Francswiss: The Recent Large Scam that Hit the Filipinos
This review blog does not simply feature reliable online programs that pay. I feel that it is likewise my obligation to update my readers of any issues that concern online investments, real or not. Thus, I will use this blog, whenever necessary, to spread news and updates.
After a storm of investment and pyramid scams in the last few years, many Filipinos have once again been plagued by a scam. This time through different names: francswiss.biz and francswiss.us.
I have been passing through posts about this investment program/s in the past months. However, my tendency was to take these posts for granted regarding francswiss because of its huge investment demand: an initial volume of e-points amounting to USD1000.
A couple of weeks ago, one friend of mine approached me and invited me to see her clear book filled with printed receipts of her investments and ROI. She told me she was receiving an ROI of USD45 a day through her Banco de Oro International debit card. She has been in the investment company for around 24 days and she really enjoys receiving something that the Philippine economy can never provide her. (I swear, she said it! LOL) She said she is maintaining an investment of USD2000.
I was reluctant and passive at the invitation: reluctant because I've had all the details of the past scams and they seem to closely relate with francswiss. I was also passive because I couldn't figure out how to shell out such huge amount.
A few days ago, TV Patrol World has finally put an end to my suspicion. Francswiss has now been in the red list of the SEC and NBI, and a couple more of international agencies. The .us and .biz websites are now gone.
If you are one of those who suspected about the scam, invited, or otherwise, and want to care for other online investors and marketers, please post a message. Our community deserves to know more.
4 comments:
A few hours ago, one financial adviser of francswiss.us based in Baguio City has been captured. If you are one of those whose investment was compromised, please contact NBI or any similar agency at the soonest possible time.
Check this warning at ABS-CBN:
http://www.abs-cbnnews.com/storypage.aspx?StoryId=83376
I passed through this post at Finance Manila written by Mark T. Market. I believe you deserve to know more about francswiss.
Francswiss? STOP! Please tell your friend that he is working for a SCAM.
From Wikipedia under "Ponzi Scheme":
http://en.wikipedia.org/wiki/Ponzi_Scheme
In October 2006, in Malaysia, two prominent members of society and several others were held for running an alleged scam, known as SwissCash or Swiss Mutual Fund (1948). SwissCash offered a returns of up to 300% within a 15-month investment period. Currently, this HYIP investment is offered to citizens of Malaysia, Singapore, and Indonesia. It claimed investors’ funds were channeled to business activities ranging from oil exploration to shipping and agriculture in the Caribbean. The company claims to be operating out of a New York and incorporated in Commonwealth of Dominica.
From "Francswiss" Website:
http://www.francswiss.us/main.html
Quote:
Swiss Mutual Fund has the ability to access global and financial markets in Europe, Asia, North America and Australia.
http://www.francswiss.us/contact.html
280 Madison Avenue, 912 - 9th Floor,
New York. NY10016, U.S.A
P. O. Box 2342. Roseau,
The Commonwealth of Dominica
This is not a bashing post. This is a warning to everyone. These goons are active in the Metrowalk area (Bullfrog cafe) or any prominent internet cafe location. They use internet cafes as "trading floors" for their racket. They target middle class yuppies with the lure of high returns--even quoting the performance of stock markets/forex markets for their cause.
I have personally emailed the US SEC and the Philppine SEC about them. Please do not fall for it. PM me separately if you have further queries. If you know anyone who is a current "victim"--advise them to get their money out immediately (if they can). Please help curb this nasty practice. Ponzi schemes appear during bull markets.
Previous similar scams include:
1. Multitel Investment Corp (not related to the stock)
2. G Cosmos Marketing
3. Kendeigh Foreign Exchange
4. Grand Post International
5. Mateo Investment Group
all networking scheme even if promoting a product are considered by me as scam.
by the way, i approved your link request at the pinoy bloggers directory. tnx
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