FrancSwiss is a Scam!

Recently, my mom told me about what our neighbor told her. Our neighbor's three sons joined Francswiss. They invested $1000 each to get a daily interest of $45. In short, in order to get a break-even from them, you need 23 days. One of the sons went to our house to discuss about Francswiss and really encouraged us to join. I was really enthusiastic to earn more than P2000 a day. So I registered online to http://www.francswiss.biz/ using my passport number. However, before you become an active member, you need to purchase 1000 epoints equivalent to $1000. First of all, my money is not yet available and second, there were no available epoints at the moment. So, I left it at that. The next day, I tried to login to the site. It says because of too many were trying to join, the site was "under maintenance." So, ok fine. The next day, I tried to login again and it is still under maintenance. WTF! Then my mom told me that she heard in the news that FrancSwiss is indeed a scam. Thank God I was spared. My money is still with me, safe and sound. From Pinoymoneytalk.com It seems the newest craze in town is not anymore Koreanovelas, Pinoy Big Brother, or celebrity video scandals, but an HYIP- pretending- to- be- a- genuine- investment- program called FrancSwiss. From what we heard, even celebrities like Richard Gomez, Claudine Barretto and Piolo Pascual have "invested" in this program. With a 4.5% promised return per day, who would resist this kind of offer? Without a doubt, hundreds of investors have already made a big profit from FrancSwiss during the past months. But would thousands more cry once the program is gone and has stopped paying? First, let's understand what an HYIP is. HYIP stands for High-Yield Investment Programs, supposed investment programs that offer high returns with a corresponding high level of risk. These programs promise a return so high even the best investment banking companies would not dare offer. But HYIPs disappear so quickly and, in most cases, they leave without a trace. One day the site's up and the program's paying, but the next day you get a "Page Not Displayed" error when accessing the site and you have stopped receiving payments from them. You cannot run after the program managers because, in the first place, you don't know who they are or where they live. The names and addresses, if ever they are given, are usually fake. HYIPs are not new. In 1919, Charles Ponzi started an "investment" program that paid investors 100% of their investment in just 3 months (1.11% return per day). What investors did not know, however, was that recent investments were used to pay off older investments. When less and less people invested, newer cash were not anymore enough to pay off older investments. Consequently, the pyramid scheme collapsed and thousands of people lost money in the process. Charles Ponzi was jailed and from then on the name Ponzi stuck and became synonymous with pyramid scams. In recent years, hundreds of HYIPs that are actually pyramid schemes have sprung up on the internet every day. There's StudioTraffic, the so-called "big daddy" of autosurf programs, that paid 1% a day and was able to last for around 2 years. (See StudioTraffic Discussion Board) There's PIPS, PhoenixSurf, 12DailyPro, and a horde of other "investment" programs that paid consistently for a period of time but in the end also folded up, disappeared, and scammed people with thousands or, at times, millions of dollars. For a list of online investment programs that are now considered scams, visit our Scams and Closed Programs Discussion Board. But the question remains: Is FrancSwiss a scam? We believe FrancSwiss is no different from other online investment programs that flourished in the past. Regardless of the consistency of payments, SEC registration or a brick-and-mortar office, these programs eventually end up as a non-paying scam. So Is FrancSwiss a scam? Not yet, but it will be. Soon. Trust us. We've been there and done that. Related Links: HYIP: FrancSwiss Discussion Thread Confessions of an ex-HYIP investor 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) PS. As of this writing, the program's site www.francswiss.us is not anymore accessible. They have apparently moved to www.francswiss.com and www.francswiss.biz but the site is supposedly under maintenance: 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 Site becoming inaccessible and new site "under maintenance?" What next to expect? Is this a sign that the end of FrancSwiss is near? We'll soon find out. Talk about FrancSwiss in the HYIP: FrancSwiss thread or visit the HYIP, Autosurf & other High-Yield, High-Risk Ventures board for other similar High-Yield Investment Programs.