83:"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)."
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On 21 December 2011, in its final status report to the Kuala Lumpur High Court, the
Securities Commission Malaysia revealed that it had completed the distribution of the Swisscash settlement sum of RM 30.5 million to 19,625 eligible investors. Prior to the final settlement, a total of 29,885 claims
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On 25 September 2008, the
Securities Commission Malaysia obtained a High Court judgement against three defendants involved in the Swiss Cash investment scam. The court restrained them from carrying on the Swisscash business and ordered them to pay US$ 83 million and any further amounts to be traced
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Hundreds of millions of US dollars have been lost to this scam by investors throughout the world and little or nothing has been done by governments to trace the trail of the money. It is feared that the money is actually used to fund global terrorist networks, and that terrorist networks have been
151:. The Central Bank of Malaysia has issued warnings regarding Swiss Mutual Fund's legitimacy, and have advised investors to avoid the company and its subsidiaries. The Monetary Authority of Singapore has placed Swiss Mutual Fund in their Investor Alert List.
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On 17 September 2007, the
Financial Supervision Commission of the Commonwealth of Dominica issued a press release, which confirms that Swisscash is not a registered or incorporated company and does not have any established business in the island nation.
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said that the Swiss Mutual Fund was not licensed to accept deposits and carry out asset management activities or investment advisory services in
Malaysia. Both institutions jointly issued a warning to the public against investing with Swiss Cash.
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On 6 November 2009, the
Securities Commission Malaysia entered into consent judgement with those involved to pay a sum of approximately RM 31 million to eligible investors who have suffered losses as a result of the Swiss Cash scam.
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On 27 August 2007, the
Swisscash website suddenly went offline denying members from logging into the website. According to Internet rumors, the website was down due to a
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in its name, the Swiss Mutual Fund's board of directors is composed solely of
Dominican citizens, and the company does not appear to have any significant ties to
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359:"Swisscash: Landmark judgement for the SC- Monies overseas to be traced and repatriatedSecurities Commission Malaysia | Securities Commission Malaysia"
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On 13 December 2006, Swiss Mutual Fund (1948) S.A. was struck off the
Commonwealth of Dominica's Register of International Business Companies.
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407:"SC obtains RM31 million for investors in Swisscash settlementSecurities Commission Malaysia | Securities Commission Malaysia"
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The current version of the Swiss Mutual Fund website no longer includes any information about the company's history.
300:"Public Notice issued by Commonwealth of Dominica – Swiss Mutual Fund (1948) S.A. - Isle of Man Public Services -"
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A full list of warnings posted by
Newspapers, government, finance agencies about Swiss Cash/ Swiss Mutual Fund
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383:"Swisscash Investment Scam Settlement: FAQSSecurities Commission Malaysia | Securities Commission Malaysia"
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amounting to RM 188 million were received from
Malaysian and foreign investors of the Swiss Mutual Fund.
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against the Swiss Cash operators to prevent them from disposing their assets in and outside of Malaysia.
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431:"Swisscash Investor Restitution UpdateSecurities Commission Malaysia | Securities Commission Malaysia"
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176:"Swisscash Internet Investment Scam: Frequently Asked Questions | Securities Commission Malaysia"
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using investment scams to obtain fund for their operations. Or some governments are behind this.
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324:"Public Notice issued by Commonwealth of Dominica – SwissCash - Isle of Man Public Services -"
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due to changes in financial regulations in Europe. However the Swiss Embassy in
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Swiss Mutual Fund originally claimed on its website that it was created after
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http://www.gov.im/lib/docs/fsc/PublicWarnings/dominicanoticeswisscash2.pdf
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This information was also corroborated by the Swiss Embassy in Singapore.
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http://www.gov.im/lib/docs/fsc/PublicWarnings/dominicaswissmutualfund.pdf
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On 21 June 2007, the Securities Commission Malaysia obtained a worldwide
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in 1948 by the Cheviot family of France, with operations based in
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480:"| Bank Negara Malaysia | Central Bank of Malaysia"
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There have been allegations that the Swiss Mutual Fund is a
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for the purpose of compensating the investors of the scam.
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575:Investment management companies of Dominica
252:"Embassy of Switzerland - Kuala Lumpur"
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277:Information about Misleading Publicity
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71:. In 1996, the firm moved to the
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147:, with victims predominantly in
254:. May 18, 2006. Archived from
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226:"Welcome to SWISS MUTUAL FUND"
202:. Jun 14, 2007. Archived from
200:"Welcome to SWISS MUTUAL FUND"
96:Securities Commission Malaysia
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32:company headquartered in the
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570:Pyramid and Ponzi schemes
531:Cite uses generic title (
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73:Commonwealth of Dominica
34:Commonwealth of Dominica
555:Swisscash Investigation
40:taking place in 2000s.
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509:www.moneysense.gov.sg
90:On 5 September 2006,
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92:Bank Negara Malaysia
30:offshore investment
107:Mareva injunction
18:Swiss Mutual Fund
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38:Ponzi schemes
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77:Kuala Lumpur
61:World War II
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69:Switzerland
49:Switzerland
564:Categories
465:2007-01-29
440:2018-06-18
416:2018-06-18
392:2018-06-18
368:2018-06-18
333:2018-06-18
328:www.gov.im
309:2018-06-18
304:www.gov.im
185:2018-06-18
159:References
22:Swiss Cash
139:Criticism
114:hurricane
26:Swisscash
524:cite web
149:Malaysia
94:and the
28:, is an
55:History
514:Feb 7,
489:Feb 7,
262:Feb 7,
236:Feb 7,
210:Feb 7,
505:"404"
45:Swiss
533:help
516:2019
491:2019
264:2019
238:2019
212:2019
65:Bern
16:The
24:or
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