Anybody here knows the new website address of francswiss?

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  • 1 decade ago
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    They may have disappeared, please read on:

    "http://img.photobucket.com/albums/v692/redisol/pon...

    SEC WARNING

    BEWARE OF INTERNET-BASED PONZI INVESTMENT SCHEMES

    The Securities and Exchange Commission (SEC) has received reports that the following entities are allegedly engaged in internet-based ponzi investment schemes: FRANCSWISS. SWISS CASH, UNIVERSAL FOREX SYSTEM, GLOBAL AMERICA, and PRIVATE FOREX TRADE, INC. These entities are NOT REGISTERED with the Commission, and have no permit DJ authority to solicit investments from the public Private Forex Trade, Inc. has in fact been found to be misleading the public by showing a fake SEC Certificate of Registration on its website.

    The following are some of the features of an internet-based ponzi investment scheme:

    • No SEC registration

    • Investment in foreign currency, preferably in US Dollars

    • Offers or guarantees a huge profit in a very short period

    • Utilizes a binary network (i.e. upline and downline) to earn commissions

    • No paper trail (i.e. contracts, receipts) - Promises tittle or no financial risk

    • Provision for a lock-up period where an investor cannot touch the investment (i.e. 60 days)

    • Assures pay-off of investments in a short time

    • Uses high-pressure methods to convince investors to reinvest their earnings

    • Unknown principal office, address, founders, directors or officers

    • Orientation seminars are conducted informally

    This investment scheme ordinarily collapses as fast as they are created while leaving its investors behind and unable to recoup their investments.

    The public is therefore urged to report any offer of investment made by persons who represent the above-mentioned entities or other entities using similar modus operandi to the undersigned in order that the appropriate enforcement action can be taken:

    Director Hubert B. Guevara

    Compliance and Enforcement Department

    Securities and Exchange Commission

    5/F SEC Building, EDSA, Greenhills, Mandaluyong City

    (632) 727-3367

    ced@sec.gov.ph"

    NBI arrests recruiter in P1-B pyramid scam

    By Evelyn Macairan

    Saturday, July 7, 2007

    The National Bureau of Investigation (NBI) recently apprehended the chief financial adviser of an international pyramiding investment syndicate that has allegedly collected close to P1 billion from prospective investors since it began operating in the country three months ago.

    NBI Director Nestor Mantaring said their National Capital Region (NCR) agents arrested Eleazard Castillo, allegedly the chief financial adviser of FrancSwiss Investment and has helped reel in as much as P300 million in investments since he joined the syndicate last April.

    Castillo, a native of Pug-os, Cabuyao, Ilocos Sur, was caught in Baguio City. He was charged with syndicated estafa before the Department of Justice yesterday afternoon along with Jaime Poliquit, alias Jimpol, of Davao City; Garry Espiritu; Edwin Sendana of Pasig City; Edward Ricalde of Pampanga; Chris Erabon of Baguio City; and a certain Jomarc of Quezon City.

    NBI-NCR Regional Director **** Lasala said they also identified three foreigners who are reportedly part of the scam: American national Roger Smith, who heads the FrancSwiss Investment in the Asia-Pacific Region; and Singaporean nationals Raymond Chua and Bensy Fong, who hold office on Madison Avenue in New York.

    Castillo told reporters that as far as he knows, “FrancSwiss is a legitimate on-line investment.”

    NBI Deputy Director for Regional Operations Reynaldo Esmeralda said Federico Olarte, Glen Manuel Sunga, and Philip Fernando were attracted to the investment scheme offered on the syndicate’s website.

    With a minimum investment of $1,000, they were allegedly promised a daily interest of 4.5 percent, which is equivalent to $45. They were also entitled to a 10 percent commission for every person they recruit to invest in the money scheme.

    Agent Manny Fayre said the three complainants each gave $1,000 to the suspects, but Sunga and Fernando started to worry when they did not receive any confirmation of their investment.

    When they tried to refund their money, Castillo allegedly used dilatory tactics, prompting them to seek the NBI’s assistance.

    The agents immediately set up an entrapment operation in Baguio City by having one of the complainants meet with Castillo to make an additional investment. They arrested Castillo after he received the marked money.

    The NBI is encouraging other victims of FrancSwiss to come forward and divulge the names of those who duped them. Lasala said while they have already exposed the “Castillo’s line” in the pyramiding scheme, there are other recruiters operating in the country.

    “The only way to cut the other lines is if there are complainants. Once they give their statements and name the persons who recruited them, that is the only time we would be able to identify them and arrest them,” he said.

    Fayre said the FrancSwiss Financial Plan is a binary system wherein a person could only sponsor two investors to start their “downline.” Oftentimes, only the investors belonging to the upper portion of the pyramid benefit from the money-making scheme.

    There had been reports that personalities in the entertainment, politics and business sectors were among those who have been tricked, but Lasala said they have not confirmed the reports.

    Esmeralda said the syndicate might have floated the names of famous people as a means to woo more prospective investors.

    He added that people should be wary about similar investment gimmicks.

    “If local and international banks only offer 3.6 percent annual interest, then how come a investment scheme could offer a bigger percentage of 4.5 percent daily?” Esmeralda said.

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