anybody here in mylot heard about francswiss?
Cebu City, Philippines
June 29, 2007 6:14pm CST
I would want some help here. I am just worried about my friend who invested $1000 and said francswiss will give them $ 45 per day as interest of the $1000 investment. They joined the seminar conducted here in our city and the said company is having these every day in high end hotels and talking about it with great persuasion. I hope you can help me. She also invited me to invst but I dont have that amount and and I dont think I would venture into such investment. Thank you in advance for your help, I will greatly appreciate it.
29 Jun 07
Oh dear! one of the old investment and shares scams! You'd do well to stay clear of them as I've heard many a shady thing happen to investors money, especially when seminars are put in place, they appear like absolute professionals and then they run with your money when they have conned you by their fantasy make believe presentations!! I once saw a program on tv where they operated a scam very similar and they gathered thousands of dollars in barely a week!
• Cebu City, Philippines
29 Jun 07
Oh my, I was about to tell here yesterday to make sure about the company before investing but the sad about it is that they have already given the money and is planning to open another account. I am just going to pray for her for I know its really beyond my control now that she already invested it.
1 Jul 07
it is a money pyramid just like what we have here in the net called high yielding investment programs. it is a scam. they get all the money and the earlier you enter you earn and the ones who comes in late are losers.please, it is too good to be true.
30 Jun 07
can any fool give us 45$ per day for invested amount its all bogus and i must thank god to helping you not to invest 1000$ after all they have received 1000$ from each innocent people and cant they spare in hotel bills please don't believe those
30 Jun 07
Yes, I have heard of it. Frankly I am wary of it. Some of my friends have joined and have gotten back their "investment" so they do not have to worry anymore, but they joined rather early. I suspect that it operated like a Ponzi scheme, wherein the earlier "investors" were paid from the money put in by the people who join later on. True, for the early investors they would have a higher probability of getting their money back because the fact that they are earning would attract even more people to put in money. But what happens if there are no more people to put in money? The whole system collapses! That means that if you are already one of the later investors, there is a chance that you may not get some of the promised payments. I have joined some online HYIPs (high yield investment program) and I guess it works pretty much the same, although the most I've invested is 5 dollars. I've won some, I've lost some. These programs do not have a concrete plan on how to make the money grow. I treat it like a game and a learning experience, and in a part, gambling. If you join, you must realize that these are very high risk programs. It's just a little better than gambling, in my opinion. If you put in the money, you should be prepared to lose it, so do not put in an amount that you cannot afford to lose. Remember Multitel a few years back? This had a "lower" interest -- 10% per month vs. the 4.5% per DAY offerred by FrancSwiss. And yet, it collapsed. So people have been complaining about it and getting mad at the founders. I'd say, you are responsible for your actions. If you fork over the money, that is your decision. So if you decide to gamble and lose, you should not cry about it because once you decided, that means you are willing to take the risk. Don't put your life savings into it, like what some people did with Multitel. Remember that if it's too good to be true, it probably is. Frankly, what investment vehicle can they put the money in that would earn MORE than 4.5% a DAY?
4 Jul 07
Francswiss is a PONZI type of investment, meaning the company is not really into investing the money they got from members but they are paying the interests from the money they are collecting from new members. Until such time it will collapse. And leaving new members crying and disappointed because they were not able to get back their capital. Tell your friend never to reinvest the interest earned and always withdraw the interest as much as possible. I think this HYIP has already reached its peak and is now making a slow downfall. Please do not invest on this unless you are very much aware of this fact.