Sunday September 3, 2006
Be wary of ‘Swiss’ website
By EDDIE CHUA
KUALA LUMPUR: If you have stumbled onto the Swiss Cash or Swiss Mutual Fund website, which is making an aggressive sales campaign here, it is best to be cautious.
The two companies are not Swiss-registered firms.
The Swiss embassy here has warned the public that the two companies have no relation to their country.
“Sometimes, companies use the word 'Swiss' or images of the Swiss flag to associate themselves with the reputation of Swiss companies.”
The statement said the two companies are not subjected to Swiss law and therefore the public should be careful when investing in such funds.
A man, who runs a local website and claimed to have invested US$50,000 (RM189,300) in the fund, told The Star that he had obtained a return of 300% in 15 months.
He said a company that has its headquarters in the Dominican Republic manages the fund.
“The minimum investment is US$100 (RM379) while its maximum is US$100,000 (RM379,000),” he said.
“To invest in the fund, one has to pay US$30 (RM113.60), a one-time registration fee. However, the registration fee must be wired through a bank to the company in the United States.”
He said there would be a 10% return in one to three months.
“It has been so far so good as I get my returns on time,” he said.
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