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| *Ostroff, Fair and Company>>>Investing |
Swisscash returns? |
I am from Singapore. I invested $5000 some time last year. Suddenly all my investment has been converted to ACF shares in May 2007. Which mean there is no more monthly returns and not more internal or out-going transfer. Adviced that I am only allow to sell the shares by October. Been sending ticket messages and emails to SC support, but no response. Can anybody advice what happened? And is it applied to all Global investors? My impression is that they are a scam. They are not registered in Switzerland. The Swiss embassy says it is obvious that this company uses the term "Swiss" in an illegal and fraudulent way to attract customers. The Securities Commission of Malaysia says they are operating illegally in Malaysia. No one can honestly offer rates that high. Use your common sense. They are a scam. Many schemes like this temporarily pay out interest to lure people in. This type of scam is called a "Ponzi" scheme after the first person to do it, Charles Ponzi. However, at some point, they take your money and run. You should ask for your money back. However, chances are it is gone forever. See the links below: Sources: http://www.eda.admin.ch/eda/en/home/reps... http://www.bnm.gov.my/index.php?ch=8&pg=... http://www.worldlawdirect.com/article/19... http://skepdic.com/ponzi.htmlfine print Swisscash is a scam If you can...sell all and take your losses Soon (if not now) you will have nothing lol...goes to show u that there is no such "sure" thing in life. i guess u never heard of the saying..if it is true good to be true..it proabably aint true. The swiss cash scheme is actually illegal in Malaysia. Its not approved by our Central Bank. I am an Australian Investor, My old SIP plan is still the same. I have invested another 11K US into the new SIP25 plan and both plans are still being paid on time monthly. With the ACF shares I have invested a bit over 40K US and that can not be sold till oct the 1st, which I only found out later when I tried to sell. I tried sending tickets but like you I don't get replies as well. With internal transfers and out going transfers you should still be able to do it providing you have e-points to trade. |
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