4 Phase in Assessment of Claims and Distribution of Monies to Eligible Investors of the SwissCash Internet Investment Scheme

Phase 1 - Publicity to invite investors to submit claims (completed)

• * Press release by Securities Commission Malaysia on 25 January 2010.
• * Notice by Administrator on 27January 2010 in the following media:

English - Star
- New Straits Times
- Borneo Post
- Administrator Website
Bahasa Malaysia - Berita Harian
- Utusan Malaysia
- Administrator Website
Chinese - Sin Chew Jit Poh
Tamil - Malaysia Nanban

Phase 2 - Submission of claims by investors (completed)

• Submission period between 27 January 2010 to 10 February 2010. Investors were requested to submit the claims in the prescribed form to the locations published in the http://www.administrator-swisscash.com.my/swissadministrator/admin/archive.asp

Phase 3 - Analysis of investor submissions & formulation of eligibility criteria (ongoing)

• Administrator will analyse documents submitted by investors and formulate eligibility criteria in consultation with Securities Commission Malaysia.
• The SC will make an application to Court for the eligibility criteria to be approved.

Phase 4 - Effect payout to eligible investors based on Court approved eligibility criteria.

• Administrator will effect payments to eligible investors based on the eligibility criteria that has been approved by the Court.
• Depending on volume of investor submissions, payment may be effected in stages. Target to effect payment by April 2010.

Source : administrator-swisscash.com.my

A Brief History of Replica Watches

Watches have always existed for more than just telling time. Since the very first portable timepiece, they have become fashion statements and stylish displays of prosperity. In the second half of the twentieth century it became easy to mass-product battery-powered quartz watches for much cheaper than the price of traditional mechanical watches of similar accuracy, and this opened a door that will likely never be closed. Now anyone could afford a wristwatch, but the wealthy still stuck with the ever-evolving mechanical watches of the elite Swiss watchmakers. Where the quartz crystal watches were highly accurate, the Swiss watchmakers discovered ways to make their instruments more accurate still, and they also had another advantage: no batteries.

Mechanical watches as a rule need to be wound, but watchmakers like Rolex discovered ways to make their watches "self-winding" -- actually capturing the motions of their wearer moving their arm and wrist, and using that energy to keep the watch wound and powered. Where the quartz powered watches had second hands that "ticked" once per second, the Swiss watchmakers invented an automatic movement that had the second-hands of their watches moving eight times per second, creating a more fluid motion. In short, the Swiss watchmakers had their products deeply entrenched in the minds of the public as statements of wealth and style. This, combined with a newfound ability to produce functioning watches cheaply, left the door wide open for the manufacture of replica watches.

Previously, manufacturing timepieces was prohibitively expensive for the common consumer but the advent of the quartz watch led someone to the idea of making one, but putting the name "Rolex" on it. These early replica watches were not terribly difficult to spot, but the fledgling industry grew up and today's replicas are spot-on spitting images of their namesakes, from the size, shape and color, to the movement of the second-hands, to the weight of the watch itself. In fact, many people believe it is possible to tell a fake watch by the second-hand "ticking" but that's no longer the case with the high quality replicas manufactured today.

Swisscash Investment Scam Settlement - FAQS by SC.COM.MY

I get it from SC.com.my that known as the legal and authorize department for Swisscash problem solving. Here this some of Frequently Asked Question for the Swisscash SCAM case, I hope it will be useful for all the readers who want to claim their money from Swisscash.

Q1:  What is the current status of the civil suit taken by SC against those involved in the Swisscash activities?
A: The SC has entered into consent judgment with Albert Lee and Amir Hassan on 6 November 2009 in which they have agreed to pay the SC in total a sum in excess of RM30 million which will be used to compensate investors.

Q2: What happens now? What steps will be taken now by SC?
A:
Step 1: The SC will appoint an Administrator and will work with the Administrator to provide the court with a framework for the eligibility of claimants and the plan for distribution.
Step 2: Get the court order approving the framework
Step 3: The Administrator will manage the processing of claims which includes advertising for claims and deciding on the eligibility of investors.
Step 4: Eligible investors will be notified and payment will be made.

Q3: I only have photocopies of payment I have made to the Swisscash scheme. Can I still submit a claim?
A: Yes you may still submit your claim but that may not assure you of being successful in your claim.

Q4: What if I do not have proof of payments as I had handed over cash to an upliner?
A: You may not get your investments back as the payment has to be administered based on the strict criteria.

Q5: I helped to recruit others to join and invest in the scheme. Will I be eligible to get my money back?
A: One of the eligibility criteria in compensating investors is whether or not the investor was actively involved in recruiting others and therefore be considered as abetting the scheme. Any investor who was also involved in the scheme as a recruiter or an upliner would not be eligible to claim their money back.

Q6: What is the purpose of the appointment of an Administrator?
A: The Administrator will:
(a) call for claims from all investors who have invested in the Swisscash scam and set out the minimum information required for purposes of processing of their claims and the deadline within which claims should be made. Investors should refer to the Notice issued by the Administrator on Wednesday, 27 January 2010 for these minimum requirements. For a copy of the Notice, please click here (link to Administrator's website);
(b) collate all claims;
(c) assess and review the eligibility of claims made by investors;
(d) make recommendations to the SC, on the appropriate eligibility criteria and distribution plan for payments to be made to Swisscash investors who have submitted claims, upon which the criteria will be submitted to the Court for its approval;
(e) manage and effect payments to eligible investors who have submitted claims; based on the eligibility criteria as approved by the Court and
(f) communicate with claimants on all aspects of their claims.

Q7. Who has been appointed as the Administrator?
A: PricewaterhouseCoopers Advisory Services Sdn Bhd ("the Administrator") has been appointed as the Administrator to manage the restitution process to eligible investors in the Swisscash internet investment scam.

Q8.Now that the Administrator has been appointed, what happens next?
A:
(a) The Administrator will receive all claims within the 14 day period starting from 27 January 2010. Based on the claims received, the Administrator will make recommendations to the SC on the appropriate eligibility criteria for payments to be made
(b) The SC will thereafter submit the eligibility criteria and distribution plan for the Court's approval.
(c) The Administrator will notify eligible claimants and effect payment to them based on the Court approved eligibility criteria and distribution plan.

Q9. What is the eligibility criteria?
A: The criteria will be announced upon the Court's approval being obtained.

Q10. When will I know the outcome of my claim?
A: The SC will apply to the Court for approval of the eligibility criteria after 10 February 2010 which is the deadline for the submission of claims. We target for the first batch of payments to be made by the end of March 2010, after the Court's approval is obtained.

Q11. Will I be informed whether my claim is successful or not?
A: Yes, the Administrator will publish the list of eligible investors on their website after the eligibility criteria has been approved by Court.

Administrator of Swisscash Launched Their Official Site

I'm very sure that you ever Googling and found this site at the first results. Yeah, the site that you can reach it at Administrator-Swisscash.com.my.

I dunno whether this site is legally created by SC.com.my that have an authority to do it or just another information update or swisscash news site (like this blog..hehehe) but when I see at their who.is I think this is legal site that I think you can trust it for your own source of Swisscash News and update.

Here this the who.is record of this site.

a [Domain Name]                 administrator-swisscash.com.my
b [Registration No.]            D1A127250
c [Record Created]              25-JAN-2010
d [Record Expired]              25-JAN-2011
e [Record Last Modified]        01-FEB-2010
f [Invoicing Party]                            R020
  Domain Officer
  Shinjiru Technology Sdn. Bhd.
  No. 19-2, Wisma Laxton 
  Jalan Desa, Taman Desa, Off Jalan Klang Lama
  58100 Kuala Lumpur
  Wilayah Persekutuan
  Malaysia
 
  (Tel) 03-7987 1191 
  (Fax) 03-7987 2191 

g [Registrant Code]                            REDA10.ORG
  Red Antz IT Solution
  (001327152-V)
  9, First Floor, Jalan 9/62A, Bandar Menjalara 
  52200 Kuala Lumpur
  Wilayah Persekutuan
  (Tel) 601-63222501  
  (Fax) 603-62741632  

h [Administrative Contact Code]                DCA097383
  PricewaterhouseCoopers Advisory Services Sdn Bhd 573259-K
  Red Antz IT Solution
  9, First Floor, Jalan 9/62A, Bandar Menjalara
  52200 Kuala Lumpur
  Others
  Other
 
  (Tel) 60321731188  
  (Fax) 60321731288  
 
i [Billing Contact Code]                       DCA097383
  PricewaterhouseCoopers Advisory Services Sdn Bhd 573259-K
  Red Antz IT Solution
  9, First Floor, Jalan 9/62A, Bandar Menjalara
  52200 Kuala Lumpur
  Others
  Other
 
  (Tel) 60321731188  
  (Fax) 60321731288  
 
j [Technical Contact Code]                     DCA055599
  Alan Chai
  Red Antz IT Solution
  BLK J-5-517, JLN 1A, Segar Aprt,
  TMN Segar, Cheras,, Kuala Lumpur
  56100 Cheras
  Wilayah Persekutuan
  Malaysia
 
  (Tel) 016-3222501  
  (Fax) -  

k [Primary Name Server]              SVA008089               
  ns1.ahtdirect.biz                  202.75.33.181      
 
l [Secondary Name Server]            SVA008090       
  ns2.ahtdirect.biz                  202.75.33.182

So, decision is yours...but for me, I trust this site. ;)