Swiss Mutual Fund

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The Swiss Mutual Fund is an offshore investment company headquartered in the Commonwealth of Dominica. Despite the inclusion of the word Swiss in its name, the Swiss Mutual Fund's board of directors is comprised solely of Dominican citizens^[1], and the company does not appear to have any significant ties to Switzerland.

1 History
2 Criticism
3 External Links
4 References

[edit] History

Swiss Mutual Fund originally mentioned on its website that it was created after World War Two in 1948 by the Cheviot family of France, with operations based in Berne, Switzerland. After 48 years (1996), the firm moved to the Commonwealth of Dominica due to changes in financial regulations in Europe.^[2] However the Swiss Embassy in Kuala Lumpur has stated the following:

"The Swiss Mutual Fund (1948) and or Swiss Cash are not registered companies in Switzerland. Until proof of the contrary, the Embassy doubts that the remarks about these funds and their historic links to Switzerland as outlined on their original website are genuine. The original website is indeed registered in the USA and the contact telephone number is from New Jersey (USA)." ^[3]

This information was also collaborated by the Swiss Embassy in Singapore.^[4]

The current version of the Swiss Mutual Fund website no longer includes any information about the company's history.

[edit] Criticism

There is evidence that the Swiss Mutual Fund is a Pyramid Scheme, with victims in both Malaysia and Singapore.^[5] The Central Bank of Malaysia and the Monetary Authority of Singapore have both issued warnings regarding Swiss Mutual Fund's legitimacy, and have advised investors to avoid the company and its subsidiaries.^[6]^[7]