FrancSwiss ‘financial adviser’ nabbed by police
ABS-CBN's news program TV Patrol reported today that 26-year-old Eleazard "Ely" Castillo of Baguio City was nabbed by police for allegedly playing a part in the High-yield investment program (HYIP) FrancSwiss.
Castillo is considered the "chief financial adviser" of FrancSwiss and is said to be responsible for bringing in more than P300 million (US$6.5 million) worth of investments to the said online program.
According to the National Bureau of Investigation (NBI), thousands of Filipinos have "invested" in FrancSwiss, including actors, politicians, tv personalities, generals, OFWs, and retirees.
FrancsSwiss - with websites at [www.francswiss.com | www.francswiss.us | www.francswiss.biz] — is an HYIP that offers 4.5% interest per day for 60 days on a minimum investment of $1,000. It is not fully explained, however, how they are able to generate enough profits that would compensate for such abnormally high return.
Earlier this week, the Philippine Securities and Exchange Commission (SEC) and the Bangko Sentral ng Pilipinas (BSP) tagged FrancsSwiss as a Ponzi scheme — an investment program that relies on new investments to pay older investments — and warned people against investing in online HYIPs.
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The NBI said other known FrancSwiss personalities have now been placed under their "Wanted List." They include Jaime Poliquit (Davao City), Garry Espiritu (Metro Manila), alyas Jomarc (Fairview, Quezon City), Edwin Sendana (Pasig City), and Edward Ricalde (Pampanga).
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Video of the ABS-CBN news report after the jump.
Video: FrancSwiss "chief financial adviser" presented to the media
Does this mean FrancSwiss is now officially a scam?
Are those identified people really the "bosses" of FrancSwiss or are they merely scapegoat recruiters/referrers?
What will now happen to the investments of those who have not made a profit yet?
Join the discussion in the HYIP: FrancSwiss thread in the PMT Forum.
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January 28th, 2008 at 10:31 am
this is for everyone that all jealos to the people that earn money.. anyhow thats a lot out there kill for anything just to earn money no matter how much…. we dont have to fucos to the franswiss cz they dont kill people for money but a lot of people there that no soul, spirit at all hope you guy not blind. anyway if someone read this please be concern to all the people dying innocent. cz this person ARNOLFO BALACANIA AND JON CONGORIO IS THE MASTER MIND OF KILLING FOR MONEY THEY RICH CZ THEY KILL PEOPLE FOR MONEY BE CONCERN TALK SOMEONE WHEN YOU READ THIS MESSEGE CZ YOU MIGTH BE THE NEXT VICTIM OF THEM IF YOU NOT AWARE JON CONGORIO IS PRESENTLY WORKING IN CIGG IN THE CRAME BELIEVE ME CZ I KNOW THIS PERSON VERY WELL……… WE HAVE TO STOP THEM BEFORE THEY KILL AGAIN ARNOLFO BALACANIA HE KILL PEOPLE FOR LEAVING And JON CONGORIO HIS USING HIS POWER CZ HE WORK INSIDE THE CIGG BELIEVE ME OR NOT ITS UP TO YOU GO FIND OUT WHAT IM TALKING ABOUT YOU WILL KNOW
July 19th, 2007 at 9:55 am
malamang eh mob rule ang mangyari dito. bugbog kapag natyempuhan. para sa mga uplines, ibalik nyo na lang pera sa downlines nyo
July 18th, 2007 at 9:05 pm
This is what you get for being ignorant about pyramid scams. To those who are defending it, I really hope your conscience gets to you.
July 18th, 2007 at 2:54 pm
hi ingrid kumusta na ang milliones mo?? heard u keep on shopping ha… ganyan talaga if ang dami nang pera.. hope AMLA will investigate this lady… im 101% sure that she got a lot of money from FS.