Hi Mr. TAN,
I'm curious about the SWISSCASH Investment, which my wife's colleague and family already taken-up. Can you advise in some way if this is genuine, and it's legal in Singapore?
From an email:
This guys claim that it is a very exciting Savings Programme from Swiss Mutual Fund called Swiss cash. It can help you grow your fund with 200% profits in 15 months.
Since I started on the investment in May 2006, I have already gotten 160% interest (10% interest monthly for the period May - July 2006, 15% interest monthly for the months of August - October 2006, 20% for November 2006 - January 2007, and 25% for February 2007).
I will be receiving another 25% interest for this month and next month, and 30% for the final 3. I have already recovered my principal sum in January 2007 and earned an accumulated gross profit (ie. gross amount less principal sum) of 60% up till this month March 2007. By the end of 15 months, my total profits received will be 200%!
(rest of details deleted)
Here is the view of a financial analyst:
"I have looked into it a few times. It is a scam -- a pyramid scheme."
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