Francswiss: online scam?
The Securities and Exchange Commission (SEC) has warned the public against five online firms namely Francswiss, Swiss Cash, Universal Forex System, Global America and Private Forex Trade Inc.
These five companies according to SEC are not registered entities and are thus not authorized to solicit investments from the public. Moreover, they are engaging in what you call Ponzi schemes.
A Ponzi scheme is a type of investment fraud wherein an operator promises high financial returns that are not expected from traditional investments. Instead of investing the victims’ funds, the operator pays the original investors with the money given by subsequent investors. Usually, enough money is returned to the original few investors to make them believe that profits are actually being realized.
Companies using the ponzi scam have no addresses, making it nearly impossible for duped investors to run after them. They also use spurious documents to make it appear they are legitimate.
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July 9th, 2007 at 11:11 pm
Good day,
I’m an investor of Francswiss. I invested $ 1,000 just this end of June. It was going smoothly until ABS CBN entered the picture. Now I don’t know what will happen to my investment. You may say that I am a victim, but not of Francswiss but a victim of ABS CBN and your BIAS reporting. Why do I say this? Simple. There are other HYIP in the country like SM FUND to name one, so how come ABS CBN is only targeting Francswiss? How come? ABS CBN is only reporting the arrest of a certain ELY and other negative things but you’re not giving any comforting news to the INVESTORS who ABS CBN is claiming as the victims here. What are the authorities doing to get our money back? To tell you frankly, the money I invested in Francswiss was my last savings and I just want to know what moves ABS CBN and the authorities doing to get my money back?
I hope ABS CBN can clarify this issues since you were the the ones who started all this publicity. I just want my money back.
July 10th, 2007 at 10:03 am
Ok sir sa palagay ko tama ka sa mga punto mo. Pero sa tingin ko pagdating sa investment at
iba pang negosyo tungkulin natin na alaman kung ito ba ay rehistrado sa SEC at may mga
nararapat na permiso para mag sagawa ng ganito uri ng negosyo. Sumunod tayo sa batas. At
palagay ko ginagawa lamang ng ABS CBN ang kanilang trabaho para sa kaalaman ng Sambayanan
wala dapat kayong ikatakot kung legal ang negosyong pinapasok nyo. let’s go back to basic.
July 10th, 2007 at 10:40 pm
Hindi po iyan kasalanan ng abs cbn o ng kahit ano pang news channel. Dapat nga ay magpasalamat pa tayo sa kanila dahil iniinform nila ang taongbayan tungkol sa mga ganyang bagay.
At least, di na maeenganyo yung iba na mag-invest pa dito.
July 13th, 2007 at 5:11 am
sama kayo sa akin mag invest sa USA ,, yung known na investing company are T.RowePrice,Vanguard, fedility,schwab.com,Ameritrade,Etrade , yung mga company na ito ang safe at thats what I know..
July 19th, 2007 at 11:35 am
ask ko lng what about euro-america index ? is this registered in sec?
July 21st, 2007 at 11:59 pm
i am also an investor of francswis however because of a certain issue na pinalabas ng abs cbn, bigla naglaho ang investment nmn. besides, so far as i know wla pa nmng nagrereklamo na investor against francswiss…abs cbn…..pls dnt be bias
July 22nd, 2007 at 12:03 am
pera lng ang katapat ng abs cbn….ang gus2 cguro nilang mangyri ay magkarun na dn cla ng percent pati na ng SEC….cge na nga…kng kumikita kmi ng 45 dollars per day….kahit 35 na lng samin…sa inyo na ang iba para matahimik na kau…kawawa ang pinas, wla pa ring asenso dhil sa corruption ng ilan sa atin kya pagka grad q tlga umalis agad aq sa pinas…..imbes na mag2longan….nandun pa rin ang crab mentality na ugali ng mga pinoy
July 25th, 2007 at 12:33 pm
pls dont judge francswiss… be fair…look at the side of the investors…we are victims..how can you help us??? pls help us find a way na maibalik sa amin investment namin.. kami ang nagiging kawawawa sa ginagawa nyo. If i know d nyo naman talaga gusto makatulong..gusto nyo lang perahan mga investors..especially yong mga nbi na nanakot at nanghihin ng milyones sa isang investor
July 27th, 2007 at 10:08 am
hello good day to all,
i am not an investor of francswiss coz one of my friend warned me of that bago pa man lumabas sa ABS CBN ang balita. ang tanong ngayon ganito…bakit hinahabol ng SEC ang francswiss? kung legitimate ang francswiss, bakit hindi ipinagtanggol ng mga corporators of bankers ang francswiss? instead nagsitago sila lahat…gaya dito sa amin, to be particular TAGUM CITY, ang yayabang ng mga members nila (FRANCSWISS), sabi kung gusto mo yumaman mag FRANCSWISS ka na, hataw to the max ika nga, bakit ngayon dina sila makita, kahit anino nila nawala. sa mga nag invest, sana bago kayo papasok sa anumang company o investment, seguraduhin ninyong legitimate ang compnay at dapat registered sa DTI, SEC at iba pa.
November 2nd, 2007 at 10:36 am
It is true that when the media like ABS-CBN came and reported Francswiss that all the top Francswiss people got arrested and ran for the hills and all the investors suffered for it but understand this: Francswiss is a Ponzi scheme which means for every investor that earns money there will be a dozen others who will lose their money just to pay for the gains of those who came before them.
In other words Rudy, although you are a victim, the money you will earn, if Francswiss was not stopped will come from the money (blood and sweat) of several new investors. This may sound cold but better let blood letting be now with only a few thousand will be sacrificed rather then millions of new investors later on if Francswiss was permitted to keep on going.
Ultimately ABS CBN did us a great service by stopping what could eventually be the financial downfall of potentially millions of Filipinos.
April 9th, 2008 at 3:22 pm
Ako din nag invest sa francswiss, and i didn’t earn anything in return. Pero ok lang kasi ako may kasalanan, di muna ako nag research about the company. Nag invest lang agad kasi gusto yumaman. Ang masama pa nito pati friends ko na-enganyo ko sumali, pati sila nalugi. =(