Thread: SwissCash/SwissMutualFund/ESuisseFund

SwissCash PIMPS Arrested In China

Police bust biggest online pyramid scheme -- Shanghai Daily | 上海日报 -- English Window to China News

Originally Posted by ShanghaiDaily

Police bust biggest online pyramid scheme

by Winny Wang 2007-8-30

SHANDONG police have cracked China's biggest online sales scam, which involved more than 170,000 people and 1.36 Billion yuan (US$180 Million), the People's daily reported today.

Prosecutors have accused two suspects, Wei Lixin and Cheng Yong, with running the pyramid selling scam, the report said.

An unnamed resident told the Industrial and Commercial Bureau in Taian City in May that someone persuaded him to invest 8,000 Yuan in a "Swiss Mutual Fund" and promised a 400,000-yuan return after 30 months, the report said.

Taian Law Enforcement department found the so called "Swiss Mutual Fund" was never registered with the China Securities Regulatory Commission , the Ministry of Civil Affairs or China's Central Bank, the report said.

After investigation, local authorities found the participants earned money by drawing profits from lower-level participants, which is the same mode of pyramid selling, the report said.

The suspects confessed they charged 8,000 Yuan from each person and the sum totaled 1.36 Billion Yuan , the report said.

China's Ministry of Public Security busted more than 17,000 illegal pyramid schemes worth 10 Billion yuan in the first half of this year, and about 16,000 suspects were caught.

That's not all , checkout these other reports.

Violent Gangs Attack Police Station in Hebei
Violent gang attacks police station in Hebei -- Shanghai Daily | 上海日报 -- English Window to China News

China To wage War against Pyramid Sales
China to wage war against pyramid sales -- Shanghai Daily | 上海日报 -- English Window to China News

14 Arrested for US$200m Involved In Pyramid Scheme
14 arrested for US$200m involved pyramid scheme -- Shanghai Daily | 上海日报 -- English Window to China News

These links below need to be accessed from the archives by online subscribers , but it does illustrate how China deals with scammers. They do not get a slap on the wrist and a meager fine. They go to prison and are put to death in extreme cases.

Police Attacked in Jinagxi 2007-04-14
Man Sentenced To Death In 3B Ant Fraud Case
2007-02-15
Pyramid Sales 2007-02-12
Police bust 500,000 men in Pyramid Sales Scam 2006-10-23
Pyramid sales Gang Attack Police 2006-08-25

On an interesting note , today it has been rumored by individuals who claim to have contact with bigtime leaders of this scam , that in the new SwissCash website , the company has done away with the Chinese Banking Gateway in favour of a Swiss Banking gateway. Geewiz , I wonder why ???

You people out there who were screwed by these high profile promoters need to contact the authorities of the governments these scam artist reside in and give over their Contact Info and Banking Info , where they conned you in to forking over your family's hard earned monies , if you ever want to see it again.

Cheers ,

On this busting of Scam artists many mountains away... they will soon see many moons behind bars too awaiting their fate!!! I ponder their future outlook esp.those who were rounded up and placed in cells facing an uncertain future....

I can't take this outburst (some will certainly point it at BP) to be a far cry from him but it IS NOT him voicing out...!!!

Be courageous and sensible and take it out or on with the Authorities that busted the operators and not start squealing like a spoiled delinquent pointing your anger at the Messenger who tries to caution many more naive and completely ignorant low-income seeking a financial future...by hook or by crook and become the perfect victims for these Scammers!!!


170,000 Chinese.... holy noodles!!! Is that enough to line them all up along the Great Wall of China?

Originally Posted by YogiBrood

On this busting of Scam artists many mountains away... they will soon see many moons behind bars too awaiting their fate!!! I ponder their future outlook esp.those who were rounded up and placed in cells facing an uncertain future....

I can't take this outburst (some will certainly point it at BP) to be a far cry from him but it IS NOT him voicing out...!!!

Be courageous and sensible and take it out or on with the Authorities that busted the operators and not start squealing like a spoiled delinquent pointing your anger at the Messenger who tries to caution many more naive and completely ignorant low-income seeking a financial future...by hook or by crook and become the perfect victims for these Scammers!!!


170,000 Chinese.... holy noodles!!! Is that enough to line them all up along the Great Wall of China?

There Are Many "Fake SwissCash/SwissMutualFund(1948) websites(scammers). But, the Real SwissCash/SwissMutualFund(1948) Has Never "Scammed".

pinetree

Originally Posted by Pinetree

There are many "Fake SwissCash / SwissMutualFund(1948) websites(scammers). But SwissCash/ MutualFundFund(1948) Has Never "Scammed".

Pinetree

The Hackers & Scammers come from with inside this criminal organization themselves and not from outside sources. There are no differences between the Scam websites now and the original SCAM websites of swisscash.net , swissmutualfund.biz , sip25.com , scmutualfund.com , bulldozer25.com or scsupport.net.

Albert Lee , Kelvin Choo , Amir Bin Hassan

along with SwissMutualFund (1940 Anything or Nothing ) SMF International Ltd , Dynamic Revolution Inc , Hundreds of their PIMPS ( Including YOU ) have scammed people right & left with every kind of Scuzbag opportunity crap which floating down the sewer and you all shouted for everyone to jump on. Go ahead folks , research all these people and thier notorious activities.

Why don't you go to Bejing , China and make an oppointment with officials of the Peoples Republic of China , and inform them how wrong they are as to their view of your precious opportunity. I'm sure Chinese officials would be more than happy to entertain a selfrightious citizen from the Empire of the Sun telling them what murderous sleazebags they are for arresting some of your buddies. I have it on good authority , that they have an effectionate spot in their heart for your lot.

Go For It We're All Behind You. Maybe we'll get Yogi to oversee a "Send Pinetree to China Fund" and we'll all chip in for the one way ticket.

Once again folks , Do the research , as it should be easy now. News and information seems to be flowing out from every country now a days.

Dogpile Web Search Home Page

Cheers,

i want to know about swisscash now., are they still paying or not

The last big payouts went to PIMPS just before the August 18th shut down. Where have you been ???

He certainly have missed that slow paymaster cash boat to China...which somehow took off at quantum speed ...and out of sight...coz the guillotine, (the Made in China version) is on their heels I guess...

Originally Posted by pinetree

There Are Many "Fake SwissCash/SwissMutualFund(1948) websites(scammers). But, the Real SwissCash/SwissMutualFund(1948) Has Never "Scammed".

pinetree

There is no real Swiss Cash or Mutual fund.Never has been ! Read on for the latest news on the scam.


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.
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Already thought that it would be a scam...
You see it on the way people promote it..
If they keep on saying yeah got paid twenty times a day.
Then an alarm has to rinkle.
Annyway hope that not to mutch people have lost they're money with this scam?

Anyway... mostly these wealth generators are scams when "too good to be true" feels... PIPS is also a scam... long trials and never ending trials and no results at all...Authorities don jus crazily detained people who made lots of wealth unless of course ifs these monies are xxx...