actually some other person’s investments or reinvestments. However, once the investors starts to slow down and people are cashing out their investment, it will collapse. Those who are referring at the early stages of the scheme will benefit the most as they are at the top of the pyramid.
What do I think about this? As the saying goes, “If $1 million drop down on your laps, wouldn’t you want to take it?” SwissCash is still in its early stages, if I really need that extra buck and I know I will get the promised returns at this stage why not? However, I don’t really need that extra buck at the moment. Even then, knowing how some (or a lot of) people may loose a lots of money when the scheme finally collapse, I wouldn’t like it knowing that their money was in my pocket, even though it may be 5 years down the road.
I think people genuinely believe that SwissCash work for them and that they are helping themselves and their investors. There is a magic to it that makes you want to believe that it works and the magic is the high and quick turnover of your investments, totally against what other greedy investments banks have been trying to make you believe about investments, with their puny and tiny returns. Down with those greedy CEOs, their big houses and their expensive sports cars!
If you really want to be an investor, well, as in all financial advise, always invest your spare cash, not the money you really need to use. So that if anything goes wrong, you don’t have to jump into an oncoming train.
If you are referrer now, my advise is to get out within the 2 years after you have earned enough. And for the next few years, try to distance yourself from the scheme and the people who have invested through you. Unfortunately, some of them will be your good friends and relatives.
I hope that I am not making a moral judgement here, my own decision not to be an investor or referrer in SwissCash has more to do with selfish self-preservation then moral righteousness. As a Buddhist, I (simplistically speaking) believe it earning good Karma credits and I certainly don’t want to know that I am getting bad brownie points for this and neither do I want people chasing me for their money in the next life.
I agree with your logic. This investment is flourishing as more and more people get on board.
Other interesting observation is that recently the swisscash operators, have changed their website domain for some reason.
In their FAQ they state that they are using an encryption system which works well with their system. No mention of the encryption technology they are using.
The claim to be running this business for decades and I wonder why such a big business, cannot give their actual address.
My referrer explained to me that they are doing business overseas and they dont have to pay the local taxes.
I wonder why the local banks or institution are not encouraging people to join the scheme.
Getting 300% profit means the profits are real high.
The golden rule is that if there is a high profit the risks are equally high.
If you are risk taker and would like to take punt you could give it a shot. Chances are that you may pull through one round and when you see the money returned to you…you will invest more.
Finally, when and if the bubble burst no one knows, as for now its just smooth sailing for the investors who dare to risk.
If you have hard earned money think twice before investing.
HELLO
1:What is insurance of swiss mutual fund ?
2:what is permit of swiss mutual fund in The Commonwealth of Dominica ?
3: please give me telephone number from central office from swiss mutual fund in The Commonwealth of Dominica. no virtual office in New York.
4: please give me perfect address swiss mutual fund in The Commonwealth of Dominica.
thank you very
AMIN AMIRI
Amin Amiri,
I am not promoting SwissCash here, so I will not be able to provide you with the info. Please google for swisscash on the internet if you are interested to find out more.
Metta
KW
Swiss cash is, of course, not the only scam of this nature. There are lots!
Another that my friend has been trying to interest me in offers 1% interest per day. Put in $100, get $1 per day. That’s $365% per year, which is much better than the 300% over 27 months offered by Swiss Cash.
I also met a friend who is into this and his name card describes himself as a “Financial Consultant” when, in fact, he has no financial background, he’s just one of those street wise chaps who know how to make money such as by joining scams during the early stages.
What surprises me is how many supposedly intelligent people - the first friend who tries to get me involved is a high earning professional - firstly do not seem able to smell a rat and, secondly, do not seem to have any morals about profiting from people who will lose their pants at some point in the future.
The attitude is simply “just earn the money while you can”.
hello
swiss mutual fund is one real company in dominica .. you can see and search in the offshore company in dominica.
if you have any question about swiss mutual fund (1948) or product in the this company swisscash .. you can send email to me and i answer about all your question.
my email address: http://www.multi_level_marketing@yahoo.com
best regards
amin
Hi, just to set some records straight:
1) Now SwissCash since April no longer has the 300% returns in 15 month plan. Whatever plan was running, continues to run until it ends in 15 months’ time (except for investors in Singapore, Malaysia and Indonesia, don’t ask, long story). Since April the plan is 25% returns per month until forever, or SwissCash says stop, which ever comes first (it allegely will announce before hand… this is mentioned in the .net website)… effectively, you can think of it as 300% per year returns (or 200% profit)
2) As whatever investment/scheme/insurance plan, etc that you want to get into:
a) do your due diligence, check everything
b) put in whatever you can afford to lose… think lose money first, before think of make money
c) don’t borrow to invest… the interest and repercussions are not worth it… worse still… bankruptcy… yucks!
d) this one applies to SwissCash… do not promote or advertise… it is against the law to gather funds without a license… it is ok to share your experience, the decision must always be made by the potential investor… and never hard-sell or guarantee profits to them. There is no guarantee of profits in any investment… it is always Caveat Emptor.
3) As an investor myself, I urge any other investor, if you want to share your experience of SwissCash, do not share from the standpoint to calculate how much you can make from their commissions. NEVER! Only share if you think this may help them/benefit them/add value to them. It is always thinking on their behalf, for their benefit, and disclose all the risks involved, then allow them to make their own decision.
If they decide to join you, be sure to be responsible for them, because they will likely join YOU, because of the trust in YOU, and you better keep your part of your bargain!
Ultimately, whether anyone joins you or not is irrelevant. You are doing your own investment, or so called investment. You do not need any commissions to make your investment profitable, it can be profitable in time…. if SwissCash is still around tomorrow.
Each day that SwissCash is alive, take it as a bonus, because your investment is something you are ready to lose. Lose, never mind, it’s just money. With effort, money can always be earned through honest means, like a job, etc.
Sorry for being long-winded.
Swisscash SIP25 investment is a scam. I won’t dare to say this if I don’t have solid proof. The fact is that governments, banks, embassy and newspaper have issued warnings against this swisscash investment. The facts speak for itself and I really want to caution everyone who warn to invest in this swisscash SIP25 investment. All the solid evidence from governments, banks, embassy and newspaper are consolidated in http://swisscash-investment-review.blogspot.com
i want to know that swiss cash is a true company?
i want to give 30000$ to this company do you know about this company?
please guid me
shahab karimi
Hi Shahab Karimi,
I think that I have provide some tools in my posting to help you decide whether or not you should or want to invest with Swiss Cash. As with all investment, only invest spare cash that you can afford to lose.
Metta
Kelvin Wong
Swisscash is a scam… Friend of mine invested 10 grand Sing dollars. Withdrew only $3000. They then froze the account for 6 months before the “agent” told my friend that he has no news of the re-opening of the website. And the “agent” now is involved in other forms of businesses. Don’t be fooled by this get-rich-quick scheme.
YES!!!
It is a scam.
My friend in Singapore who invested in SwissCash and EBarrel lost his “investment” when they closed the website link and missing in action.
IT IS A SCAM!!!!!!!!!!!!!