Hyip weekly report – What is actually going on behind Oceanside Wealth

Last week we wrote about the instruction that you can follow if you wish to submit refund request for a program called Oceanside Wealth. The admin of Oceanside Wealth has given various excuses and put the blame on SolidTrustPay for the problems that they were facing and for delaying or not honoring the vast majority of refund requests. Some of the excuses were they claimed that their funds in SolidTrustPay have been frozen, they wanted to change the username of the account which was ‘BigBadBoy’ as it did not sound appropriate, they have forgotten the secondary passwords and so on. Consequence from that, more and more members made complaints to SolidTrustPay.

The admin of SolidTrustPay came up with explanation of what is going on actually with the Oceanside Wealth’s account, funds, management, as well as the situation between Oceanside Wealth and SolidTrustPay in order to clear things up. Here is the explanation from SolidTrustPay:

1) OceanSideWealth has a fully bank verified account with STPay and have in fact already initiated large amounts of ACH transfers OUT of their account. Their original account, "bigbadboy" is NOT a verified account as the account owner has never added any banking information to their profile so we have nothing to check it against. Our verifications department has asked them to input this information and to date, it has never been done?

2) The company asked us to create a new account with a different username, as "bigbadboy" was not appropriate. I was told by the company owner directly on a phone conversation that they no longer wished to use that username, and that their programmer would be changing the script so that their API pointed to the new, more appropriate, username?

3) The owner (whom I have spoken to personally) has my direct, private email and I have not heard from him in over 3 weeks. He also has my direct phone number. We have received NO EMAILS and NO PHONE CALLS from this company!?

4) We have received numerous complaints about this program from people requesting refunds. To date, very few refunds have been issued to STPay members and we have NOT removed ANY funds from either account?

5) NO funds are frozen in the accounts AT ALL. I personally created the new username account and moved funds from the original one at no charge and with no transfer fee?

6) I have left phone messages on the personal cell phone of the owner of this program and no calls have been returned to me?

7) Secondary passwords are never lost or misplaced - if the user cannot remember it or has not written it down they do have to contact us for a re-issuance. Our security department has issued 3 new secondary passwords to this company at their request?

Their mention of lawyers and legal proceedings is just plain silly. Their accounts are NOT frozen, or suspended or anything and, as mentioned, we have had NO contact. All we HAVE had is a host of complaints and refund requests?

We have NOT removed ANY funds from this account and the admin is not answering my phone calls?

If this company wishes to use SolidTrust Pay they are certainly welcome to. But if they do not wish to use our services, it is NOT for the many reasons they state below?

I again invite any forum moderator or the company owner to contact me directly via phone or email. They have my personal email on file?

Any OceanSideWealth member with comments or questions is welcome to write: with any issues or comments?

Malaysian local newspaper published news regarding the follow up on SwissCash the Securities Commission of Malaysia had filed legal cases against them since early of last year. According to the news, they received the court order that will enforce the defendants to transfer funds which are in the oversea banks to the local banks. Once transferred to the local bank, the funds will be held safely, and within the jurisdiction of the Malaysian courts. The news as follow:

“DAILY EXPRESS NEWS

SC to resolve Swisscash case soon

13 August, 2008

Kuala Lumpur: The Securities Commission (SC) is trying to resolve the RM35 million Swisscash monies case as soon as possible, said its chairman Datuk Zarinah Anwar.

"We have frozen all the accounts and we have seized all the monies, which were illegally obtained. (Now) we are trying to resolve the case as soon as possible," she said, when asked on the latest development of the case, which was reported in 2007.

The SC last year achieved a breakthrough in its civil enforcement case against Swisscash Internet investment scheme when it secured a court order to direct one of the defendants, Amir Hassan, to transfer back to Malaysia all Swisscash monies held in bank accounts overseas.

Approximately RM35 million was held in six bank accounts in Hong Kong and eight bank accounts in Singapore.

As Swisscash is a worldwide scam that operates in the borderless Internet realm, the SC is working closely with regulators from seven other countries to combat these illegal activities, the SC said in a statement last year.

It said this cross-jurisdictional collaboration has led to the discovery of valuable information that has facilitated investigations.

Once transferred back to Malaysia, the monies will be subjected to the worldwide Mareva freezing orders pending the outcome of civil proceedings filed by the SC early 2007 against Amir Hassan, Albert Lee Kee Sien, Kelvin Choo Mun Hoe, Dynamic Revolution Sdn Bhd, Swiss Mutual Fund (1948) S.A., SMF International Limited and SMF (1948) International Ltd.

This achievement in SC's civil proceedings ensures that Swisscash monies are held safely, and within the jurisdiction of the Malaysian courts so they can be subjected to any order made in the proceedings.

- Bernama”

Meanwhile, regardless the numerous scam warning all over the internet and on newspaper all around the world, SwissCash is still alive. The website is up again, running and ready to grab more victims. On the website it stated that all current members are required to activate their Ids by log in to the website and they can do so by using their old log in details.

The admin said that the creation of a new platform has completed and they are in the process of integrating the old members’ log in and account details with the new platform. Swisscash also now introduced a new plan where members will be receiving 25% profit monthly, 10% commission, 10 % bonus, 10% revenue as well as 0.10% daily profit payout. The admin also claimed that they are partnering with Asia Pacific Capital Investment Ltd. and SUN Financial Systems for their coming projects.

Do not believe each and every claimant made by SwissCash. It is a proven ponzi or pyramid scheme and the authorities are chasing after them.