The www.suntraders.com website is full of suspicious points so does the www.swisscashguide.com
1. In phase 1, they'll try to build the old swisscash investors database to suntraders excluding Malaysia.
2. Now in Phase 2, they required the swisscash investors to fill in the form to qualify to access the website.
3. Knowing that usng the ushan0110101 account, I can access the website, but I've ask my Malaysia Upline, she can go to the website even without filling in the form. This is weird as they said in Phase 1, they are excluding Malaysia ID account.
4. As I'm SG, tried using my sg ID, I cant go inside the website. Then I type rubbish account like myshy1421301, it works, its just an account tat I anyhow type. As long as its Malaysia MY account, anyone can go into the website.
5. Phase 3, they urge investors to fill in the form and to be submitted before 15th Nov. They are rushing and from previous posts, according to the contacts, its true tat they are forex account.
Conclusion:
Fake website.
This is another info about Suntraders.com
I come across a Chinese forum and one of the ex-Sc investor receives this 2nd auto respond email from suntraders.com. That make me confuse. Any one had receive this email ? Why SunTraders.com become Forex.com Please help to verify:
The email I paste as below :
电邮的回复 ( Email reply)
2007年11月09日 星期五 下午 12:31 周一本人在8楼告知我按照suntraders.com列出的邮箱地址:info@suntr
aders.com发去邮件，当时收到的是自动回复。今天收到该公司�
�给我第二封邮件：
( Translation : on 9th Nov 2007 Friday 12.31pm. Last Monday I filled the form and follow the suntraders.com instruction and submit to info@suntraders.com. I received the auto respond email on that time. Today I receive a 2nd email from that company: )
Dear XXXXX,
Thank you for your recent inquiry. In attempting to assist you, we have conducted a thorough review of our customer database and are in a position to presently inform you there does not exist any current or archived customer account in your name with our company. Additionally, Gain Capital/Forex.com is not presently affiliated nor was it at any point in time affiliated with Sun Traders and/or SwissCash. We hope this information is helpful to you. Should you require further information, we advise you contact Sun Traders and/or Swiss Cash directly. Thank you.
Regards,
Jerilyn Bambacht
Client Services Team
Gain Capital Group
If you would like immediate assistance using our Chat support, please click below:
1.877.FOREXGO (367.3946) * info@forex.com * Live Chat
After filled form and submit, a form completed page appeared with your reference number(to be used for further contact with them) and name. Instructions on type of documents to be send to : legaldept@suntraders.com ....and at the same time an automated response email to your inbox from legaldept@suntraders.com to acknowledge receipt of your activation request with subject "Suntraders Activation Request Received" =>look a few post above to see this email.
Source : http://swisscash-mitravita-jakarta.blogspot.com/2007/11/swisscashguide-suntraders-are-fake.html
Swisscashguide.com and Suntraders.com is FAKE..!!!!
Swisscash Phase 4 : Final Qualifications
Congratulations to all;
The Qualification Period has finished in 15th of November! Now Sun Traders is upgraded to the new Status level (Phase 4) and after reviewing sent information from subscribers and comparing them with SC datasheets, new account details (ID and Password) are in the process of being sent to qualified investors, actually those who are true old investors and being qualified by our management and financial team.
You are in the way of catching new benefits straight away. We are sending new account details to half of qualified members up to 30th of November and for the others up to 15th of December.
We will have great plans for the year 2008 for all our new and old investors. So keep in touch until we finish phase 6 in 2007 and the other 3 phases in 2008.
20. Nov.2007
Charles Peterman
Founder, Chairman and CEO
www.suntraders.com
_____________Technical Team Message______________
Total Forms Received: 748,532
Total True Subscribers: 208,286
Total Documents Received: 83,098
Note: Those who have applied and have not sent documents should send their documents, up to the 27th of November so we can approve their claim.
Note: Please send all your documents (Scan of valid Identity “Passport, National ID card”- Scan of Investment Certificate or Investment Confirmation email) to finalnotice@suntraders.com
Note : Does anyone here submit your informations and your personal data to Suntraders...?
Swisscash Plan Return at Jan 5th 2008...?
As promised By swisscash it would complete 9 phases and Return to operation with full swing from 5th Jan 2008. Leaders from Singapore and philipines had warned Downline not to Submit Any Personal info to Suntraders .
Leaders had Confirmed that Swisscash Will Add up Epoints ( monthly commisions ) as per the Old Plan SIP25 till december.
Pass this info to your Downline and Support your downlines with all the latest info. We are working Hard to get you the Updates on Swisscash.
source : www.blogger1.com
Note : I don't know, where this man get this information, but when you saw this conversation, you will be know that Swisscash chance to come back is just 1% only.
This conversation is between Swisscash Complaint Member with the Indonesian TOP Leaders :
Di bawah ini Hasil Chat Team XXXXX Dengan Dr. XXXXX Pada Tgl 01 Nov 2007, Jam: 17.15.00 Wib.
harussiaga1: ya pak
Rich-Que 2WK: kenapa
harussiaga1: malam
harussiaga1: kita masih teman kan pak?
Rich-Que 2WK: masih kenapa
harussiaga1: saya memang jarang online
harussiaga1: gak apa pak thanks
Rich-Que 2WK: kita masih teman cuma seharusnya anda harus gentle
harussiaga1: ada teman aja yang beritau kenapa nama saya di muat di web bapak
Rich-Que 2WK: seharusnya anda jawab sms saya
harussiaga1: maaf pak saya pernah chat denga yang dari luar negeri malah dipost dan jadi di sudutkan
Rich-Que 2WK: seharusnya anda tidak perlu menghapus web2 anda
harussiaga1: saya di pojokkan pak
Rich-Que 2WK: nggak perlu takut
harussiaga1: terus terang saya kapok main online
Rich-Que 2WK: kalau saja anda tidak menghapus semua web anda saya tidak akan berbuat demikia
harussiaga1: maaf pak karena orang lain mengkambing hitamkan saya
Rich-Que 2WK: karena semua downline saya juga mencari saya
Rich-Que 2WK: saya juga perlu konfirmasi
harussiaga1: saya minta tolong pak dan terus terang kaget saya di web bapak banyak kali padahal saya gak tau apa2
harussiaga1: saya mengerti pak
Rich-Que 2WK: bagus anda menghubungi saya sekarang
Rich-Que 2WK: jia liwat tanggal 10 nov mungkin sudah sampai ke cyber crime polda
harussiaga1: sebenarnya sejak beberapa bulan lalu udah diberitakan kalau web sc gak muncul berarti jangan diharapkan lagi pak
harussiaga1: kita rugi semua pak
harussiaga1: sama2 habis
Rich-Que 2WK: ada yang perlu anda jelaskan
harussiaga1: ya
Rich-Que 2WK: saya perlu penjelasan apa yg ada di blog saya, jika semua masuk akal saya bisa menjelaskannya kepada orang banyak
harussiaga1: mohon pengertian bapak untuk itkat baik kita
Rich-Que 2WK: kita sama sama punya itikad baik
harussiaga1: dan nama baik kita pak
harussiaga1: ya pak
Rich-Que 2WK: ok saya lagi ada tamu nanti kita lanjut lagi nggak perlu takut dengan saya
harussiaga1: ok harap mengerti keadaan saya
Rich-Que 2WK: ok
harussiaga1: saya hanya usulkan jangan sudutkan saya pak, dankita jaga nama baik sama2
harussiaga1: 3-4 hari inijaringan internet agak sukar di daerah.
harussiaga1: harap maklum pak
Rich-Que 2WK: saya tidak pernah menyudutkan anda, saya hanya mau anda jelaskan ttg
Rich-Que 2WK: 1. dari mana anda dapat dana untuk launching sc di hotel2 secara gratis
harussiaga1: halo
Rich-Que 2WK: 2. pada saat perubahan emf dan epoin ke acf anda punya epoint ribuan bahkan sampai puluhan ribu dari mana
Rich-Que 2WK: 3. apa hubungan anda dengan sc
Rich-Que 2WK: 4. mengapa anda hapu semua web anda
Rich-Que 2WK: semua ini di butuh kan oleh teman2 yang mencari anda
harussiaga1: 1.gak ada dana pak, malah kami bayar sendiri kamar hotel
Rich-Que 2WK: anda senterclass dong kasih makan banyak orang
harussiaga1: 2, epoint gak ada makanya investor cari sendiri2
harussiaga1: 3. sama seperti bapak investor biasa.
harussiaga1: itu kami bayar meja pak
Rich-Que 2WK: ndak saya sendiri ditawari oleh isfarhan dkk sebayak 15.000 epoint pada saat pemindahan tersebut
harussiaga1: yang urus orang jakarta
harussiaga1: merekacari orang yang punya account usa,dll selain indo, mly singapore
Rich-Que 2WK: usa tidak punya epoint saya sudah coba hubungi
harussiaga1: ada
harussiaga1: us...idnya
harussiaga1: waktu daftar mungkin ada anak atau keluarga yang tingal di amerika
harussiaga1: jadinegar mereka pilih
Rich-Que 2WK: masalahnya yg dibawah saya ini semua tidak mengerti komputer dan mereka ikut setelah ikut launching anda di jakarta setelah 2 kali ikut
Rich-Que 2WK: dan investasinya tidak ada yg sedikit diatas 5000 - 15 000
harussiaga1: itu bukan acara saya pak
Rich-Que 2WK: klalau buka acara anda yg tertulis di web saya itu kan jika orang baca andalah yang mengajak
harussiaga1: saya justru main online
Rich-Que 2WK: ok sekarang sc itu akan online apa tidak
Rich-Que 2WK: saya butuh penjelasan yg real karana saya pun harus menerangkan kepada yg lain
harussiaga1: sejak beberapa bulan lalu kasih date lain sep15, jika tidak online jangan di harap agar orang tidah ngambang pak
Rich-Que 2WK: bagaiman dengan chattingnya bpk valentino
harussiaga1: karena tidak ada yang tau benar
harussiaga1: dia mau jadi hero
harussiaga1: tak ada ayng tau 1 orang pun pak
Rich-Que 2WK: seharusnya anda jelaskan pada saat tgl 19 agst 2007
harussiaga1: kita tak tau pak
harussiaga1: web langsung hilang
harussiaga1: dan semua menunggu
Rich-Que 2WK: memang langsung hilang krn tgl 17 malam saya sempat buk, tgl 18 pagi sudah hilang
harussiaga1: tapi di web udah saya beritau date line sep15 kalau tidak ada jang diharap/siap resiko
Rich-Que 2WK: yg pertama saya hubungi isfarhan
harussiaga1: saya malah waktu ada epoint mau tr. langunsg hilang pak
harussiaga1: saya pun rugi
Rich-Que 2WK: anda sih nggak bakal rugi karena anda dapat 1M setiap bulan
harussiaga1: itu gak benar pak
Rich-Que 2WK: bapa sendiri yg bilang sama saya disini
harussiaga1: mana ada yang dapat segitu
Rich-Que 2WK: waktu web sc nggak bisa dibuka dengn speedy anda bilang buka pake xl
Rich-Que 2WK: dan anda sendiri yg bilang anda masih dapat 1M
harussiaga1: indosat xl bisa
Rich-Que 2WK: malah anda ketawa-ketawa
Rich-Que 2WK: dan saya bilang serius
harussiaga1: mungkin becanda pak
Rich-Que 2WK: bahwa speedy nggak bisa buka
harussiaga1: ya benar speedy gak bisa buka
Rich-Que 2WK: ketawa anda pada saat itu seakan mengejek saya
harussiaga1: sory pak
harussiaga1: saya gak suka mengejek orang maaf kalau salah
Rich-Que 2WK: bahkan dengan bangganya anda bilang bahwa sc masih bisa dibuka nggak kabur dan sampai hari ini (saat itu) anda bilang masih terima 1M
harussiaga1: sekali lagi saya mungkin becanda pak
harussiaga1: karean saya akrab dg bapak
Rich-Que 2WK: yah mungkin saat ini saya sudah jelas nggak tau orang yang lain
Rich-Que 2WK: saya trima saja semua ini karena saya sudah rugi 30.000USD jadi acf 90.000
harussiaga1: saya justru hub. bapak karena waktu udah date line lagi cari bisnis, siapa tau bapak ada bisnis.
Rich-Que 2WK: sebenernya saya sudah curiga waktu epoint dan emf saya di pindah paksa ke acf
harussiaga1: karena teman lebih penting
harussiaga1: waktu bulan april udah gawat pak
harussiaga1: epoint kosong makanya cari sendiri2
Rich-Que 2WK: pada saatr kosong itu saya bingun anda dan isfarhan cs punya 15000 epoint
harussiaga1: farhan pun gak ada pak, dia cuma calo
Rich-Que 2WK: ya saya tanya dia bilang ada sama anda
harussiaga1: saya oun malah beli di orang lain
harussiaga1: makanya omset drop
Rich-Que 2WK: ok saya tidak akan salahkan anda jika benar anda anda punya bukti beli juga dari orang lain, jika bisa kirim ke email saya xxxxxxx@yahoo.com
harussiaga1: dan sejak itu frustasi gak ada epoint, makanya kerjakan bisnis lain juga.
harussiaga1: saya jarang jual dan beli
harussiaga1: sejak april cari sendiri2
Rich-Que 2WK: yang terpenting bukti nanti akan saya pasang di blog saya krn setiap hari blog tersebut dikunjungi sc indonesia
harussiaga1: bukti apa? saya gak ada bukti pak
Rich-Que 2WK: bukti bahwa anda pun beli dari orang lain seperti transfer uang ke orang lain atau upline anda
harussiaga1: tolong pak untuk tidak pencemaran nama baik mengenai saya dihapus juga foto.
harussiaga1: saya jual beli hampir gak pernah pak
Rich-Que 2WK: sya sampai saat ini masih punya bukti pembelian dr pt anda yg mengkalim anda adalah agen/ dealer dari sc
Rich-Que 2WK: yg di jakarta
Rich-Que 2WK: di kota
harussiaga1: itu bukan pt saya pak
harussiaga1: saya tidak mengklain agen saya bukan agen/dealer
Rich-Que 2WK: mengapa pada saat itu anda bilang dealer/ agen sc indonesia
harussiaga1: yang urus itu orang jakarta
harussiaga1: saya gak pernah bilang agen/dealer sc
harussiaga1: saya tau resiko bisni beginian
Rich-Que 2WK: ok kita sama2 tahu tapi orang lain mengerti tidak?????
harussiaga1: ya pak susah memang
Rich-Que 2WK: saya pun dikejar orang banyak'
harussiaga1: bapak banyak rekrut?
harussiaga1: gak main online saja?
Rich-Que 2WK: banyak setelah mereka datang ke launching di jakarta 2 x, total sya harus ganti 1.4M
harussiaga1: baiknya kalau investasi jangan ajak2 orang gak ngerti
harussiaga1: yang jakarta mc itu yang koordinir pak
Rich-Que 2WK: saya tidak aja tapi dia lihat dengar sendiri
harussiaga1: saya pun gak bicara yang kedua
harussiaga1: malah yang berikutnya kita semua gak diundang
Rich-Que 2WK: malah anda yg kasih pm
harussiaga1: sejak itu gak pernah rektut orang
Rich-Que 2WK: Jadwal Conference via YM:
__._,_.__
harussiaga1: web, pm bukan saya yang buat, saya gak jago
harussiaga1: gak ada waktu dan gak jalan
Rich-Que 2WK: seharusnya anda muncul di memberswisscash nya valentino
harussiaga1: gak ada guna pak karena sudah date lain tidak bicara sc
harussiaga1: sudah berita valen jangan bawa2 sc and orang lain, karena buat yang tidak pasti
Rich-Que 2WK: ok lah, saya akah hapus semua ttg anda nanti setelah 10 nov 2007
harussiaga1: maaf kenapa lama pak? saya ditanya teman2 kok juga ada nama mereka?
Rich-Que 2WK: karena jika tidak demikian anda tidak muncul dan tidak menghubungi saya
harussiaga1: saya gak mau ada masalah antar kita pak
harussiaga1: saya akan usahakan muncul pak cuma koneksi kadang susah
harussiaga1: saya sudah save sbg kenang2and dari bapak
Rich-Que 2WK: saya tahu anda punya banyak koneksi jadi itu bukan alaan
harussiaga1: saya hanya pernah menuntut pencemaran nama baik dengan pengacara saya pribadi dan saya kasihan jadinya mausk penjara, istri anak terbengkalai karena itu dan sama2 habis uang , waktu tenaga.
Rich-Que 2WK: yah nggak pa2 jika anda mau saya sudah siap
Rich-Que 2WK: silahkan saja
harussiaga1: saya gak mau itu pak
harussiaga1: makanya saya hub, bapak
Rich-Que 2WK: atau saya kasih alamat lengkap saya
harussiaga1: itu itikat baik dan dari hati saya yang paling dalam
harussiaga1: gak perlu pak
harussiaga1: saya percaya bapak
harussiaga1: dan kita sudah teman sejak dulu
Rich-Que 2WK: cijantung II, xxxxxxxx, jakarta Timur, tepatnya belakang rumah bpk. sarwo eddy
Rich-Que 2WK: mertuanya SBY
harussiaga1: saya hanya mau jangka panjang dengan bapak
harussiaga1: sekali lagi mohon maaf sebesar-besarnya
Rich-Que 2WK: ok pak, saya sudah janji pada yang menghubungi saya bahwa tgl 10 baru saya hapus, jadi moon maaf
harussiaga1: gak apa pak
harussiaga1: saya percaya bapak
Rich-Que 2WK: saya jamin dengan chatting ini anda tidak kenapa-2 karena mereka paling tidak sudah tahu dan membaca ini semua
harussiaga1: terima kasih atas waktu dan menerima penjelasan ini
Rich-Que 2WK: ok sama-2
Source : http://swisscash-mitravita-jakarta.blogspot.com/2007/10/rekaman-ym-chat-dengan-top-leader.html
Swisscash at News This Week Part.3
->>> The Edge Daily.com
09-11-2007: SC Sues Managers of Gold Investment Scheme
by Sharon Tan
Email us your feedback at fd@bizedge.com
KUALA LUMPUR: The Securities Commission (SC) had filed a civil suit against Powerhouse Asset Management Sdn Bhd and its Singaporean executive director-cum-shareholder, Tan Kok Kheng, to compel them to restitute RM1.93 million to 75 investors.
The suit is related to Powerhouse’s and Tan’s unlicensed investment scheme in gold structured products in early 2006 and the return of a shortfall of money to investors from that investment scheme.
In a statement on Wednesday, the SC said at the time of transgression, Powerhouse and Tan were licensed as fund manager and fund manager’s representative, respectively, which allowed them to carry out fund management activities relating to securities only.
The SC said Powerhouse, through Tan, had ventured into the investment scheme involving gold structured products in early 2006 without its approval, which was in contravention of the licensing conditions.
It said the scheme, which was not approved by SC, promised a net return of 10% on investors’ initial investment over a period of six months. With the investments, Powerhouse purchased and purified scrap gold into pure gold wafers which were sold at a premium in the gold market.
The SC said the fund management company had engaged unlicensed individuals to solicit and receive funds on its behalf for the unapproved scheme, which amounted to RM12.8 million. Powerhouse had also breached the licensing conditions when it disseminated advertisements and promotional brochures to the public without SC’s prior approval.
Following its findings, SC had directed Powerhouse to cease all investment activities and restrained the company from dealing with the investors’ monies by transferring all the monies from Powerhouse’s bank accounts to a SC-appointed trust company.
In Sept 2007, the SC appointed United Overseas Bank (M) Bhd and UOB Trustee (M) Bhd as trustees to carry out the distribution of gold wafers and monies to Powerhouse’s investors.
“To date, the trustees have completed the process of returning the monies to Powerhouse’s investors leaving a shortfall of RM1.93 million,” the SC said, adding that the Nov 5 suit was to compel Powerhouse and Tan to pay the shortfall.
SC had filed a similar suit on Sept 26, 2007 against Kenneth Vun @ Vun Yun Liun, the managing director and shareholder of FTEC Resources Bhd, to compel him to restitute RM2.49 million to the company. The sum was part of the proceeds raised by the company in an initial public offering of which Vun had allegedly misused for his personal use.
Other civil actions taken by the SC includes the case of Ayer Molek Rubber Company Bhd where SC obtained an injunction to safeguard RM20 million of the company’s monies to prevent the company and its solicitors from disposing of or dealing with the monies representing the company’s sale proceeds of several pieces of land in 2006 and 2007.
In the Swisscash Internet Investment scam case, the SC obtained a worldwide Mareva injunction to prevent the disposal of assets by the defendants and also secured a court order to direct one of the defendants, Amir Hassan, to transfer RM35 million of Swisscash monies held in bank accounts overseas back to Malaysia.
Source : http://www.theedgedaily.com/cms/content.jsp
?id=com.tms.cms.article.Article_227748b7-cb73c03a-ffeef100-1b8be1e6
Swisscash at News This Week Part.2
->>> The Stars.com
SC Plans Criminal, Civil Proceedings to Punish Corporate Crooks
By YAP LENG KUEN
PETALING JAYA: The Securities Commission (SC) is stepping up the fight against white-collar crime by adopting both criminal and civil action to bring corporate crooks to book.
The regulator has also adopted pre-emptive measures to freeze assets, disgorge ill-gotten gains and also make restitution to investors in its move to restore credibility and accountability in the sector.
“Our aim is to ensure that not only are the perpetrators punished but also that investors have the assurance that their investment monies are safe,” chairman Datuk Zarinah Anwar told The Star.
She said the SC had heightened its focus on achieving a more holistic outcome for investors.
“There is a convergence globally to resort to a wide range of enforcement options in order to achieve the desired regulatory results,” Zarinah said.
She said the SC's increasing use of its civil enforcement powers had shown significant results.
“This year alone, there were several breakthrough civil actions that involved a cumulative sum of over RM73mil,” she said.
She said the Capital Markets and Services Act that was recently introduced gave the SC the clout to take tougher civil action against perpetrators of a wider range of market misconduct.
Previously, the SC’s powers to claim three times the profit made, or loss avoided by a person, was confined to insider trading offences.
With the Act, the SC is able to take similar action of disgorgement with respect to manipulation, fraudulently inducing persons to deal in securities and disseminating information about illegal transactions, among others.
The SC is also working with regulators from other countries to enable it to be more effective.
Zarinah cited the recent Padiberas Nasional Bhd (Bernas) case where for the first time, aggrieved investors in Malaysia were successfully compensated for investment losses resulting from a securities law transgression.
In that case, the SC managed to disgorge ill-gotten profits amounting to RM2.08mil arising from insider trading of Bernas shares by Kuala Lumpur Securities Sdn Bhd and Wan Azmi Wan Abdul Rahman.
In the Swisscash case, the SC obtained a Mareva injunction to prevent disposal of assets and secured an order to compel the return of RM35mil from 14 bank accounts in Hong Kong and Singapore. The case saw 22 accounts in Malaysia being frozen.
“We facilitated a meeting of regulators from eight different countries in Hong Kong to trace fund transfers from bank accounts in one country to another,” she said.
The SC had also:
# INJUNCTED RM20mil in proceeds from The Ayer Molek Rubber Company’s sale of land;
# RESTITUTED RM12.8mil to investors of Powerhouse Asset Management Co and filed a civil suit against the company and the fund manager for the shortfall of RM1.9mil; and
# COMMENCED a civil suit against the managing director of FTEC Resources for restitution of RM2.5mil that he is charged with utilising for his own benefit.
Source : http://thestar.com.my/news/story.asp?file=/2007/11/16/nation/19492160&sec=nation
Swisscash at News This Week Part.1
->>> Jamaica Gleaner.com
Investment clubs not exempt from licensing - FSC
published: Saturday | November 10, 2007
John Myers Jr., Business Reporter
The Financial Services Commission (FSC) has warned that those entities purporting to be 'investment clubs' rather than securities dealers were operating illegally as they too are required to have a licence to operate.
A number of high-yield investment schemes, which define themselves as clubs and not traders, have been claiming that their operations fall outside the ambit of the FSC.
But deputy executive director of the regulatory agency, George Roper, said Wednesday that investment clubs, based on the stipulations used in other jurisdictions, were limited by the number of members involved in the club and all members were required to participate in deciding in the type of investments entered into, counter to what obtains with local entities.
"If you have one or two persons who are making the investment decisions then those one or two persons will have to be licensed as investment advisers," Roper advised at the latest 'Think Before You Invest' public forum hosted in Kingston by the regulator.
"The important thing to note is that there is no exemption from licensing for 'investment clubs' in Jamaica," he stressed.
healthy portion of investments
Addressing the concern of the likely impact high-yielding investment schemes would have of the island's financial sector should they crash, the FSC executive said the legitimate financial sector was still handling a healthy portion of investments in Jamaica and therefore the fallout would not lead to a financial meltdown as the case was in Albania.
The formal sector is valued at about $1.2 trillion, whereas loose estimates of the high-investment scheme funds have been placed at about $150 billion.
Olint and Cash Plus are said to command the larger portion of those investments.
Roper said the FSC did not have knowledge of how much money was invested in these schemes when asked about the 25 per cent of GDP estimate that is bandied.
The agency, however, estimated that there were at least 15 schemes offering high-return investment to Jamaicans at this time.
Returns range as high as 18 per cent per month offered by Cash Plus and 25 per cent per month on offer from SwissCash before it disappeared from the radar in July.
taking action
As to whether the FSC will intervene in any of the operations, Roper said: "We wouldn't discuss plans to intervene with the public." But: "At anytime that we will be taking action, the public will be advised - at the appropriate time."
The FSC is in litigation with Olint to determine whether it has jurisdiction over the foreign exchange trader's operations.
john.myers@gleanerjm.com
TAKEN FROM THE FINANCIAL GLEANER, FRIDAY, NOVEMBER 9, 2007
Source : http://www.jamaica-gleaner.com/gleaner/20071110/business/business2.html
===================================================
Billionaire Disclaims Ties with Worldwise, FSC Issues Alert.
published: Wednesday | October 24, 2007
Billionaire investor Michael Lee Chin has disclaimed any association with investment clubs. - File
The Financial Services Commission (FSC) is again warning Jamaican investors about another high-yield scheme operating from Ruthven Road in Kingston, saying neither World Wise Partners Limited nor its products are registered to "legally" transact business.
The regulator offered similar caution in relation to Higgins Warner Music Entertainment Limited in press advertisements on the weekend.
The companies are not associated, the FSC later told Wednesday Business.
The notice follows a statement Friday from billionaire investor Michael Lee Chin issued to dispel rumours that he is a director of Worldwise Investment, a company whose website entices visitors with the promise of "wealth creation."
It's a phrase that Lee Chin popularised when he entered Jamaica in 2001 after his 76 per cent acquisition of struggling National Commercial Bank Jamaica Limited, a banking group with interests in investment and securities and insurance.
Constrained
The Jamaican/Canadian investor, in a statement issued under the banner of Portland Holdings Inc, the company in which all his investments are pooled, said that as a financier whose actions affect his more than 30 businesses (see insert), he was constrained to deny involvement with such schemes.
"I am not and have never been affiliated with Worldwise nor any other investment club," said Lee Chin.
"I find it necessary to address this publicly as I have a responsibility to investors who hold my associations in high regard, and as a result, take my affiliations into account when making their own investment decisions."
Worldwise is the latest high-yield investment scheme to have cropped up in Jamaica. The company claims to have been around since September 2003, but just started transacting business this year.
The company's chairman, Noel Strachan, having spoken to Wednesday Business on Monday, did not follow through on promised responses to queries about Worldwise's claim to a track record in investment and an explanation of why it remains unregistered as a business with the Companies Office of Jamaica, as stated on its own website.
The company, which offers 12 per cent monthly returns, or 144 per cent per annum, on investments of US$1,500 or more - 6 per cent on principal below that - accepts minimum investment of US$300.
It claims that 80 per cent of funds under management are held in escrow at RBTT Bank Limited. Strachan also did not comment on how he was able to generate sufficient returns from 20 per cent of funds under his management to pay investors their monthly 12 per cent, nor how the funds were invested or traded.
"Invest at your own risk," the site warns. Regulator Brian Wynter said last month that the high-risk schemes remain one of his biggest challenges - one that is likely to be inherited by his successor when he departs the FSC in December to take up a new posting in Barbados.
Without the legal authority to police the schemes, the regulator is unable to ascertain whether they are sustainable operations or pyramid schemes that rely on a constant stream of new investments to finance returns to existing clients.
For now the FSC's course of action is limited to warnings and educational seminars.
The regulator has in the past few months been issuing alerts to the public about similar schemes, including SwissCash, an online scheme out of New York that disappeared from the internet in July.
New site
One Jamaican investor said that while she has heard reports that some persons have been getting SMS messages about a new site, she has not been able to confirm its existence and up to Monday was unable to access her account.
SwissCash offers returns of 25 per cent per month.
Cash Plus, which operates from New Kingston, is now offering up to 18 per cent per month, having recently adjusted its schedule.
The forerunner, foreign exchange trader Olint Corporation, which offers 10 per cent per month, to popularise high risk schemes, remains locked in legal battle with the FSC.
A ruling is pending in the case heard by the Supreme Court in June, on whether the FSC has jurisdiction over the operations of Olint, which is owned by David Smith.
The FSC is reportedly awaiting the results of that case to map its strategy for dealing with high-risk schemes.
lavern.clarke@gleanerjm.com
Michael Lee Chin's holdings
Portland Holdings Inc. has investment interests in more than 30 diversified companies, each operating within a distinct sector:
Advantage General Insurance Company Limited
(formerly United General Insurance Company Limited)
AIC Finance Limited
AIC Financial Group Ltd (T'dad)
AIC International Investments Limited
AIC Investment Services Inc.
AIC Limited
AIC Securities Limited
Cable Bahamas Limited
Columbus International Inc
Copernican Capital Corp
CVM Communications Group
Flow (Jamaica)
Flow (Trinidad)
Markland Street Asset Management Inc.
Medical Associates Limited
National Commercial Bank Jamaica Limited
NCB Capital Markets
NCB (Cayman) Limited
NCB Insurance Company Limited
New World Network
Reggae Beach
Senvia Money Services Inc
Trident Villas & Hotel Jamaica
West Indies Trust Company Limited
*Indicates companies in which Lee Chin does not have majority interest.
Source : http://www.jamaica-gleaner.com/gleaner/20071024/business/business4.html
SC.com.my Press Release | SC files RM1.93 million restitution suit against Powerhouse Asset Management and its executive director
Kuala Lumpur , 7 November 2007
The Securities Commission (SC) has filed a civil suit against Powerhouse Asset Management Sdn Bhd (Powerhouse) and its executive director cum shareholder, Tan Kok Kheng, a Singaporean, to compel them to restitute RM1.93 million to 75 investors.
At the time of the transgression, Powerhouse and Tan Kok Kheng were licensed as a fund manager and a fund manager’s representative respectively which allowed them to carry out fund management activities relating to securities only.
Powerhouse, through Tan Kok Kheng, had ventured into an investment scheme involving gold structured products in early 2006 without SC’s prior approval, which was in contravention of the licensing conditions. The investment scheme, which was not approved by the SC, promised a nett return of 10% on investors’ initial investment over a period of six months. With the investments, Powerhouse purchased and purified scrap gold into pure gold wafers which were sold at a premium in the gold market.
The fund management company had engaged unlicensed individuals to solicit and receive funds on its behalf for the unapproved scheme, which amounted to
RM12.8 million. In the course of soliciting investments for the scheme, Powerhouse had also breached the licensing conditions when it disseminated advertisements and promotional brochures to the public without the SC’s prior approval.
Following its findings, the SC had, amongst others, directed Powerhouse to cease all investment activities and restrained the company from dealing with the investors’ monies by transferring all the monies from Powerhouse’s bank accounts to a trust company appointed by the SC. In September 2007, the SC appointed United Overseas Bank ( Malaysia) Bhd and UOB Trustee ( Malaysia) Bhd as trustees to carry out the distribution of gold wafers and monies to Powerhouse’s investors.
To date, the trustees have completed the process of returning the monies to Powerhouse’s investors leaving a shortfall of RM1,925,539.10. In the suit filed on 5 November 2007, the SC sought to compel Powerhouse and Tan Kok Kheng to pay the said shortfall to the SC to enable the SC to complete the restitution process to Powerhouse investors.
This latest civil enforcement action is in line with the SC’s efforts achieve a more effective and holistic outcome in the interest of investors, whilst continuing to use its criminal powers in appropriate cases.
On 26 September 2007, the SC had filed a similar suit against Kenneth Vun @ Vun Yun Liun, the managing director and shareholder of FTEC Resources Bhd (FRB) to compel him to restitute RM2.496 million to the company. The sum represents part of proceeds raised by FRB in an initial public offering which Kenneth Vun had misutilised for his personal use.
Other civil actions taken by the SC include the disgorgement of companies’ ill-gotten gains and the freezing of assets to prevent them from being diverted. Notably, in the case of The Ayer Molek Rubber Company Berhad, the SC obtained an injunction to safeguard RM20 million of the company’s monies to prevent the company and its solicitors from disposing or dealing with the said monies representing the company’s sale proceeds of several pieces of lands in 2006 and 2007.
In the Swisscash Internet investment scam case, the SC obtained a worldwide Mareva injunction to prevent the disposal of assets by the defendants and also secured a Court Order to direct one of the defendants, Amir Hassan, to transfer RM35 million of Swisscash monies held in bank accounts overseas back to Malaysia.
SECURITIES COMMISSION
Source : http://sc.com.my/eng/html/resources/press/pr_20071107.html
Note : I hope someday SC.com.my will do like that to Swisscash and the Management. Push the Swisscash management to return our money. :)
Who-is Suntraders.com ...?
Sun Traders Financial Systems
No.672, 57th Avenue, 31th Floor
New York, NY 10106
info@suntraders.com
SunTraders.com Who-Is :
Registry Whois
Domain Name: suntraders.com
Status: clientTransferProhibited
Registrar: REGISTRATION TECHNOLOGIES, INC.
Whois Server: whois.registrationtek.com
Referral URL: http://www.registrationtek.com
Expiration Date: 2008-12-06
Creation Date: 2006-12-06
Last Update Date: 2007-09-21
Name Servers:
dns3.hivelocity.net
dns4.hivelocity.net
Whois WHOIS data are furnished to you under license by Registration Technologies,
Inc., the terms of which are available from http://www.registrationtek.com.
You may not query using automated scripts, nor use WHOIS data to facilitate
unsolicited bulk mailing (postal or electronic) or other prohibited purpose.
Please note that WHOIS data may take up to five business days to be
updated to reflect changes in relevant information. WHOIS data may
contain typographical or other errors. WHOIS data should not be treated
as authoritative in the absence of other corroborating information.
Domain Name: SUNTRADERS.COM
Created: 2006-12-06
Expires: 2008-12-06
Nameservers:
DNS4.HIVELOCITY.NET
DNS3.HIVELOCITY.NET
Registrant:
RegTek Whois Envoy
PMB: 25245
400 Putnam Pike, STE D514
Smithfield, RI
02917-2442
US
Administrative Contact:
RegTek Whois Envoy
PMB: 25245
400 Putnam Pike, STE D514
Smithfield, RI
02917-2442
US
Email:
Voice: +1 401 648 0147 Ext: 25245
Technical Contact:
RegTek Whois Envoy
PMB: 25245
400 Putnam Pike, STE D514
Smithfield, RI
02917-2442
US
Email:
Voice: +1 401 648 0147 Ext: 25245
Billing Contact:
RegTek Whois Envoy
PMB: 25245
400 Putnam Pike, STE D514
Smithfield, RI
02917-2442
US
Email:
Voice: +1 401 648 0147 Ext: 25245
Note : You will notice below the domain name, SunTraders.com was bought over with $2888.
Before that it was owned by other people. I supposed it was only purchased recently!
Well, let's for a minute assume that Suntraders is real and all that It is not like all their investors come to this forum or suddenly wake up one day and say, hmmm, let try visiting this website Swissguide.com which appeared in my dreams. How would an average person knows about the same website and the so-called new partners and all that ? It just does not make sense.
I deal with financial institutions and companies before and each time there is some major changed, they will at least try to contact me like by emailing me or sending me a snail mail about the planned changes.
I mean if this Suntraders is for real and technically a partner of swisscash, they should have all our records, if they cannot integrate the old data with the new, at least they should have our names and email address, they can just email everyone and say come sign up for the new plan or something.
Just relying on that Swissguide.com for all "official" information and not Press Release in the major newspapers and all that and as always, no transparency in this new Suntraders with tons of fake information about their status and history, it just seems like it is yet another scam specifically targetting the already suffering gullible investors.
If you ask me, I would think that the suntraders website is probably just another creation by the people behind swisscashguide.com
I mean look at it again, in Phrase 1, the company's name was Sun Financial Systems and Asia Pacific Capital Investment Limited. Both non-existent companies at the time of the announcement.
Then on the so-called partner, Sun Traders, the company name changes to Sun Traders Financial Systems. Where did the 'Traders' come about ?
Well, if you ask me, I would think that at the time of the lies from Phase 1, they just made up some names and they started trying to hunt down domain names to register for these fictitious companies but could not find any available which matches that name. Sometimes in September during the announcement, they came across a domain name , suntraders.com for sale and they say that's great. That matches their name and it is not a new name which is great, they paid $2,888 for it.
Now on the so-called partners, they came to have track records back to 1995 but they only got their domain name in 2007 and now on their website, they placed a copyright as 2006-2007. Apparently, all these to fool the uninitiated while they try to fabricate a history for themselves while they do not have.
Also the thing with all these scams is that they never placed their real address in the Domain Name Registration. I know there is such thing as Whois Privacy but they should not be used by bona fide companies. Of course, I got no problems if they are used by private individuals. All the Denver address is the address of the domain name registrar and not the address of the company.
There is really nothing in the end to say that it was ever real.
A few possibilities to think about SunTraders.com :
1) If Suntrader moves on to Phase 4 and beyond with the kind of "pompous good new" seen in swisscashguide.com without the majority of investors submitting their data, SunTraders.com is bullshitting.
2) Someone said those with low investment can take a risk to be the first to find out what SunTraders.com does next. Better still, when you send in your "Welcome to Swisscash" email, ERASE YOUR PASSWORD. If SunTraders.com wants verification they have more than enough info. Once you send in your passport details be prepared to monitor your local bank account more closely that someone else would not tamper with it by impersonating you.
I salute your sacrifice.
3) If SunTraders.com don't have mass-mailing function, never mind. Next time when you call the SunTraders.com office, ask the staff if they can do a search on your info (mostly likely they say they can't--prove they haven't got data from old Swisscash server).
4) We should not expect to pay more than is necessary, including another $30 for a new account. We are losers already. Never give away your bank account details. If SunTraders.com ask for $30 more that's their problem. JUST SAY NO. Let them force-hack their way into our account for $30 and show its tail.
5) I cordially invite one SunTraders.com representative to fly down US, Asia and Middle East to hold a gathering for investors for a 'live' briefing. If the company is so rich, it can definitely afford 3 trips on A380 in a "class beyond first".
The bottom line comes down to this: they MUST have our info FIRST without us giving them. SunTraders.com has a lot to lose by not having our info--500,000 of us. If we all stay silent, SunTraders.com will chase us and will prove to us by e-mailing or phoning us. Let them move on to phase 4 with a big bang. If SunTraders.com can answer 3), a lot of suspicions can be settled.
Source : http://www.worldlawdirect.com/forum/showthread.php?t=683&page=148-149
Swisscash Phase 3 : Beyond 2008
What is in for 2008?
Just to update you on some of the possible great things that is coming your way…
1. Our Team is studying and reviewing all your requests for your trading accounts activation and the feasibility to launch different investment products. Awesome isn't it? Well, trust this new team to produce the best investment strategy for you. No promises however as it could come sometime in the year 2008. But just do not forget that you do not have much time for applying as an old investor account holder.
For the subscribers from US & Canada we would accept requests only up to 10th of November and for other countries up to 15th of November.
2. We are looking forward to improve on our Customer Service Management. As Sun Traders is a new financial tool in SUN Mutual Funds therefore the company is still looking into rooms for improvement for the public.
We do not entertain direct call in from the public or unidentified source. One of the reasons is because of the services we are providing are only to our corporate Clients and old Investors. This might look unfriendly from the Investors point of view and I regret to say that this is our Company Policy. When we first started Sun Trader Financial Facility in SUN Mutual Funds we were not expecting much problems as this financial tool is so simple to understand. If you invest, you earn your profits. If you don't then that is it. Personally We are more interested to improve the efficiency of our online customer management system rather than tele-services as we are dealing with tens and possibly hundreds of thousands of investors who may come from different background or industries. We would never want to be entangled into unnecessary conversations or possible confrontations. A written solution is always better than an oral conversation.
"It is good if you are the richest among your neighbors, families, friends and colleagues. But it is even better to have richer neighbors, families, friends and colleagues."
Hector W.Sidberg
Group Partnership Representative
Note : No comment
Swisscash Phase 2 : SunTraders.com
Great News...!!!!
Today I go to Swisscashguide.com website and got information that Swisscash was entered at Phase 2 as they promise. in 9 phases totally.
Why I called it as Great News...?
Because...I think it was good hope and good opportunity to hope our money back. And I think it was only the one hope that wan can hope.. :)
In Swisscashguide.com website we will get this Web address : https://suntraders.com/qualification_2.aspx (great website..because it was secure..) and when you clicked at that URL you will find this statement :
Each Subscriber must indicate whether he qualifies as an "accredited investor" pursuant to at least one of the following tests. (Please check all that apply. If none applies, please explain in the comments section.)
| The Subscriber is a personal (non-business) trust with total assets less than USD 50,000 which was not formed for the purpose of investing in the Partnership and whose decision to invest in the Partnership has been directed by a person who has such knowledge and experience in financial and business matters that he is capable of evaluating the merits and risks of the investment. | |
| The Subscriber is a personal (non-business) trust with total assets more than USD 50,000 which was not formed for the purpose of investing in the Partnership and whose decision to invest in the Partnership has been directed by a person who has such knowledge and experience in financial and business matters that he is capable of evaluating the merits and risks of the investment. | |
| The Subscriber is an employee benefit plan within the meaning of Title I of the Employee Retirement Income Security Act of 1974 | |
| The Subscriber is licensed, or subject to supervision, by U.S. Federal or state examining authorities as a "bank, "savings and loan association", "insurance company", or "small business investment company" (as such terms are used and defined in 17 CFR 230.501(a)). | |
| The Subscriber is registered with the United States Securities and Exchange Commission as a broker or dealer or an investment company; or has elected to be treated or qualifies as a "business development company" (within the meaning of Section 2(a)(48) of the Investment Company Act of 1940 or Section 202(a)(22) of the Investment Advisor Act of 1940). Sun Traders Financial Systems No.672, 57th Avenue, 31th Floor New York, NY 10106 info@suntraders.com Please note: This web site is for informational purposes only and does not constitute an offer or recommendation to buy or sell an investment in any of the funds. In addition, past performance is not necessarily a guide to future performance. Please note: We would compare all the information given by subscribers with our banking datasheets. So if any incorrect information filled by the subscribers for any reason we cannot approve the claim, and the subscriber would loose the account forever. |
| First name: | |
| Last name: | |
| Account ID: | |
| NIC/Passport No: | |
| E-mail Address: | |
| Confirm E-mail Address: | |
| Residence Address: | |
| City: | |
| State: | |
| Zip Code: | |
| Country: | |
| Mobile: | |
| Total Investment Amount (USD): | |
| Investment Company: | |
| Comments: |
When we saw that form... I just wondering that it was true...but...!!!
I was confused...why they need our information..? why they say several month ago that they will contact us by email or telephone...? Now I 'm sure that you will be confused too... :)
So..what we must to do now...? fill our important information at that form...? or we wait...?
The choice is in your hands...If you want to know the answers about Swisscashguide.com is true or another fake website ? I think you can fill that form ...
But If you want the most safe way to your personal information....I think you should wait and check at this website...because I will update as soon as possible to know you the status of Swisscashguide.com website. :)
Swisscash Beta ... Another Fake Website...!!!
Finally we got the answer that Swisscashbeta.com is another fake website, it was announce from Swisscashguide.com ... here this :
===========================================================
"Swiss Mutual Fund Alerts"
Dear all SC investors;
It has come to our attention that some fake websites claimed to be a part of SwissCash or SMF.
Please do not enter your login data (username, ID, password, TAP, DOB) or any personal information in these
sites. Here is the list of some of these fake websites.
Swisscashbeta.biz
Swisscashbeta.com
Swisscashbeta.net
Swisscashbeta.org
Bscash.biz
Bscash.com
Bscash.net
Bscash.org
Chinaswisscash.com
Swisscash-apo.com
Swisscash25.net
Swisscash25.com
Swisscash25.biz
E-swisscash.com
Swisscash-eu.com
Swisscash-eu.net
Swisscash-eu.biz
The new website URL from our new partner would be sent only to our main financial consultants in any region shortly.
So please do not trust any weblog, website or any unauthorized person.
===========================================================So I think...it more wise if you didn't use your Trading ID, Password and TAP to this fake website.
If you want to try..? Try it at your own risk ...OK..!! :)
