FrancSwiss – Scam or not?
FrancSwiss (www.francswiss.com | www.francswiss.biz | www.francswiss.us) advertises itself as an investment program that aims "not only to produce millionaires but also to lead those millionaires on how to have a right attitude towards financial freedom."
The company's mission is "to bring the best financial opportunities to our valued members" — but what exactly these financial opportunities are are not explained in any of their sites.
By the first week of July 2007, the program had been officially declared a scam. Related websites became inaccessible and investors stopped receiving any payment.
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* * * * * FRANCSWISS UPDATES * * * * *
- Updates on the FrancSwiss scam – posted August 1
July 6 (8 p.m.): The alleged "chief financial adviser" of FrancSwiss — a 26-year-old native of Baguio City — has been caught, according to TV news reports. Watch the video in the FrancSwiss 'financial adviser" nabbed by police article. Does this mean the end of FrancSwiss? We'll soon find out.
July 6: All FrancSwiss sites are now down and inaccessible. [www.francswiss.biz] gives a "Page Not Found. 404 Error." [www.francswiss.com] and [www.francswiss.us] redirect to a parked domain. As of this writing, it cannot be determined yet if FrancSwiss has totally closed down. We'll have to wait for new developments in the next few days.
July 5: More media companies warn the public against investing in FrancSwiss. The HYIP was reported in the Philippine Daily Inquirer, ABS-CBN's TV Patrol and Bandila news programs, and GMA7's 24 Oras.
July 3: The Bangko Sentral ng Pilipinas (BSP), the Securities and Exchange Commission (SEC), and the media have now all called FrancSwiss a Ponzi scheme and warned people against investing in similar online investment scams. Read the warnings here:
June 24: www.francswiss.us is now just a parked domain and www.francswiss.com is still inaccessible, but www.francswiss.biz is now up and running, taking new investments.
June 21: www.francswiss.us is currently inaccessible. www.francswiss.com and www.francswiss.biz are online but are "under maintenance." The message posted was:
Due to a massive registration worldwide, we are in the process of adding more domains per country level and upgrading our system to meet the very fast growing community of Francswiss. We are Sorry for the Inconvenience.
Please Visit us again, June 22, 2007 12:00:00 AM US Standard time
THANK YOU
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Some more FrancSwiss articles for you:
- Is FrancSwiss a scam?
- Did you lose money in FrancSwiss?
- You made money in FrancSwss? You're not yet off the hook
- FrancSwiss profits are – would you believe — taxable?
- Until when will FrancSwiss last?
- SEC, BSP, media call FrancSwiss a Ponzi, warn against online HYIPs
- NBI Press Release on FrancSwiss
Resources on HYIP Investing:
- What type of HYIP investor are you?
- Invest in this company!
- Things you should know about HYIPs
- “To invest or not to invest?” — that is the question
- All you need to know about HYIP investing you will learn from scammers (Part 1)
- All you need to know about HYIP investing you will learn from scammers (Part 2)
- Confessions of an ex-HYIP investor
Related Discussion Boards in the PMT Forum:
