SwissCash Scam Busted

Two Datuks held over Internet scam

KUALA LUMPUR: Two Datuks and six others have been placed under remand to help investigations into a get-rich-quick scheme that allegedly promised “huge returns for a minimum investment.”

The Datuks, aged 47 and 57, were produced before a magistrate’s here yesterday together with the others, aged 26 to 58, after their arrest on Monday.

Magistrate Azniza Mohd Ali ordered them to be remanded for five days, until Oct 7.

The police are investigating the case under Section 420 of the Penal Code for cheating.

The alleged scam, known as SwissCash or Swiss Mutual Fund (1948), was uncovered early last month and reported in a Malay tabloid.

Over 50,000 people have purportedly signed up for the scheme since its introduction in April last year.

The Swiss Embassy here has denied that its government had approved the scheme and also rebuffed claims that it was based in Switzerland.

SwissCash, which operates through the Internet, claims to be an “easy, fast and secure scheme.”

It claimed investors’ funds were channelled to business activities ranging from oil exploration to shipping and agriculture in the Caribbean.

Investors are required to pay a registration fee of US$30 (RM110) to join the scheme, which allegedly offers huge returns for a minimum investment of US$100 (RM370).

Those behind the scheme also claimed that investments of US$1,000 (RM3,700) or more could earn a profit of up to 300% after 15 months.

However, after the report appeared in the tabloid, the Securities Commission and Bank Negara released statements saying SwissCash had no licence to collect funds.

Prime Minister Datuk Seri Abdullah Ahmad Badawi also issued a statement calling on those duped by the scam to quickly lodge reports.

Among the scheme’s purported victims are a lawyer, a consultant, a technician and the secretary-general of a government ministry. They claimed they had been cheated of nearly RM20mil.

taken from

My own domain and my first self owned blogsite =p

Gee… it’s definately not easy to build a blog site. Too much things to figure out. The domain name, the software to use… Not to mention the layout and stuffs….  Copied some of the old blogs which I had on friendster…. Looking through all those codes is not an easy job. It’s 5:39am now.. and i’ve gotta go to church at 8am.  I’ll be leaving Seremban tomorrow and back to KL… Have to leave the blog unattended for a week cos there’s no Internet connection at my apartment in KL…

Anyway, this site do need some comment and suggestions… Feel free to praise, criticize or whatsoever… All comments are welcome~~

Blog number 2

(i have no idea why i started blogging LoL…)

went out to Starbuckz with moi friends last nite… gotta ignore the pain while i get my regular doze of choc frap.. finally get to sit at the cozy sofa that could accomodate 4-5 person… usually there will be some couple sitting there… total waste of space when they only utilise only 2 of the 4 seats there… we don’t wanna share tables and sitting with strangers…

anyway, all i can say is that Starbucks in Seremban is not as good as those in KL or in Genting. The taste of my choc frap is forever changing and i don’t always get the same taste whenever i go there… Geez… did they discontinued fraps with rhumba chips or do they even know there’s such drinks in their menu? sigh.. i had it months back at the same place and they told me there’s no such thing.. *swt* the cashier said i’ll have to wait till next month for them to introduce a new drink (which i presume it’s gonna be the frap with rhumba chips).. meanwhile, they’re makin way for their BANANA frap.. OmG!!! I don’t think i wanna have that down my throat…

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