We have seen too much trouble caused by DCHL distributing Lampe Berger in Malaysia. It's time to hit back at this unethical MLM network marketing business pyramid plan.
Swiss Cash Pyramid Scam
This is serious to warrant attention.
http://www.swisscash.biz/Web/asc_company.aspx
Warning: Do not invest in this scam. It's worst than Lampe Berger. There's no products involved.
There's no such thing as 10% monthly returns and more.
Please tell your friends, or close contacts on this.
posted by Steven Yip at 12:01 AM
22 Comments:
The returns seem too good to be true but their website claims that "Principal guaranteed by Swiss Mutual Fund(1948)". Guess we need a Swiss Lawyer to tell us what the Swiss Mutual Fund(1948)is all about.
-preacher-
Here's the statement from Switzerland's embassy in Malaysia
http://www.eda.admin.ch/kualalumpur_emb/e/home.p.html
There's no such company over there.
And check out this forum.
http://forums.cjb.net/dreamkaya-forum-30.html
There's tons of Malaysians into this.
As long as GREED exists, these Get Rich Quick industry will continue to flourish.
As long as the government don't step in, we need to work harder.
Oh no! not another one!
Darn these get rich quick scams!
My friend was doing quite okay retailing in Amway as her business team emphasise more on selling/profitability rather than recruiting. Being a friend, I supported her and bought some products.
Then she recently asked to borrow quite a sum from me. I was surprised as I know that Amway does not allow distributors to stock up (70% of products bought must be sold/retailed, not consumed/used).
When I asked her about that she admitted she joined LB because it seems to give more returns and is faster than Amway.
I almost gave her the sum she asked for until I asked to see the plan for LB. As soon as I realized it was a recruiting system, I was like... hell, no! I told her if you want me to buy products from you, by all means, but don't dump 30k into something that does not guarantee a return!
Needless to say, she was pissed at me for not supporting her!
But seriously, anyone who's seen the LB plan should know that this is a pyramid! I thought M'sia banned pyramid schemes? How did this one (and questnet and lots of others) get through?
Ii doesn't worry me if there are people out there who work hard at direct selling, making an honest buck, retailing products Amway, Avon, Elken and the like. But there are just too many others that thrive on the recruiting side of the direct selling business. The purpose of "recruits" is that if people like what you do (sales) and want to do the same to earn some cash on the side, then you can help them and at the same time, earn a small incentive by doing so. Not MINDLESS recruiting and "selling business" that does not even have a strong product/service to base upon.
How can a business claim to be a business without products and services that meets the demand of the market place? A bloody (excuse my language) aroma lamp is the last thing I want in my house.
This is what you call a true PONZI SCHEME.
Amway distributors are using such system too. The Company just keep a closed eye.
Really? I didn't know that! My uncles and aunts, friends, housemates, and the list goes on.. are in Amway, so I know quite a fair bit. However, none of them do recruiting. In fact, I've been "coaxed" to attend their seminars/meetings and it is often stressed that you're supposed to retail not recruit.
I guess this boils down to ethical and unethical distributors. I've read the rule book and seriously, they mean business!
Too bad I don't like selling and I'm no good at it. Seriously, though, if anyone wants to do any of these stuff, I'd put more faith in Amway than any other MLM.
hi val,
Amway is a bit different. If you realize, the network (once again we don't blame Amway) like Network 21 is making money selling motivational materials to the members.
They will stress, "see how many books and cassettes we have read and listen" to be where we are...
Isn't it a bit weird, for someone to treat motivational materials as Cost of doing business?
Ah! I see. Thanks for giving me a clearer picture... I asked my friend about the 'recruiting' system and she explained that there are many organisations out there doing this.
After listening to her explaination I realized that no matter what sort of "good" MLM/direct selling there is, there will ALWAYS be some unethical creep that tries to make money by manipulating the system.
It is because of the unethical people in this line that has made my friend face some difficulty in her direct selling business, even though her organisation and herself runs it the proper way as taught by Amway.
Your site is a real eye-opener! At least now we can tell what is for real and what is not. =)
About the motivational tools as cost of doing business - you CAN legally write off tax for that. My dad is a financial investor/financial advisor, so he reads massively and the books he bought can be written off tax as business expense.
According to my dad, as long as you OWN a legal business that is registered with the ROB, then you are allowed to claim motivational materials as business cost.
My friend registered an enterprise and conducts her business through her own company. The way she looks at her direct selling business is that Amway is her supplier and she conducts a legal business. Therefore, she can legally write off motivational materials as business expense. =)
Well, if some unethical people who do not actually do any sales in Amway does register an enterprise mainly to write off the amount of motivational tools they spend on as business expense... well, there is nothing much that can be done about that, can it? Sigh...
As yowchuan said: long as people are greedy, there will always be people who come up with these scams or look for a flaw/loophole in proper ones.
hi val,
thanks for the input. If you put it that way, I agree with you.
But sometimes, it makes me wonder if all they really care is selling you books, cassettes, and quarterly gathering at the hotel (cost around 300 bucks), and they really really entice you to come.
checkout http://www.merchantsofdeception.com/
That's a good site! I directed my friends and housmates (who are Amway distributors) to the site and asked if they could "explain" that...
Apparently, I was told that Amway in Asia, Australia/NZ and most of the newer markets operate differently on different principles from Quixtar, which they ALL admit, is 'corrupted'.
Amway here have a different(more strict) set of rules because they want to protect the true values of Amway.
There have been cases where high level distributorship have been terminated due to unethical code of conduct (my aunty's diamond direct).
I was told there's a new rule now (much to my friend's excitement) than BANS recruiting (in an obvious manner). She recently met an ex-Net21, whose organisation has been terminated (part of it) due to her recruiting structure. Cos of that, she quit cos she don't wanna sell.
All in all, I was told to never confuse Amway with Quixtar as Quixtar is only in US/Canada and runs on a different base/structure/rules than Amway. Amway/Quixtar will not set foot in Asia/Australia as there are more distributors actually doing retailing than recruiting.
Well, for those that do focus on motivational stuff only... I heard Amway is running a 'mini-crackdown' as a forewarning. For those who run it like a proper business, good for them! And you know what? Being a client/user, I say that Amway does indeed have the best products I have ever used. And if it's not for the fact that I hate selling, I would have done it. =)
hi all
My friend introduced Swiss Cash to me She said and confirmed that she invested few months back and already receiving the 10% returns??!!
I'm just curious that is this one of those circulation of $$ where the last person will lose all the $$?
Please enlighten me with more cases on actual scam where $$ is invested but no return is received.
Thanks
Confused
Hi,
I m 1 of swisscash investor. i join from january 2006. guys.. pls dont jugde a program which u all dont understand.. pls dont jugde a program is scam only base on ppl opinion.
If u are swisscash member. from this program start till today. none of 1 investor is lossing money here. why ppl do so negative jugde on this paying program. pls do understand wat is offshore investment program. swisscash is not MLM.. it was offshore investment program. pls pls search on web n learn wat is offshore investment program.as offshore investment program ... they can paid within 25% - 40% per month. do learn from it.. and open ur eye on this!!
Swisscash or swiss mutual fund is no need a lincense to operate in malaysia. and they are not register in swiss country anymore.. coz if u knw well on tax issue of the country.. swiss is changing the tax issue on 1993.. that y swiss mutual fund is moving out to dominica country now. do search web again.. dominica country is tax free heaven there.. pls pls do understand swisscash or swiss mutual fund history. search the info only do give comment.. thanks!
every investor is taking their risk to join in here. no ppl is forcing. wat we sad is.. why those negative ppl so care of this? if it was scam.. this program already gone long time ago. scam anot time will proof. will you ppl pls respect those investor still invest there. if u not dare to take risk.. i hope u can respect to those who dare to take the risk.
wat i can tell.. till today i have made $10k over from here. If i not join b4 coz of listen to those ppl bad opinion.. who gonna paid me that $10k earning? pls.. hope ppl do some respect here.. thanks!!
So, whats my friend having right now is fake? Come on man. Can anyone find me 1 post from SC investor saying that SC is scam? Please check the real story from the real people that already achieved financial freedom through SC (see www.cash2catch.com ). All the warning from Bank Negara or even Swiss Embassy doesn't mean that this SC is scam but just for cautious. They're not responsible to any lost or damage for that investment. My advice to risk taker is just put in 100 for testing and wait 1 month to see the result. If you afford to lose this much in stock market why not try this because u might get 300 in return.
Also try search for "offshore investment" and check how much they make money and who actually make money.
Hi,
I m 1 of swisscash investor. i join from january 2006. guys.. pls dont jugde a program which u all dont understand.. pls dont jugde a program is scam only base on ppl opinion. it's not scam for now but sooner or later, the truth will review itself. recently there is a lots of existing members did not receive their TT and was told it was rejected from bank, do u really think so or just another tactic to delay payout? the sign of ponzi is beginning to appear!
If u are swisscash member. from this program start till today. none of 1 investor is lossing money here. why ppl do so negative jugde on this paying program. because agent like u sucking ppl in watever it takes to earn their commission without considering whether they can profit or not. as said based on ponzi scheme, everyone make money but not the newer members. assuming if SC has now reached its end on recruitment, how long do u think it can really sustain? till all their members fully paid 300%? u got to be kidding right? pls do understand wat is offshore investment program. 99% of online scam claimed to be offshore investments swisscash is not MLM.. it was offshore investment program. pls pls search on web n learn wat is offshore investment program.as offshore investment program ... they can paid within 25% - 40% per month. do learn from it.. and open ur eye on this!! my eyes are wide opened, just not sure if urs are. offshore investment does not gurantee profit nor lost. basically SC is ponzi based. if u think u r early, go join, if not, do think twice, coz when less money flow in to do payout, company will use delay tactic to blame on bank, 3rd party processors, etc.. but when the delay go further, eventually members will start to pacnic n attack, well, that's when time SC needs to pull their plug, then those newer/non-profit members have no choice but to end up crying infront of their monitors clicking F5 wishing SC site to be back
Swisscash or swiss mutual fund is no need a lincense to operate in malaysia. and they are not register in swiss country anymore.. coz if u knw well on tax issue of the country..the truth is, swisscash NEVER registered in swiss, it's the lie made by michael mansfields to foul everyone until the truth reviewed then he made another excuses swiss is changing the tax issue on 1993.. that y swiss mutual fund is moving out to dominica country now. do search web again.. dominica country is tax free heaven there.. everyone should know by now tht dominica is the heaven for scammers pls pls do understand swisscash or swiss mutual fund history. search the info only do give comment.. thanks! the history do not hav hard solid proof of what it stands, eg. i can said i made 1mil$ per month n my cheerleaders will take my word for it, simple as that. yet they only started to collecting fund since end of 2005 in traceable records
every investor is taking their risk to join in here. no ppl is forcing. wat we sad is.. why those negative ppl so care of this? if it was scam.. this program already gone long time ago. mansfield is greedy, he wan to collect as much as possible before he gone, that's y he is still here paying u guys 500k$ while collecting 2mil$ per month from new investments scam anot time will proof. will you ppl pls respect those investor still invest there.i will not giv respect to those who earned money from it coz those money u profited is from another investor's hard earn money, hard some moral! but definitely i will giv respect to those who still not profit. actually instead of respect, i pity them to those who still not profit, hope SC will last b4 u get ur capital back or close to for u to breakeven if u not dare to take risk.. i hope u can respect to those who dare to take the risk. here is ur award as a risk taker
wat i can tell.. till today i have made $10k over from here. If i not join b4 coz of listen to those ppl bad opinion.. who gonna paid me that $10k earning? ponzi scheme! ur earning is from fresh money goes into the ponzi scheme, simple as thatpls.. hope ppl do some respect here.. thanks!!
the sign of failure of SC is begin to appear, go n study their new concept. if u still suck ppl in, u are either or both NO HEART n BLIND!
I believe it's a scam. Unlike Amway, Swiss Cash guarantees return and it does not sell any product or services. That's a very big red flag.
Your income comes from the people who have just joined the program, When this supply dries up the scheme WILL collapse.
http://www.sabahan.com/2007/04/17/is-swiss-mutual-fund-swiss-cash-a-scam/
My friend made RM1 million from this program but that does make the program any more legitimate? Hell no.
FOR the rest comment above and the Blogger IT SELF.-Steven YIP
You blog on March 2006 about dont invest on Swiss Cash, BUT TODAY I REPLY YOU ON 8 MAY 2007, do you see how much ppl already make? THE WHOLE PROGRAM COMPLETED as it said! If you will be 1 of the investor on March 2006, you already earning big buck! You already lost a CHANCE!
Swiss CASH already come out the second Program for ppl who dare to take risk and in return, profit. JUST CONTINUE TO WAIT AND SEE another program to COMPLETE in the day to come... continue to think negative LA!
For those welling to take the risk, when ever you want to make MONEY, there is a RISK, just depend weather you can will to lose it for said amount you going to invest, at the same time expect the profit you going ot get as well. NO BODY tell you to dump all your live saving in, NO BODY SAID once INVEST IN SWISSCASH you no need to work and become billionair, you still work, but you earn extra with can make you life more fun and enjoyment!
WHY your never think of putting money in local bank dont have risk? IT wont bankcrup? How SURE YOU ARE? bcos it back by goverment? then tell me WHY MFB BANCRUPT? PPl so stupid to 'INVEST' their SAVING in that bank? THINK!
YOU THOSE JUST continue to WAIT AND SEE, see ppl making money and you stand outside critisice, selfpity, thinking you are so smart, thinking WE swisscash investor going to get cheated, continue to to wait la, I go earn my-- FREE car, FREE phone, FREE dinner, FREE travel, FREE phone bill, FREE air con bill, FREE what ever I wish to achive!
Hi Guys,
Perhaps you guys can interpret the facts over here http://www.worldlawdirect.com/forum/showthread.php?t=683
I am not telling or offering truth but facts for you to analyse before jumping in ;)
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