July 10, 2007 14:09 PM
SC Obtains Worldwide Mareva Injunction Against Swisscash Investment
KUALA LUMPUR, July 10 (Bernama) -- In what is a milestone enforcement action against investment scams, the Securities Commission has obtained a worldwide Mareva injunction against persons involved in the Swisscash investment scam preventing them from disposing assets in and outside Malaysia.
The SC also announced it has blocked access to two more websites offering illegal investment schemes -- www.eaindex.com & www.winifund.com -- offering illegal investment schemes, bring to 10 the total number of websites blocked so far.
The Mareva was sought by the SC following the filing of a civil suit against defendants Albert Lee Kee Sien, Kelvin Choo Mun Hoe, Amir bin Hassan, Dynamic Revolution Sdn Bhd, Swiss Mutual Fund (1948) S.A, SMF International Limited and SMF (1948) International Limited, SC said in a statement here Tuesday.
The injunction was obtained on June 21 this year.
The Mareva restrains and prohibits the defendants from carrying on the business of Swisscash, targeting, soliciting and collecting funds from the public for investments in Swisscash or any other internet investment scheme.
The defendants also cannot host or operate the Swisscash websites or operate any other such websites which solicit investments for Swisscash or any other internet investment scheme.
None of the defendants in the Swisscash scheme are licensed or approved by the SC to carry out fund management activities, it said.
SC said it secured the Mareva following its investigation on the scheme under the Securities Industry Act 1983 and the Anti-Money Laundering and Anti-Terrorism Financing Act 2001.
-- BERNAMA================================================================
Pointer page on SwissCash Investment Program:-
1) http://offshore.bizhat.com
2) http://www.freewebs.com/invest2day
