Offshore Investment Scheme hits Singapore

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An investment scam that has been making the rounds in Malaysia has hit Singapore, too. Known as SwissCash or Swiss Mutual Fund, it promises huge returns for a minimum investment of US$1,000 ($1,500).
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Source: http://www.todayonline.com/articles/167644.asp

In actual fact, the minimum investment in SwissCash is USD100.00 and not USD1,000.00

One have to read and analyse the news report with other independent sources and not swallow everything as the truth. So far the scam has no association with SwissCash. It was an old news in Malaysia and Singapore reporter is making it as a new report but with full of inaccuracies. The scam was involving Union Bank of Swiss and not SwissCash; see the reliable report at Sun2surf report.

So this report is false and misleading the public http://www.todayonline.com/articles/167644.asp
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In Malaysia, about 40 investors are believed to have fallen prey to the scam. According to reports, eight men are helping police in their investigations into alleged cheating of about RM20 million ($8.7 million) through the Swiss Cash fund, in October last year. Unquote

That is an obvious deception by misquoting from unreliable sources. The Star Online dated 4-10-2006 http://thestar.com.my/news/story.asp...816&sec=nation

But the following day 5-10-2006, they have clarified with another report it was related to Union Bank of Swiss but never apologize to SwissCash.

http://thestar.com.my/news/story.asp...288&sec=nation