Swisscash matter- 100% Scam period?

With the development of the Internet and the constant growth of the e-commerce people remain sinful letting the greed and avarice lead the dance. As the respond we noticed the considerable increase of the HYIP, of different types and structures. The number of pyramids built in Internet basing on a well-known Ponzi schema is astonishing. In general, they offer a high output on the relatively insignificant input. The percentage of the repayment may vary from 15 to 30 %, the initial investment may begin as low as $100 up to the eternity. Surprising is the fact that so many users shared their bad experience throughout multiple blogs and forums, being aware of the high risk investment into HYIP are continuing to hook up with them, transferring enormous amounts of money, in order to complain later about the losses. Instead of the comment we would cite one of the officials of one of the numeerous HYIP: "High risk - high profit". Once you understand the gist of Ponzi schema you would understand that there is still a tiny possibility to get the promised 300% return on your $100 investment (as in Swisscash), but you have to know exact time when to pull out your money. The problem is that nobody can predict when they would up-anchor and disappear with Your money. The other factor is coming out of the referral system of "recruiting" new "investors". If you by the luck would get your return and your "referred person" won't you would more likely meet the esthetic troubles.
As a bright example of the typical online fiction we would cite the troubleshooter- Swisscash that became extremely "popular" subject of blogs trying to figure out if it is "scam' or not".
First of all, the popularity of Swisscash and its affiliates is partly determined by an awesome PR campaign. The chosen name played a significant role in it: in the brain of any person anything related to "Swiss-" especially related to financial institutes is associated with proven stability, irreproachable reputation, decent history of establishment and processed transactions. The officials of Switzerland had declared they have no relation and warned the investors about high risks of loss.
Swisscash opened gates for the modest investors, who had only $100 in the pocket. It gave them the opportunity to enlarge the stream of the investments. They developed different investment plans:
SIP 20% monthly average interest for 15 months = 300%
(for the investment less than $1000)
For the investors who are ready to risk $1000 and over - they offered additional plans:
SAP10% referral commission of referred investors. Instant withdrawal
(first and the most obvious sign of the typical Ponzi schema)
SRP10% of referrals increasing with monthly interest. Withdraw monthly
SFP10% of monthly group volume for every $10,000 matched each side.
Once you registered you have two weeks to deposit the initial amount of investment plus the $30 for the activation fee. The company stated that they have repaid to every single investor since 2005. In accordance to the declarations of company officials "pooled funds are invested in development projects, hedge funds, high-yield investments, foreign exchange market".
However, once you get a closer look you would understand that Swisscash is nothing more than a fiction.
1. In accordance to the Swisscash.net the company operates the investment fund dated 1948 with at least $9 - billion dollars in assets, operated by Mike Mansfield. However, the web presence of the fund started in 2005 and the domain of the fund swissmutualfund.biz was registered only for one year in June 12, 2005.
2. Name of Mike Mansfield is correlated to the CO-CEO, or Fund Management Principal of Mansfield Vision Capital Management Corporation with the headquarters located in Miami, Florida. So it's not quit clear who is this mysterious guy - CEO of illusory Swiss Mutual Fund or Fund Management Principal of Vision Capital Management corporation. In addition, on the web site Swisscash.net the posted pictures of people and images are unrelated to the company and even a "recent" picture of Mr. Mansfield creates an impression that we are dealing either with two different persons either he is the example of the multiple plastic surgeries.
3. Talking about the location of the company - it was stated that the headquarters are located in Madison, New York. However, you wouldn't find the name of the company in the New York business directory. At the same time one of the numerous bloggers shared he personally left to the office location where he found the travel agency. The phone number posted in the web is happened to be a Verizon Wireless network cell phone that would never answer. It was later stated that the company is based in Roseau, Dominican and is licensed by the Dominican government; Central Bank of Dominican and the Securities Commission of Dominican that supposedly ensure the correlation of banks, trusts and securities, investment advisor to international standards. However, once you check the directory of Dominican you would find out that Dominican doesn't have Central Bank and is using the services of the regional banks.
Plus you wouldn't be able to find any mentioning about Swisscash in the international directory of let's say Yahoo. To make the company look like legitimate they have posted stock market charters from Yahoo, but as we all understand any web operator is able to do so. Swisscash is not listed in Dual Bradstreet directory of more than 25 mln global businesses. Don't you think that the company with $9 bln assets would miss the opportunity to list itself amongst the most powerful global businesses? It is not even mentioned with US Security and Exchange commissions that lists thousands of global companies.
4. Recently in the article related to e-Gold we have mentioned that it looks already suspicious when the company claims to have billions in assets without stating the location of their storage and the name of the audit responsible for the numbers' verification.
One of the bloggers mentions that at the end of the summer 2007 he attended the seminar PWTC with Swisscash Investment Strategist as sponsor. One of the employee of said company even left his business card (as a mockery). Later, once the SwissCash investors faced the troubles with getting paid back, the blogger tried to reach this person in order to receive a suitable explanation. As of reply to his request he received a rude answer that it is not of his business, in fact the blogger claimed that he had invested $2000 - doesn't look that he was a stranger and definitely had the right to understand the current situation. But helas!
Couple month ago Malaysian Securities Commission posted a notice regarding the worldwide "Mareva injunction" barring Swisscash and its associates from any transaction services and soliciting investments, as well as from disposing of their assets in and outside of Malaysia. The state also addressed to the court to fill a civil suit against Swiss Mutual fund, SMF International Limited. In accordance to it the company would be more likely forced to disclose the information of all their assets both in Malaysia and outside the country and of the companies they are incorporated with the operating bank accounts. The government of Singapore had posted the similar warning. From one side the fact the government had somehow reacted is great but as usual the taken actions are usually delayed. It seems like the officials just intend to wash their hands limiting their responsibility with simple warnings instead of serious legal actions via people well-known to them. The other thing we can't forget is that sometimes the founders of such scam are wealthy people tightly linked with the government and officials (example, billionaire Michael Lee, founder of Worldwise investment)
Many "lucky investors" try to find out the current situation with their repayments. As the answer we would cite one of the bloggers who basing on the content might be related to Mr. Mansfield: "Swisscash is still under operation of legal institute developing the offshore country Commonwealth of Dominicana, Swiss Mutual fund (1948). All of Swisscash investors are happy about the delivery of each promise (300% return, SMS service, TAP, mobile banking - new product every year...) (just wonder from which phone sms are sent - from the one that doesn't answer? - N. ). Swisscash - our future, going to SMF 2010 vision and mission creating 1 million millionaires in Swisscash! Any comments or flames, flashes you may email: mhhafeez_online (at) yahoo.com. (as you can understand none of the e-mails sent to this address have ever been answered)
It has been posted that from January 5th, 2008 Swisscash would come out with the new web features tighten up with Suntraders "where investors would be paid monthly commissions through bank transfer or wiring. It would be a new generation of the online product and a free web to sell your own stuff". They try to ensure the investors that they would add e-points (monthly commission) as per old plan SIP 25% till December.
Leaders of the FSC of Philippines and Singapore had already warned the company about the possible legal actions that would be applied in case of disclosure the personal information to Suntraders. However, in January 15, 2008 in other blog there was information that the new server crashed with all customer information during its transfer to Suntrader server. It shall be fixed by February 25...
Just as of remark, it is already not the first time Swisscash excuses from non-paying its investors or simply ignoring their requests. Even this hereabove information was posted in the forum, informal channel, by unregistered bloggers and, of course, can't be considered as an official statement.
Despite the numerous warning of potential losses the greed and the promise to get rich as well as unregulated from the legal point of view online institute developped a fruitful field to plant thousands of HYIP, majority of them is scam, but at the same time we can't ignore the fact that within last couple months HYIP remains one of the biggest challenges. So "invest at your own risk".